Caseys General Stores Inc (NASDAQ:CASY) shares are moving lower in extended trading Tuesday on the heels of the company’s first-quarter results.
- Casey’s General Stores shares are retreating from recent levels. What’s behind CASY decline?
Casey’s Q1 Highlights
- Q1 Revenue: $5.68 billion, versus estimates of $5.57 billion
- Q1 EPS: $7.37, versus estimates of $6.72
Inside same-store sales were up 3.2% year-over-year in the first quarter, down from 4.3% growth in the comparable quarter last year. Fuel same-store gallons sold were down 0.3% on a year-over-year basis.
“Guests are responding well to our compelling value proposition on our high-quality prepared food, especially in whole pies. On the fuel side, our team’s robust capabilities helped us navigate a volatile environment and produced strong results,” said Darren Rebelez, chairman, president and CEO of Casey’s.
Casey’s repurchased approximately $45.6 million of its common stock during the quarter. The company exited the period with approximately $1.4 billion in available liquidity, including approximately $524 million in cash and cash equivalents and approximately $857 million in available borrowing capacity on existing lines of credit.
Casey’s expects inside same-store sales to increase between 2% and 5% in fiscal 2027. The company expects same-store fuel gallons sold to be approximately flat, plus or minus 1%. Casey’s said it plans to open at least 120 stores in fiscal 2027 through a combination of M&A and new store construction.
CASY Shares Fall After Hours
CASY Price Action: Casey’s shares were down 9.69% in after-hours, trading at $662.40 at the time of publication on Tuesday, according to Benzinga Pro.
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