Casey’s General Stores ( (CASY) ) has released its Q2 earnings. Here is a breakdown of the information Casey’s General Stores presented to its investors.
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Casey’s General Stores, Inc. is a prominent convenience store chain in the United States, known for offering a wide range of products, including fuel and prepared foods, across its numerous locations.
Casey’s reported a strong performance for the second quarter, with a notable increase in key financial metrics such as net income, diluted earnings per share, and EBITDA. The company achieved robust inside gross profit growth, primarily driven by its prepared food and dispensed beverage categories.
For the quarter, Casey’s saw a 14% increase in diluted EPS and net income, reaching $4.85 and $181 million, respectively. Inside same-store sales grew by 4.0%, leading to a 12.0% rise in total inside gross profit. Fuel gross profit also saw an increase, despite a slight decline in same-store fuel gallons sold. The acquisition of 198 CEFCO Convenience Stores from Fikes Wholesale post quarter-end is expected to impact financials positively in the upcoming quarters.
Looking ahead, Casey’s remains optimistic about its fiscal 2025 outlook, projecting a significant increase in EBITDA due to the Fikes acquisition. The company plans to add approximately 270 stores for the fiscal year and expects moderate growth in inside same-store sales and fuel margins.
