CASEYS GENERAL STORES INC (CASY) Risk Factors

Recent key developments

Concrete developments — dated events, named agreements and instruments, legal proceedings — that CASEYS GENERAL STORES INC surfaced in its latest filing.

• Total credit card fees incurred in fiscal 2026 were $279 millionfiscal 2026
• Covenants in Senior Notes and credit facility agreements require compliance with certain covenants and financial maintenance tests
• Recent state-mandated minimum wage increases have increased operating expenses significantly
• Tobacco and nicotine revenue and less-cost-of-goods-sold each averaged approximately 9% of totals over the past three fiscal yearspast three fiscal years
• Major cigarette and other tobacco/nicotine manufacturers currently offer significant rebates to retailers, and rebates are included as a component of cost of goods sold
• Retail fuel revenues accounted for approximately 62% of total revenue over the past three fiscal yearspast three fiscal years
• Retail fuel revenue less cost of goods sold accounted for approximately 34% of total revenue less cost of goods sold over the past three fiscal yearspast three fiscal years
• The Board may issue up to one million shares of preferred stock without shareholder approval, with rights including economic rights senior to common stock
• Iowa law imposes a three-year moratorium on business combinations with interested shareholders unless approved in a prescribed manner, and permits the board to consider effects on Team Members, suppliers, guests, creditors, and communities in takeover proposals