Casey's General Stores Hits Record Highs In Q3 FY24 With Impressive Inside And Fuel Sales Performance
Written by Emily J. Thompson, Senior Investment Analyst
Updated: Mar 12 2025
0mins
Source: Benzinga
Financial Performance: Casey's General Stores reported a strong third-quarter FY24, with revenue of $3.90 billion surpassing expectations, same-store sales up 3.7% year-over-year, and EBITDA increasing by 11.4%. The company also announced a quarterly dividend of $0.50 per share.
Future Outlook: The company anticipates an 11% increase in EBITDA for FY25, plans to add approximately 270 stores, and projects same-store inside sales growth of 3% to 5%, while fuel gallon sales may fluctuate between a decline of 1% to an increase of 1%.
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Analyst Views on CASY
Wall Street analysts forecast CASY stock price to fall
10 Analyst Rating
6 Buy
4 Hold
0 Sell
Moderate Buy
Current: 865.280
Low
530.00
Averages
609.33
High
700.00
Current: 865.280
Low
530.00
Averages
609.33
High
700.00
About CASY
Casey's General Stores, Inc. and its subsidiaries operate approximately 2,900 convenience stores in 19 states. It offers freshly prepared foods such as regular and breakfast pizza, donuts, hot breakfast items, and hot and cold sandwiches), beverages, tobacco and nicotine products, groceries, health and beauty aids, automotive products, and other non-food items. It offers a range of fuels, including E-10 gasoline, High Octane gasoline, Biodiesel, Winterized diesel, and Ethanol-free gasoline. It sells a range of tobacco products, including cigarettes, E- cigarettes and vapor, chewing tobacco nicotine pouches, and rolling paper and accessories. Its subsidiaries operate convenience stores primarily under the names Casey's and Casey's General Store. The Company also operates stores under additional brands such as GoodStop or CEFCO. These locations offer fuel for sale, and a broad selection of snacks, beverages, tobacco products, and other essentials.
About the author
Emily J. Thompson
Emily J. Thompson, a Chartered Financial Analyst (CFA) with 12 years in investment research, graduated with honors from the Wharton School. Specializing in industrial and technology stocks, she provides in-depth analysis for Intellectia’s earnings and market brief reports.
Casey's General Stores to Host 2026 Investor Day in NYC
- Investor Day Announcement: Casey's General Stores (CASY) will hold its 2026 Investor Day in New York City on June 24, where it will unveil its new three-year strategic plan, likely boosting investor interest and market confidence.
- Sales and Profit Surge: Driven by rising fuel prices and increased in-store sales, Casey's reported double-digit gains in both sales and profits for Q4 FY2023, with same-store sales up 5.5%, enhancing inside margins by 120 basis points, showcasing robust operational performance.
- Fuel Profit Growth: The company's total fuel gross profit surged 29.1% year-over-year, primarily due to increased gallons sold and improved fuel margins, further solidifying its competitive position in the market.
- Future Growth Outlook: Analyst Corey Tarlowe is bullish on Casey's, noting that unit growth opportunities and ongoing initiatives to enhance its prepared food business should drive performance higher, with projected EBITDA growth of 8%-10% for FY2027 and plans for at least 120 new store openings.
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- Event Format: The event will feature presentations and a Q&A session with Casey's leadership team; while in-person attendance is by invitation only, all interested parties can register to access the live webcast, reflecting the company's commitment to transparency and investor communication.
- Schedule Details: Scheduled to begin at 9:30 a.m. EDT and conclude at 1:30 p.m. EDT, the event allows ample time for in-depth discussions and interactions, aiming to bolster investor confidence in the company's future direction.
- Information Access: Following the event, the webcast and presentation slides will be available on the Investor Relations page for twelve months, ensuring that investors who cannot attend can still access key information, further promoting information dissemination and investor engagement.
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- Revenue Growth Trend: Casey's General Stores reported in its Q4 earnings call that consumer spending is growing across all income segments despite economic pressures, particularly among customers earning over $50,000, who represent three-quarters of its customer base, indicating the company's success in diversifying its product offerings.
- Strong Performance: The company achieved diluted earnings per share of $4.37 in Q4, a 66% increase year-over-year, while total inside sales rose 7.4% to over $1.5 billion, and fuel gross profit increased to $0.469 per gallon, up approximately $0.093 from the previous year, reflecting robust market demand.
- Market Dynamics Shift: Despite overall sales growth, Casey's observed subtle shifts in consumer behavior at the fuel pump, including a slight decline in premium fuel sales and a shift towards cheaper ethanol-blended fuel, indicating a cautious approach to spending among consumers.
- Future Outlook: The company projects EBITDA growth of 8% to 10% for fiscal 2027 and plans to open at least 120 new stores through acquisitions and new construction, demonstrating confidence in future growth and strategic market expansion.
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- Oil Price Surge: Crude oil prices rose over 2% due to escalating tensions in the Middle East, which not only exacerbated losses in stocks and bonds but also pressured airline and trucking companies, highlighting the profound impact of energy price fluctuations on the overall market.
- Stable Inflation Data: The US May Consumer Price Index rose 4.2% year-over-year, in line with expectations, while core CPI increased by 2.9%, alleviating some inflation concerns, although rising oil prices may reignite scrutiny over inflationary pressures.
- Tech Stock Retreat: Chipmakers and AI infrastructure stocks experienced significant declines, with Nvidia and Tesla both dropping over 3%, reflecting a waning confidence in tech stocks that could influence future investment strategies.
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Casey's General Stores to Host 2026 Investor Day in NYC
- Investor Day Announcement: Casey's General Stores (CASY) will hold its 2026 Investor Day in New York City on June 24, where it will unveil its new three-year strategic plan, likely boosting investor interest and market confidence.
