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Earnings Calls

Last Earnings Call

Fiscal Period
Q1 2027
Call Date
Sep 9, 2026
AI Summary
Q1 2027

Strong quarter: Casey’s reported diluted EPS of $7.37, up 28% year over year, with EBITDA up 17% to $485 million and total revenue up 24.3% to $5.68 billion.

Food momentum: Prepared food and dispensed beverage same-store sales rose 4.8%, driven mostly by traffic rather than pricing, while units increased nearly 4%.

Fuel performance: Fuel margin was $0.478 per gallon despite a volatile market; same-store gallons declined 0.3%, including an estimated 50 basis point headwind from CEFCO remodels.

CEFCO integration: Remodels temporarily pressured comparable sales, but converted stores are performing well, with prepared food and dispensed beverage sales up approximately 30% versus the pre-remodel period.

Guidance unchanged: Management will update annual guidance with second-quarter results, but said first-quarter results and August trends remain within existing annual ranges.

Growth plan: Casey’s remains on track to add 120 stores this fiscal year, split approximately evenly between new stores and small acquisitions.

Category mix: Nicotine alternatives grew 47% and energy drinks grew 12%, offsetting weakness in beer, snacks and traditional cigarettes.

Strategic initiatives: Rewards membership exceeded 11 million, while chicken wings are expanding beyond 850 stores and creating additional prepared-food occasions.

Key Financials
Diluted EPS
$7.37 per share
Net income
$274 million
EBITDA
$485 million
Total revenue
$5.68 billion
Inside sales
$1.78 billion
Prepared food and dispensed beverage sales
$493 million
Grocery and general merchandise sales
$1.28 billion
Inside same-store sales
up 3.2%
Prepared food and dispensed beverage same-store sales
up 4.8%
Grocery and general merchandise same-store sales
up 2.7%
Inside gross profit margin
42.2%
Prepared food and dispensed beverage gross profit margin
59.3%
Grocery and general merchandise gross profit margin
35.6%
Fuel margin
$0.478 per gallon
Same-store gallons sold
down 0.3%
Total gross profit
$1.24 billion
Operating expenses
up 8%, or $55.9 million
Net interest expense
$22.1 million
Effective tax rate
21.1%
Available liquidity
$1.4 billion
Credit facility debt-to-EBITDA ratio
1.5x
Free cash flow
$190 million
Quarterly dividend
$0.65 per share
Share repurchases
approximately $46 million
Casey’s Rewards members
over 11 million
Store additions
120 stores
Nicotine alternatives sales
up 47%
Energy drink sales
up 12%
Ready-to-drink cocktails
up over 30%
Chicken wings availability
850 stores
CEFCO prepared food and dispensed beverage lift
approximately 30%
Cheese cost
$1.93 per pound
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