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ANKENY, Iowa - Casey’s General Stores Inc. (NASDAQ:CASY) reported better-than-expected third quarter results, sending shares up 4% in after-hours trading.
The convenience store chain posted earnings per share of $2.33, surpassing analyst estimates of $2.03. Revenue came in at $3.9 billion, beating the consensus forecast of $3.76 billion.
Inside same-store sales increased 3.7% YoY, driven by strong performance in prepared food and dispensed beverages. Fuel same-store gallons sold rose 1.8% compared to the prior year.
"Casey’s delivered an excellent third quarter highlighted by strong sales growth both inside and outside the store," said Darren Rebelez, Chairman, President and CEO.
Total (EPA:TTEF) inside sales jumped 15.3% to $1.4 billion, while fuel gallons sold surged 20.4% to 829.8 million gallons. The company attributed the growth primarily to unit expansion, including the recent Fikes acquisition.
Casey’s updated its fiscal 2025 outlook, now expecting EBITDA to increase approximately 11%. The company maintained its forecast for 3-5% same-store inside sales growth and -1% to +1% same-store fuel gallon growth for the full year.
"Our fuel team did a tremendous job achieving same-store gallon growth of 1.8% while maintaining a solid fuel margin," Rebelez added.
The company operated 2,893 stores as of January 31, 2025, an increase of 235 stores from the prior year period.
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