What is a RIN credit? As a competitor in the pizza category, CASY is making a dramatic effect in sales to local restaurants in many markets. Not so much metro markets, but they had a surprising market share and loyal customers in the rural markets which is their bread and butter. I've owned the stock since high school, (25+ years), it is my single best investment, and it will continue to grow for a long long time. They went from a nobody in the pizza marketplace to being # 5 in the country in terms of # of units. Food is where a majority of their profits come from.
CASEY is earning significant eps from RIN credits, which are likely to go away or drop substantially I would think. Are competitors also earning them, and consequently how well will margins hold up if/when RIN disappears? I wish there were some discussion on the CC.
In 2011 Casey made $.98 per share for the quarter, and that is without the approximately $.13 per share RIN credits which I would think are likely to go away now that the EPA has reduced the ethanol mandate. Perhaps there were RIN credits in 2011 and Casey did not bother to identify them in their earnings release.