ANKENY, Iowa - Casey's General Stores (NASDAQ:CASY) reported better-than-expected second quarter earnings, sending shares up 0.8% in after-hours trading on Monday.
The convenience store chain posted adjusted earnings per share of $4.85, surpassing analyst estimates of $4.30. Revenue came in at $3.95 billion, slightly below the consensus forecast of $4.06 billion.
Inside same-store sales increased 4.0% compared to the prior year, driven by strong performance in prepared food and dispensed beverages. The company's inside margin expanded to 42.2%, up from 41.1% a year ago.
"Casey's delivered a strong second quarter highlighted by robust inside gross profit growth," said Darren Rebelez, President and CEO. "Inside same-store sales were driven by the prepared food and dispensed beverage category, with hot sandwiches and cold dispensed beverage performing exceptionally well."
Fuel gallons sold rose 6.2% YoY, though same-store gallons dipped 0.6%. The company achieved a fuel margin of 40.2 cents per gallon.
Looking ahead, Casey's updated its fiscal 2025 outlook to account for the recent acquisition of Fikes Wholesale. The company now expects EBITDA to increase at least 10% for the full year.
Casey's maintained its forecast for 3-5% growth in inside same-store sales and expects to add approximately 270 new stores in fiscal 2025.
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