Casey's General Stores Reports Q1 Beat, While Revenues Miss, Reiterates Outlook By Investing.com

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Casey's General Stores Reports Q1 Beat, While Revenues Miss, Reiterates Outlook

Published Sep 07, 2022 18:36

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Casey's General Stores Reports Q1 Beat, While Revenues Miss, Reiterates Outlook

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By Davit Kirakosyan

Casey's General Stores (NASDAQ:CASY) reported its Q1 results, with EPS of $4.09 coming in better than the consensus estimate of $3.43, while revenue of $4.45 billion missing the consensus estimate of $4.48 billion.

Inside same-store sales grew 6.3% year-over-year. Fuel gallons decreased 2.3% year-over-year on a same-store basis.

“Casey's delivered another strong quarter to its shareholders due to strong inside sales and robust fuel margin. Inside same-store sales were driven by prepared food and dispensed beverages, most notably pizza slices, our refreshed breakfast menu, as well as cold dispensed beverages. Alcoholic beverage sales remain strong as our team continues to leverage our approximately 1,500 liquor licenses throughout our store base,” said Darren Rebelez, President and CEO of Casey's General Stores.

The company reiterated its fiscal 2023 outlook, expecting same-store inside sales to grow in the range of 4%-6% with an inside margin of approximately 40%. The company anticipates same-store fuel gallons growth to be in the range of 0%-2%.

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