Casey’s Skips Financials in Board-Focused Release
The convenience-store operator disclosed no earnings or operating metrics in its latest update.
Casey’s General Stores (CASY) omitted all financial results and operating metrics in its June 8 release, which centered on board changes instead of quarterly performance. The convenience-store chain, which had reported full earnings in every prior quarter, disclosed only the appointment of a new director and the retirement of another.
The silence broke a pattern of detailed disclosures that had shown decelerating growth in its most recent quarter. In the April-ended period, diluted earnings rose 12.4% year-over-year to $2.63 a share, while net income grew 13.0% to $98.3 million. Both figures marked slower gains than the full fiscal year, when earnings per share climbed 13.4% and net income increased 14.5%.
Inside same-store sales, a key traffic indicator, slowed to 1.7% growth in the fourth quarter from 5.6% a year earlier, and the two-year stack fell to 7.4% from 7.1%. Prepared-food sales decelerated sharply to 1.5% growth from 8.8% in the prior-year period, and margins compressed to 57.8% from 58.1%. Grocery and general merchandise same-store sales also cooled, rising 1.8% after a 4.3% gain in the year-ago quarter, though margins expanded to 34.8% from 34.4%.
Fuel remained a bright spot in gross-profit terms. Same-store gallons sold grew just 0.1%, down from 0.9% a year earlier, but fuel margin widened to 37.6 cents a gallon from 36.5 cents, lifting total fuel gross profit 21.4% to $307.8 million. The company attributed the gain to higher volumes from 246 additional stores and a $3.3 million year-over-year increase in RINs sales.
Store count reached 2,904 at April 30, up from 2,658 a year earlier, driven by 235 acquisitions—including the Fikes Wholesale deal—and 35 new builds, the largest annual increase in company history. Operating expenses rose 14.5%, with 12% of the increase tied to the additional locations and $4 million in one-time acquisition costs.
Casey’s had provided fiscal 2026 guidance in its prior release, projecting EBITDA growth of 10% to 12%, inside same-store sales of 2% to 5%, and same-store fuel gallons ranging from -1% to +1%. The June 8 filing made no mention of those targets or any share-repurchase activity, leaving $295 million remaining under its authorization.
The company had raised its quarterly dividend 14% to $0.57 a share in June 2025, extending its streak of annual increases to 26 years, but the latest release did not address the payout.