Caseys General Stores Inc (NASDAQ: CASY)

Casey’s General Stores, Inc. operates convenience stores primarily under the Casey’s and Casey’s General Store names, along with the GoodStop, CEFCO, Bucky's and Lone Star Food Store brands, across 20 states with a concentration in Iowa, Missouri and Illinois. The company offers fuel, freshly prepared food, beverages, tobacco, groceries, health and beauty aids, automotive products and other non food items through its stores. As of April 30, 2025 it ran 2,904 stores, of which approximately 71% were in communities with fewer than 20,000 persons.

The company generates revenue mainly from the retail sale of motor fuel and the merchandise sold in its stores, including prepared food, drinks, snacks and other convenience items. In addition, a small portion of revenue comes from wholesale fuel supply to dealer sites and other wholesale locations, which accounted for about 2% of total revenue for the fiscal year ended April 30, 2025. The company also earns income from car wash services at 260 locations.

The company operates through the following segments: Casey's Marketing Company, Casey's Services Company, Casey's Retail Company and CGS Stores, LLC.

• Casey's Marketing Company: This segment owns and/or operates stores in Arkansas, Indiana, Iowa, Kentucky, Missouri, Ohio, Oklahoma, Wisconsin and Texas, and manages the wholesale fuel network and the 3 distribution centers that supply most stores with groceries, food, health and beauty aids and general merchandise.

• Casey's Services Company: This segment provides construction, maintenance and transportation services for all company stores.

• Casey's Retail Company: This segment owns and/or operates stores in Illinois, Kansas, Michigan, Minnesota, Nebraska, North Dakota and South Dakota, holds the rights to the company's trademarks, service marks, trade names and other intellectual property, and performs most corporate and strategic functions.

• CGS Stores, LLC: This segment owns and/or operates stores in Tennessee.

Casey’s General Stores, Inc. competes primarily on price, location, extended hours, product variety and service quality against local grocery and convenience stores, dollar stores, prepared food outlets, restaurants, expanded fuel stations, supermarkets, drug store chains and other convenience store operators. Its competitive advantages include a broad product offering that features proprietary pizza and a range of made to order foods, a loyalty program with over 9,000,000 members, ownership of most store real estate and a vertically integrated distribution and fuel supply network.

The company serves individual consumers including commuters, local residents and travelers who stop for fuel, food, drinks and other convenience products. No specific customer names are disclosed in the filing.