Join +750K new investors every month who copy stock picks from billionaire's portfoliosSign Up Free

Casey's General Stores Reports Q1 Beat, While Revenues Miss, Reiterates Outlook

Published 09/07/2022, 06:02 PM
Updated 09/08/2022, 02:23 AM
© Reuters.  Casey's General Stores Repots Q1 Beat, While Revenues Miss, Reiterates Outlook

By Davit Kirakosyan

Casey's General Stores (NASDAQ:CASY) reported its Q1 results, with EPS of $4.09 coming in better than the consensus estimate of $3.43, while revenue of $4.45 billion missing the consensus estimate of $4.48 billion.

Inside same-store sales grew 6.3% year-over-year. Fuel gallons decreased 2.3% year-over-year on a same-store basis.

“Casey's delivered another strong quarter to its shareholders due to strong inside sales and robust fuel margin. Inside same-store sales were driven by prepared food and dispensed beverages, most notably pizza slices, our refreshed breakfast menu, as well as cold dispensed beverages. Alcoholic beverage sales remain strong as our team continues to leverage our approximately 1,500 liquor licenses throughout our store base,” said Darren Rebelez, President and CEO of Casey's General Stores.

The company reiterated its fiscal 2023 outlook, expecting same-store inside sales to grow in the range of 4%-6% with an inside margin of approximately 40%. The company anticipates same-store fuel gallons growth to be in the range of 0%-2%.

Latest comments

Risk Disclosure: Trading in financial instruments and/or cryptocurrencies involves high risks including the risk of losing some, or all, of your investment amount, and may not be suitable for all investors. Prices of cryptocurrencies are extremely volatile and may be affected by external factors such as financial, regulatory or political events. Trading on margin increases the financial risks.
Before deciding to trade in financial instrument or cryptocurrencies you should be fully informed of the risks and costs associated with trading the financial markets, carefully consider your investment objectives, level of experience, and risk appetite, and seek professional advice where needed.
Fusion Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate. The data and prices on the website are not necessarily provided by any market or exchange, but may be provided by market makers, and so prices may not be accurate and may differ from the actual price at any given market, meaning prices are indicative and not appropriate for trading purposes. Fusion Media and any provider of the data contained in this website will not accept liability for any loss or damage as a result of your trading, or your reliance on the information contained within this website.
It is prohibited to use, store, reproduce, display, modify, transmit or distribute the data contained in this website without the explicit prior written permission of Fusion Media and/or the data provider. All intellectual property rights are reserved by the providers and/or the exchange providing the data contained in this website.
Fusion Media may be compensated by the advertisers that appear on the website, based on your interaction with the advertisements or advertisers.
© 2007-2024 - Fusion Media Limited. All Rights Reserved.