Casey’s Common Shops beats Q2 earnings estimates, shares edge greater

ANKENY, Iowa – Casey’s Common Shops (NASDAQ:CASY) reported better-than-expected second quarter earnings, sending shares up 0.8% in after-hours buying and selling on Monday.

The comfort retailer chain posted adjusted earnings per share of $4.85, surpassing analyst estimates of $4.30. Income got here in at $3.95 billion, barely under the consensus forecast of $4.06 billion.

Inside same-store gross sales elevated 4.0% in comparison with the prior 12 months, pushed by sturdy efficiency in ready meals and allotted drinks. The corporate’s inside margin expanded to 42.2%, up from 41.1% a 12 months in the past.

“Casey’s delivered a robust second quarter highlighted by sturdy inside gross revenue development,” mentioned Darren Rebelez, President and CEO. “Inside same-store gross sales had been pushed by the ready meals and allotted beverage class, with scorching sandwiches and chilly allotted beverage performing exceptionally nicely.”

Gasoline gallons offered rose 6.2% YoY, although same-store gallons dipped 0.6%. The corporate achieved a gasoline margin of 40.2 cents per gallon.

Trying forward, Casey’s up to date its fiscal 2025 outlook to account for the latest acquisition of Fikes Wholesale. The corporate now expects EBITDA to extend not less than 10% for the total 12 months.

Casey’s maintained its forecast for 3-5% development in inside same-store gross sales and expects so as to add roughly 270 new shops in fiscal 2025.

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