- Sales and Profit Surge: Driven by rising fuel prices and increased in-store sales, Casey's reported double-digit gains in both sales and profits for Q4 FY2023, with same-store sales up 5.5%, enhancing inside margins by 120 basis points, showcasing robust operational performance.
- Fuel Profit Growth: The company's total fuel gross profit surged 29.1% year-over-year, primarily due to increased gallons sold and improved fuel margins, further solidifying its competitive position in the market.
- Future Growth Outlook: Analyst Corey Tarlowe is bullish on Casey's, noting that unit growth opportunities and ongoing initiatives to enhance its prepared food business should drive performance higher, with projected EBITDA growth of 8%-10% for FY2027 and plans for at least 120 new store openings.
See More
Casey's General Stores Announces 2026 Investor Day in NYC
- Investor Day Announcement: Casey's General Stores will host its Investor Day on June 24, 2026, in New York City, where it will unveil a new three-year strategic plan, likely attracting significant attention from investors and analysts, thereby enhancing its influence in the convenience retail and pizza markets.
- Event Format: The event will feature presentations and a Q&A session with Casey's leadership team; while in-person attendance is by invitation only, all interested parties can register to access the live webcast, reflecting the company's commitment to transparency and investor communication.
- Schedule Details: Scheduled to begin at 9:30 a.m. EDT and conclude at 1:30 p.m. EDT, the event allows ample time for in-depth discussions and interactions, aiming to bolster investor confidence in the company's future direction.
- Information Access: Following the event, the webcast and presentation slides will be available on the Investor Relations page for twelve months, ensuring that investors who cannot attend can still access key information, further promoting information dissemination and investor engagement.
See More
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- SpaceX IPO Expectations: SpaceX is set to go public on Friday with a valuation of $75 billion, marking the largest IPO in history, which is expected to inject significant capital into the market, thereby boosting investor confidence and driving growth in related sectors.
- IPO Market Dynamics: So far in 2023, 71 companies have gone public, raising nearly $36 billion, indicating strong demand for emerging enterprises, and SpaceX's IPO is likely to intensify this trend, attracting more investor interest in the tech sector.
- ARK Fund Performance: The ARK Venture Fund holds approximately 11% of SpaceX, with a 4% increase over the past month and over 70% year-to-date, reflecting strong market confidence in SpaceX's growth potential, which may attract more institutional investors.
- Related Stock Performance: Several space-related stocks, such as Iridium Communications and Virgin Galactic, have surged over 100% and 96% in the past three months, respectively, demonstrating investor enthusiasm for the space industry, and SpaceX's IPO is expected to further fuel this investment frenzy.
See More
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- Revenue Growth Trend: Casey's General Stores reported in its Q4 earnings call that consumer spending is growing across all income segments despite economic pressures, particularly among customers earning over $50,000, who represent three-quarters of its customer base, indicating the company's success in diversifying its product offerings.
- Strong Performance: The company achieved diluted earnings per share of $4.37 in Q4, a 66% increase year-over-year, while total inside sales rose 7.4% to over $1.5 billion, and fuel gross profit increased to $0.469 per gallon, up approximately $0.093 from the previous year, reflecting robust market demand.
- Market Dynamics Shift: Despite overall sales growth, Casey's observed subtle shifts in consumer behavior at the fuel pump, including a slight decline in premium fuel sales and a shift towards cheaper ethanol-blended fuel, indicating a cautious approach to spending among consumers.
- Future Outlook: The company projects EBITDA growth of 8% to 10% for fiscal 2027 and plans to open at least 120 new stores through acquisitions and new construction, demonstrating confidence in future growth and strategic market expansion.
See More
Casey’s Reports Record Earnings and Strong Growth Outlook
- Strong Performance: Casey’s reported fourth-quarter earnings per share of $4.37, exceeding the Zacks consensus estimate of $3.36 by 30.1%, demonstrating robust profitability in a volatile environment.
- Revenue Growth: The company reported revenues of $4.57 billion, surpassing the Zacks consensus estimate of $4.4 billion by 4%, while net income rose 65.5% to $162.7 million and EBITDA increased 33.2% to $350.3 million, indicating the effectiveness of its inside sales strategy.
- Sales and Profit Improvement: Inside sales grew 7.4% to over $1.5 billion in the fourth quarter, with total inside gross profit up $61 million, and inside margin reached 42.4%, up 120 basis points year-over-year, reflecting successful cost management and favorable category mix.
- Future Outlook: Casey’s expects inside same-store sales growth of 2% to 5% for fiscal 2027 and plans to open at least 120 new stores, indicating confidence in expansion and sustained growth despite challenges in fuel and operating expenses.
See More
US Stocks Plunge Amid Rising Geopolitical Tensions
- Market Decline: On Wednesday, the S&P 500 Index fell by 1.62%, the Dow Jones Industrial Average dropped by 1.87%, and the Nasdaq 100 Index decreased by 1.98%, indicating a significant market reaction to rising geopolitical tensions that undermined investor confidence.
- Oil Price Surge: Crude oil prices rose over 2% due to escalating tensions in the Middle East, which not only exacerbated losses in stocks and bonds but also pressured airline and trucking companies, highlighting the profound impact of energy price fluctuations on the overall market.
- Stable Inflation Data: The US May Consumer Price Index rose 4.2% year-over-year, in line with expectations, while core CPI increased by 2.9%, alleviating some inflation concerns, although rising oil prices may reignite scrutiny over inflationary pressures.
- Tech Stock Retreat: Chipmakers and AI infrastructure stocks experienced significant declines, with Nvidia and Tesla both dropping over 3%, reflecting a waning confidence in tech stocks that could influence future investment strategies.
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