Key Highlights
- Shares of Casey’s climbed 15% on Wednesday, reaching $877 following strong earnings results that exceeded analyst projections
- Quarterly earnings per share reached $4.37, significantly outpacing the Street’s $3.31 forecast; total revenue of $4.57B surpassed the $4.33B consensus
- Fuel segment gross profit jumped 29% year-over-year to $397.4 million, crushing the $331M analyst projection
- Comparable store sales increased 5.5%, topping expectations of 4.9%, with food category strength led by pizza offerings
- The company announced a 14% increase to its quarterly dividend, bringing it to 65 cents per share, while projecting 8%–10% EBITDA expansion for fiscal 2027
Casey’s General Stores (CASY) experienced a dramatic 15% rally to $877 during Wednesday’s trading session, positioning the convenience retailer as a top performer in the S&P 500 following exceptional fiscal fourth quarter results released Tuesday after market close.
Casey’s General Stores, Inc., CASY
Quarterly earnings per share landed at $4.37, representing a robust 66% increase compared to the prior year period and substantially exceeding Wall Street’s $3.31 projection. Total revenue expanded 14% to reach $4.57 billion, comfortably beating the consensus estimate of $4.33 billion.
The shares have now appreciated 59% during 2026 and are approaching the all-time closing peak of $888.36 established on May 13.
The most impressive metric belonged to the fuel division. Gross profit from fuel operations surged 29% to $397.4 million — considerably above the $331 million analyst forecast. Per-gallon fuel margin expanded to 46.9 cents compared to Wall Street’s expectation of 39.41 cents.
Gasoline prices have experienced significant appreciation throughout the current year. The national average for regular unleaded gasoline currently stands at $4.16 per gallon, representing approximately 46% growth from the $2.84 level recorded at year’s beginning. Following the outbreak of U.S.-Iran hostilities in late February, pump prices have climbed 39%.
Strong Performance Across Fuel and Food Segments
Chief Executive Darren Rebelez praised the fuel operations team for successfully optimizing the relationship between sales volume and profit margins. Across the complete fiscal year, fuel gross profit expanded 21%.
Comparable store sales growth — when fuel is excluded from calculations — advanced 5.5% during the fourth quarter, exceeding the 4.9% consensus forecast. Management specifically highlighted pizza as a significant growth driver.
Across the entirety of fiscal 2026, Casey’s expanded annual revenue by 10.7% while earnings per share grew 30.9% to reach $19.16.
KeyBanc analyst Bradley Thomas observed that the quarterly performance “point to continued momentum with the business.”
Fiscal 2027 Outlook and Projections
Looking toward the upcoming fiscal year, Casey’s provided guidance calling for comparable store sales growth (excluding fuel) of 2% to 5%, with inside margin rates projected above 42%. Fuel gallon volume is anticipated to remain flat or decline by as much as 1%.
EBITDA growth is projected in the 8% to 10% range. Current Wall Street consensus models anticipate 9% revenue expansion for the fiscal 2027 period.
The company additionally announced a 14% increase to its quarterly dividend payment, raising it to 65 cents per share. The dividend will be distributed on August 14 to shareholders of record as of August 1.
RBC Capital Markets adjusted its price target upward to $794 from $792 while maintaining a Sector Perform rating, acknowledging that Casey’s delivered superior performance across virtually all operating metrics.
Casey’s earned inclusion in the S&P 500 during April 2026 and currently operates a network exceeding 2,900 locations, establishing its position as the nation’s third-largest convenience store operator.
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