⛽ Casey's General Stores crushed earnings estimates... and got sold anyway.

Let's talk about Casey's General Store, Pete, because apparently um people uh are shopping at Casey's but not buying as much. They're not buying as much gasoline surprise surprise because prices are up. Um they're not buying a lot of things as much as they used to at Casey's. And I think a lot of us would understand why. It's kind of the reverse of the tradeown. Because when you're talking about a uh I'll call them a convenience store like 7-Eleven with gas pumps, when you're kind of like that, do you really think other than the perhaps the uh the the gallon of milk that they put out there on the sign that says a gallon of milk for $2.40 or whatever? Other than that, do you really go in there thinking you're getting a deal on food items and so forth? Or do you think that the convenience part of the convenience store is higher prices? And I think a lot of people have had to moderate their uh trips to Casey's for that reason. Pete, >> you know, I still love them, John. Um I I got to tell you, their Q1, they beat on the earnings, they beat on the revenue. They they did say that things were slowing on the inside and and it's reflected by the numbers that they put up for the side the the store sales. 4.3% is what they were. Now they're 3.2%. So yes, that's come down. You look at their earnings though, they earned 437. They were looking for 306. So um gives you a little bit of an idea that they're doing something right, but yes, inside the stores, people aren't buying as much. And I think for exactly the reason you're talking about, John, I mean, it it is a little bit more of an inflated number. And for a long time, that used to be one of the parts of the stop that so many people they talked about the pizza, John. They talked about a lot of the food that's there that people would go there for that reason even and and and so um you know I I liked this company for a really long time. I got out of it a while back quite a while back. But uh on this drop, it it makes me kind of interested because if indeed we can ever turn this whole thing with Iran, I truly think that we're going to actually start to really make some huge moves in certain areas and some of those that have been punished will be back in in the in the category of somebody that people might want to buy. So, I'm going to look at this one a little bit closer. Not saying I'm doing anything with it right now, but um I I've liked it in the past for all the reasons. And shoot, when you beat those earnings by that much, they're doing something right for sure over at Casey's. Yep, I agree. Um but again, u I think you're exactly right about uh uh they need gas prices to come down. The president needs oil prices to come down. Um if that happens, Casey's will do a lot better. the president will do a lot better. >> But it's a question of when, not if, because there's going to be enough oil sooner or later, Pete. It's just a question of getting it out both out of Venezuela where a bunch of firms have moved in there to basically tap those oil fields that uh had been just languishing and uh the straightup hormuz and the new areas that the president is pushing through uh to get basically crude oil from the Middle East to the market uh safer. Hey hey hey.