Casey’s General Stores, Inc. (NASDAQ:CASY) reported second-quarter earnings that exceeded analyst expectations on Wednesday, but shares fell 4% intra-day as investors appeared to lock in gains following a period of strong stock performance.
The company posted earnings of $5.53 per share, beating the $5.18 consensus. Revenue totaled $4.51 billion, slightly ahead of the $4.5 billion estimate. Net income rose 14% to $206.3 million year-over-year.
Inside same-store sales increased 3.3%, or 7.5% on a two-year basis, with inside margins improving to 42.4%. Inside gross profit climbed 13.5% to $703.4 million. Fuel results were also solid, with same-store gallons up 0.8% and a fuel margin of 41.6 cents per gallon, contributing to a 20.9% increase in fuel gross profit to $377.4 million.
The company continued to expand aggressively, operating 2,921 stores as of October 31, up nearly 9% from the prior year. The quarter included 16 newly built locations and 26 acquired stores.
Casey’s raised its fiscal 2026 outlook, now expecting EBITDA growth of 15% to 17%. Inside same-store sales were projected to rise 3% to 4%, with margins between 41% and 42%.
