CASY Casey's General Stores, Inc.

Risks

• Pandemics or disease outbreaks, such as the novel coronavirus (“COVID-19”), responsive actions taken by governments and others to mitigate their spread, and guest behavior in response to these events, have, and may in the future, adversely affect our business operations, supply chain and financial results.
• Our business and our reputation could be adversely affected by a data security incident or the failure to protect sensitive guest, team member or supplier data, or the failure to comply with applicable regulations relating to data security and privacy.
• The convenience store industry is highly competitive.
• The volatility of wholesale petroleum costs could adversely affect our operating results.
• General economic conditions that are largely out of the Company’s control may adversely affect the Company’s financial condition and results of operations.
• Governmental action and campaigns to discourage tobacco and nicotine use and other tobacco products may have a material adverse effect on our revenues and gross profit.
• Consumer or other litigation could adversely affect our financial condition and results of operations.
• Increased credit card expenses could increase operating expenses.
• Developments related to fuel efficiency, fuel conservation practices, climate change, and changing consumer preferences may decrease the demand for motor fuel.
• Wholesale cost and tax increases relating to tobacco and nicotine products could affect our operating results.
• Food-safety issues and food-borne illnesses, whether actual or reported, or the failure to comply with applicable regulations relating to the transportation, storage, preparation or service of food, could adversely affect our business and reputation.
• Any failure to anticipate and respond to changes in consumer preferences, or to introduce and promote innovative technology for guest interaction, could adversely affect our financial results.
• We rely on our information technology systems, and a number of third-party vendor platforms, to manage numerous aspects of our business, and a disruption of these systems could adversely affect our business.
• A significant disruption to our distribution network, to the capacity of the distribution centers, or timely receipt of inventory could adversely impact our sales or increase our transaction costs, which could have a material adverse effect on our business.
• We may experience difficulties implementing and realizing the results of our strategic plan.
• Unfavorable weather conditions can adversely affect our business.
• Because we depend on our management’s and other team members’ experience and knowledge of our industry, we could be adversely affected were we to lose, or experience difficulty in recruiting and retaining, any such members of our team.
• We may experience increased costs, disruptions or other difficulties with the implementation, operation and functionality of our enterprise resource planning system.
• Control deficiencies could prevent us from accurately and timely reporting our financial results.
• Our operations present hazards and risks which may not be fully covered by insurance, if insured.
• We may not be able to identify, acquire, and integrate new properties and stores, which could adversely affect our ability to grow our business.
• Covenants in our senior notes and credit facility agreements require us to comply with certain covenants and meet financial maintenance tests. Failure to comply with these requirements could have a material impact to us.
• Compliance with and changes in tax laws could adversely affect our performance.
• We are subject to extensive governmental regulations.
• The dangers inherent in the storage and transport of motor fuel could cause disruptions and could expose to us potentially significant losses, costs or liabilities.
• The market price for our common stock has been and may in the future be volatile, which could cause the value of your investment to decline.
• Any issuance of shares of our common stock in the future could have a dilutive effect on your investment.
• Iowa law and provisions in our charter documents may have the effect of preventing or hindering a change in control and adversely affecting the market price of our common stock.