Harsh winter and fire cut into profits of Casey’s General Stores
The brutal winter and a fire are blamed for a dip in profits for Casey’s General Stores. Bill Walljasper, chief financial officer of the Ankeny-based company, spoke about Casey’s third-quarter performance on a conference call this morning. He said the convenience store chain recorded profits of $14.7 million, or 38 cents a share, for the three months ending Jan. 31, compared with $15.5 million, or 40 cents a share, from the same time a year ago.
The fire, which destroyed a store in Clarksville in early November, cost the company $700,000. The company also spent $900,000 on utility bills and snow removal. Casey’s General Stores’ overall revenue, however, rose in the third quarter.
In the third quarter, Casey’s had 52 more stores in business compared to a year ago.