Casey's General Stores, Inc. (CASY) Earnings Call Transcript & Summary

Good day and welcome to the Casey's General Stores, Inc. 2020 Annual Meeting of Stockholders. I would now like to turn the conference over to Julie Jackowski. Please go ahead.

Good morning, ladies and gentlemen, and welcome. I'm Julie Jackowski, Chief Legal Officer and Corporate Secretary of Casey's. I'm pleased to welcome you to our 2020 Annual Shareholders Meeting. Before we begin, I would like to remind you that today's remarks, including the question-and-answer session, may constitute forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995, including those related to expectations for future periods, possible or assumed future results of operations, financial conditions, liquidity and needs, the company's supply chain, business strategies, growth opportunities, performance at our stores and the potential effects of COVID-19. There are a number of known and unknown risks, uncertainties and other factors that may cause our actual results to differ materially from any results expressed or implied by those forward-looking statements, including, but not limited to, the impact and duration of COVID-19 and related governmental actions as well as other risks, uncertainties and factors which are described in the company's most recent annual report on Form 10-K and quarterly reports on Form 10-Q as filed with the Securities and Exchange Commission and available on our website. Any forward-looking statements presented today represent our current views as of today's date with respect to future events, and Casey's disclaims any intention or obligation to update or revise any forward-looking statements whether as a result of new information, future events or otherwise. At the end of the meeting, there will be an opportunity for questions related to the business at hand and if appropriate, we will follow-up on any questions outside of the scope of this meeting. At this time, I'd like to hand the meeting over to Lynn Horak, Board Chair for Casey's General Stores.

Thank you, Julie. As Julie said, I'm Lynn Horak, Board Chair for Casey's General Stores. Speaking on behalf of the Casey's family, we're excited to have you here today and want to thank you for your time and investment in this company. At this time, let me introduce the other members of our Board of Directors. Our Board provides valuable guidance and energy each year that helps Casey's continue to build shareholder value. Darren Rebelez, Darren is our President and Chief Executive Officer; Diane Bridgewater, Diane is Executive Vice President, Chief Financial and Administrative Officer of Life Care Services; Don Frieson, Don is the Executive Vice President of Supply Chain of Lowe's Companies; Cara Heiden, Cara is a retired Co-President of Wells Fargo Home Mortgage; David Lenhardt, David is the past President and Chief Executive Officer of PetSmart, Inc.; Larree Renda, Larree is a retired Executive Vice President of Safeway Inc.; Judy Schmeling, Judy is the former Chief Operating Officer of HSN, Inc. and former President of Cornerstone Brands; Allison Wing, Ali is the former Chief Consumer Officer of Bright Health. Please join me in thanking our Board who worked diligently to represent the best interest of our shareholders. I'd also like to introduce the Casey's senior leadership team as there are many new additions in this past year. The team includes Steve Bramlage, Chief Financial Officer; Tom Brennan, Chief Merchandising Officer; Adrian Butler, Chief Information Officer; Chad Frazell, Chief Human Resources Officer; Julie Jackowski, Chief Legal Officer and Corporate Secretary; Chris Jones, Chief Marketing Officer; Ena Williams, Chief Operating Officer. We're excited about the team we have in place as Casey drives and accelerates its strategic plan forward. I will now turn the meeting back over to Julie.

We have received an affidavit of distribution from Broadridge establishing that notice of this meeting was given. In addition, a certified shareholders' list as of the close of business on July 6, 2020, the record date, was prepared and certified by Computershare, the company's transfer agent. The affidavit and shareholders' lists are available for inspection at the company's principal office location and will be filed with the records of the company. The presence in person or by proxy of shareholders entitled to cast the majority of all votes entitled to be cast at the meeting constitutes a quorum. We have a quorum present. As such, I therefore declare this meeting open for business. The business of this meeting includes 3 items: first, to elect 7 directors to serve until the next Annual Shareholders' Meeting and until their successors are elected and qualified; second, to ratify the appointment of KPMG LLP as the company's independent registered public accounting firm for the fiscal year ending April 30, 2021; and third, to hold an advisory vote on our named executive officer compensation. The 7 nominated directors include: Lynn Horak; David Lenhardt; Diane Bridgewater; Darren Rebelez; Larree Renda; Judy Schmeling; and Allison Wing. The company has not received notice of any other nominees, and therefore, I declare the nominations closed. We will also vote on the proposal to ratify appointment of the independent auditor and on the advisory vote on named executive officer compensation. The company has not received any other shareholder proposals. I now declare the polls open for voting. As a reminder, you may vote until the polls close by clicking on the Vote Now button on the virtual meeting portal screen and following the instructions provided. In addition, if you have any questions related to the 3 matters to be voted on, please type your question in the Ask a Question box on the virtual meeting portal screen and click Submit. We will take a moment to see if any such questions come through and to provide you the opportunity to vote. Any questions not directly related to the 3 proposals will be covered in the question-and-answer session. At this time, we will pause for a moment to allow for any additional votes and questions. [Voting]