Financial Highlights

Casey’s General Stores Inc. reported first‑quarter results for the period ended July 31, 2026. Adjusted earnings per share were $7.37, surpassing the analyst consensus of $6.68 by $0.69. Revenue reached $5.68 billion, beating the $5.57 billion estimate and representing a 24.3% increase year‑over‑year from $4.57 billion in the comparable quarter last year. Net income rose 27.1% YoY to $273.7 million, and EBITDA increased 17.1% YoY to $485.1 million.

Same‑Store Sales Performance

Inside same‑store sales grew 3.2% in the quarter, a deceleration from the 4.3% growth recorded a year earlier. Total inside sales amounted to $1.78 billion, up 5.6% YoY. Same‑store sales of prepared food and dispensed beverages rose 4.8% versus a 5.6% increase in the prior year, while grocery and general merchandise same‑store sales climbed 2.7% compared with 3.8% previously. Fuel‑related same‑store gallons sold declined 0.3% after a 1.7% rise in the year‑ago quarter, although fuel margin expanded to 47.8 cents per gallon from 41.0 cents.

Operating Expenses and Store Expansion

Operating expenses increased 8.0% to $754.1 million, driven by the higher store count, rising credit‑card fees and higher labor costs. At quarter‑end the company operated 2,959 stores, up 64 locations from the prior year. Casey’s reaffirmed its fiscal 2027 outlook, projecting inside same‑store sales growth of 2% to 5%, same‑store fuel gallons sold between –1% and +1%, and EBITDA growth of 8% to 10%. The company also indicated it expects to open at least 120 new stores during the fiscal year.

Management Commentary and Market Reaction

Chairman, President and CEO Darren Rebelez said the company is “off to a great start on our three‑year strategic plan, highlighted by a nearly 28% increase in diluted EPS,” and noted strong guest response to the prepared‑food offering, especially whole pies. Despite the earnings beat, Casey’s shares slipped 7.5% in after‑hours trading on Tuesday as investors focused on the slowing same‑store sales growth and the unchanged full‑year guidance.