Caseys General Stores Inc Q4 2021 Earnings Call Transcript

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

Question: John Macalister Royall - JPMorgan Chase & Co, Research Division - Analyst : Can we talk about the cadence of synergy capture on buggies in the first 3 years as you see it now, I think your fiscal '22 guide suggests probably not much hitting in the first year. And then do you have an EBITDA estimate on the circle case stores you can speak to?

Question: John Macalister Royall - JPMorgan Chase & Co, Research Division - Analyst : Great. That's helpful. And then can you parse your guidance for inside sales of mid-single-digit between Prepared Foods and Grocery, maybe just high level? And then any commentary on margins on the grocery side in fiscal '22, just coming off the drag from mix you had during pandemic? REFINITIV STREETEVENTS | www.refinitiv.com | Contact Us consent of Refinitiv. 'Refinitiv' and the Refinitiv logo are registered trademarks of Refinitiv and its affiliated companies. JUNE 09, 2021 / 12:30PM, CASY.OQ - Q4 2021 Caseys General Stores Inc Earnings Call

Question: Brian Christopher McNamara - Joh. Berenberg, Gossler & Co. KG, Research Division - Analyst : So year 1 quarter removed from the big store reset. And I'm curious how the private brand rolled out just trending relative to your internal expectations? You exited Q3 at a 3% penetration. It seems like you stayed there through Q4. How do you see private brand penetration a year from now?

Question: Brian Christopher McNamara - Joh. Berenberg, Gossler & Co. KG, Research Division - Analyst : Got it. And then just 1 quick last 1 for me. Speaking with another c-store industry participant recently, they opined at least to me that 2021 could be the biggest year ever in terms of industry consolidation. It sounds like you guys are optimistic as well, but I'd be curious on your thoughts on the opportunities you're seeing in M&A and the drivers of those opportunities?