Caseys General Stores Inc Q1 2022 Earnings Call Summary

The following is excerpted from the question-and-answer section of the transcript.

Question: John Macalister Royall - JPMorgan Chase & Co, Research Division - Analyst : Is there anything you could share on the proforma year-over-year performance of the Buchanan assets this quarter? And any major differences to point out between legacy Casey's and the acquisition? We feel that Casey's numbers vary in the same-store metrics, but anything you could share on Buchanan itself, which is not evident in the GAAP numbers would be helpful.

Question: John Macalister Royall - JPMorgan Chase & Co, Research Division - Analyst : Great. And then second one is just a little more housekeeping. But can you talk about the cadence of CapEx and new build activity. I know 1Q was pretty light, which I think is pretty typical historically, when you look back at historical years. But on this case, it's under 10% of the full year guide. So if you could just talk about kind of the cadence of new build activity and how you expect it to progress through the rest of the year? That would be helpful. REFINITIV STREETEVENTS | www.refinitiv.com | Contact Us consent of Refinitiv. 'Refinitiv' and the Refinitiv logo are registered trademarks of Refinitiv and its affiliated companies. SEPTEMBER 08, 2021 / 12:30PM, CASY.OQ - Q1 2022 Caseys General Stores Inc Earnings Call

Question: Brian Christopher McNamara - Joh. Berenberg, Gossler & Co. KG, Research Division - Analyst : You exited the quarter with private label representing about 4.4% of your Grocery and General Merchandise sales. Where do you see that penetration landing this fiscal year and over the medium term? And are new stores and acquired stores starting with a higher private brand penetration relative to the rest of the fleet?

Question: Brian Christopher McNamara - Joh. Berenberg, Gossler & Co. KG, Research Division - Analyst : Great. And then just a quick follow-up. Do fuel margins, I mean, ex RINs, they're still pretty high. Do they continue to influence the M&A environment? Or are potential targets more willing to sell than they have been during this elevated fuel margin environment, given potential capital gains, tax treatment changing?