Casey’s General Stores, Inc. (NASDAQ: CASY) has reported a strong financial performance for the fourth quarter ending April 30, 2024, exceeding analyst expectations. Following the earnings report, CASY stock surged by 5.6%.
The convenience store chain revealed a diluted EPS of $2.34, a significant increase from the analyst’s projection of $1.71, marking a 57% rise from the previous year. Total revenue for the quarter stood at $3.6 billion, surpassing the consensus estimate of $3.47 billion.
The company’s net income soared by 55% to $87 million, while EBITDA climbed by 32% to $219 million compared to the prior year. Same-store sales inside the stores saw a 5.6% increase, leading to a total inside gross profit surge of 16.2% to $517.6 million. Fuel same-store gallons sold also saw a modest uptick of 0.9%, with total fuel gross profit rising by 15.4% to $253.6 million.
Casey’s success was attributed to strong sales in hot sandwiches, dispensed beverages, and alcoholic and non-alcoholic drinks, boosting inside margins by 160 basis points for the quarter. The company also highlighted operational efficiency and the successful integration of new stores as contributing factors to its positive performance.
Looking forward to fiscal 2025, Casey’s anticipates an EBITDA growth of at least 8% and inside same-store sales growth ranging between 3% to 5%, with inside margins expected to be on par with fiscal 2024.
