In short: After a ~30% fall on slightly missed same-store sales (~3% vs ~4.5–5% expected, industry-wide softness in cigarettes/alcohol) he calls the selloff "a bit of an overreaction" and the valuation more attractive, but still not cheap; he agrees with a member's ~$450 15%-return entry. An exceptional company, though not as good as Costco or Texas Roadhouse.
Casey's runs convenience stores that double as pizza restaurants, and he had done a deep dive on it. The stock dropped about 30% after same-store sales grew roughly 3% instead of the 4.5–5% investors expected, partly because cigarette and alcohol sales are weak across the whole industry. Because the stock had been priced for strong momentum, a small miss hit hard.
He thinks the drop was a bit of an overreaction and the valuation is now more reasonable, and he agrees with a member that about $450 would be a price offering roughly 15% yearly returns — but he still doesn't see it as cheap, and ranks it below Costco and Texas Roadhouse in quality.
In short: The "parabolic" best-in-class US convenience/gas experience — the bar Couche-Tard is chasing on in-store merchandising. Referenced, not owned.
1:02:06parabolic has been Casey's General Stores. They've got the best consumer experience for gas station and convenience stores. So I think the
1:02:15margins on fuel have been really good at Couche-Tard and I think that they're really now turning to their merchandising side of the business and if they can grow
Nothing matches this filter.
Verbatim excerpts from the public transcripts (auto-pulled at each mention's timestamp, lightly cleaned). Timestamps link into the video; "source page" opens that commentator's full analysis at this row. Click a mention's header line to expand it (one open at a time). For personal study — not investment advice.