Casey’s General Stores, Inc. (NASDAQ:CASY) shares are trading higher Wednesday after the company reported fourth-quarter earnings on Tuesday after the market closed.
- Casey’s stock is building positive momentum. What’s pushing CASY stock higher?
Casey’s reported earnings per share of $4.37, beating the consensus estimate of $3.31. In addition, it reported revenue of $4.57 billion, beating the consensus estimate of $4.30 billion.
Inside the Store
Inside same-store sales were up 5.5% compared to the prior year — and 7.4% on a two-year stack basis — with an inside margin of 42.4%. Total inside gross profit increased 10.5% to $643.4 million compared to the prior year, led by strong performance in prepared foods and non-alcoholic beverages.
Fuel
Fuel same-store gallons were up 1.5% compared to the prior year, with a fuel margin of 46.9 cents per gallon. Total fuel gross profit increased 29.1% to $397.4 million compared to the prior year.
Capital Returns
The company repurchased approximately $63 million of shares during the quarter. On June 4, the Board of Directors authorized an expansion of its share repurchase program to a total of $1 billion, with no expiration date. The Board also voted to increase the quarterly dividend by 14% to $0.65 per share — the 27th consecutive year of dividend increases — payable August 14, 2026.
Balance Sheet
At April 30, the company had approximately $1.4 billion in available liquidity, consisting of approximately $523 million in cash and approximately $900 million in available borrowing capacity on existing lines of credit.
“Casey’s delivered another record fiscal year as our team closed out the three-year strategic plan on an extremely high note,” said Darren Rebelez, President and CEO.
Casey’s Shares Edge Higher
CASY Price Action: At the time of publication, Casey’s stock is trading 1.42% higher at $772.00, according to data from Benzinga Pro.
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