Casey's General Stores 2025年度报告

TABLE OF CONTENTS 1Financial Highlights2Letter to Shareholders6Extended Leadership Team7Board of Directors8Investor Information CASEY’SHAS UNIQUE COMPETITIVE ADVANTAGES IN THE CONVENIENCESTORE LANDSCAPE. TO OURSHAREHOLDERS Fiscal year 2026 was the culmination of the three-year strategic plan we introduced in June 2023.It was a strong year throughout the business due tosolid execution of the plan, and that was recognizedas Casey’s joined the S&P 500 Index in April.We delivered on our financial commitments andgenerated shareholder value as we recap our fiscal2026. As we discuss highlights below, we also lookforward to fiscal 2027 and beyond. Grocery and general merchandise same-store salesincreased 3.9% for the year, led by non-alcoholicand alcoholic beverages, especially energy drinks. Our prepared food program continues to be oneof Casey’s biggest differentiators. Our guests,including 10.5 million Casey’s Rewards members,enjoyed our delicious, handmade pizza, includingrecent specialty pizza menu additions like four cheeseand twisted pepperoni, and can now enjoy our baconcheeseburger pizza LTO with a side of fries. Speakingof fries, our wings and fries test was a success, andwe have expanded sauced wings to nearly 850 stores,with plans to bring the program across the rest of thefootprint over the next two fiscal years, while friesare now served at almost every Casey’s store. Thatinnovation and execution showed up in the financialresults for fiscal 2026, with inside same-store salesup 4.2%. Prepared food and dispensed beverage ledthe way with a same-store sales increase of 5.2%,driven by strong performance in whole pizzas. In fiscal 2025, we completed the largest acquisitionin the Company’s history with Fikes Wholesale, andin fiscal 2026, we built and acquired 80 units whileremodeling approximately 50 CEFCO stores intoCasey’s. The team’s ability to grow the businesswhile successfully integrating a large transactiongives us confidence that we can steadily expand thestore base and remain opportunistic when largerdeals present themselves. CASEY’SIS A RESTAURANT-FIRST RETAILER WITH A FOCUSON LOCAL COMMUNITYINVOLVEMENT. CASEY’SREWARDSHITS OVERTEN MILLIONMEMBERS. Casey’s is a leadingconvenience retailer andthe fifth largest pizza chainin the U.S., serving guestsacross 2,900+ stores in19 states. At the pump, our fuel team once again executed well,balancing volume and margin to drive gross profitdollars, as same-store fuel gallons were up 1.4% forthe year while margin averaged 42.6 cents per gallon. Across the three-year strategic plan, net incomeand EBITDA delivered a three-year CAGR of16.9% and 15.9%, respectively. When we introducedthe plan, our objective was to grow at an 8%–10%EBITDA CAGR, over three years, and we meaning-fully exceeded that target. Operationally, we leveraged the benefits of ourscale while staying focused on both our team andthe guest. For the fourth consecutive fiscal year,we reduced same-store labor hours and madefurther progress on turnover reduction andemployee engagement. The result was a betterguest experience, with satisfaction scores reachingthe highest level in Company history. Now, we look ahead to fiscal 2027 and the start ofour next three-year plan. I could not be more proudof the Casey’s team and I am confident in what isahead. We appreciate your support and we lookforward to building on our strong track record ofcreating long-term shareholder value. Thank youfor your investment in Casey’s. We stayed focused on executing the strategy, andthe financial results were strong. For fiscal 2026,net income and EBITDA increased 30.7% and23.6%, respectively. We achieved this while raisingthe dividend for the 27th consecutive year andmaintaining a strong balance sheet. Darren Rebelez Board Chair, President & Chief Executive Officer EXTENDEDLEADERSHIP TEAM CHAD FRAZELL* TIM AHRENDSENSVP, OperationsExcellence KIM LIPPERTDivision VP, StoreOperations NAN THOMAEVP, HR Total RewardsCHRIS STEWARTVP, FuelSTEPH HOPPEVP, OmnichannelMarketingERIC LONGVP, Proprietary BrandsPAUL SUAREZVP, Chief InformationSecurity Officer STEVEN ROBINSVP, Real EstatePIERRE HAKIMVP, Enterprise Strategy,Data & AlCHRIS BOLINGSVP, Store OperationsNATHANIELDODDRIDGESVP, Fuel OperationsJON HOSTASA Chief HumanResources Officer KATRINA LINDSEY*Chief Legal OfficerTOM BRENNAN*Chief MerchandisingOfficer FAREED SIDDIQUIVP, Merchandising SCOTT FABER VP, Deputy GeneralCounsel and CorporateSecretary ANNIE ALABAUGHDivision VP, StoreOperations MARK STINDEVP, Asset ProtectionSHERRI HARTVP, HR, Field Operations DARREN REBELEZ*President and CEOENA WILLIAMS*Chief Operating OfficerSTEVE BRAMLAGE*Chief Financial OfficerBRIAN JOHNSONSVP, Business Development ASHENAFI TEKESTEDivision VP, StoreOperations VP, Constructionand Maintenance CHRIS WATKINSVP, IT Engineering KENDRA MEYERVP, Sourcing and SAM JAMESSVP, Finance and IRJAY SOUPENESVP and Head of CEFCO Procurement BRAD HAGA Not pictured below:JOSH GONDEK