Casey`s General Stores Inc
Q2 2026 Earnings
Market Reaction
S&P 500 over the same 30 days: +0.90%.
Did CASY Beat Earnings? Q2 2026 Results
Casey's General Stores posted a convincing fiscal second quarter, with diluted EPS of $5.53 beating the $5.20 consensus estimate by 6.26% and total revenue of $4.51 billion edging past expectations while climbing 14.2% year over year, as the convenience store operator demonstrated that its expanding footprint and strengthening inside business are translating directly to the bottom line. Net income rose to $206.34 million and EBITDA reached $410.10 million, up 17.5%, with the inside business serving as the quarter's clearest catalyst; same-store inside sales grew 3.3%, prepared food and dispensed beverage comps accelerated to 4.8%, and inside gross profit climbed 13.5% to $703.42 million as whole pizzas and hot sandwiches drew increased guest traffic. Fuel added to the momentum, with same-store gallons turning positive at 0.8% growth and fuel margin expanding to 41.6 cents per gallon. Encouraged by the results, management lifted its fiscal 2026 EBITDA growth outlook to 15% to 17%, with plans to rebrand the recently acquired CEFCO stores expected to provide further prepared food margin upside as conversions get underway in early 2026.
- Inside same-store sales increased 3.3% driven by prepared food and dispensed beverage category including whole pizzas and hot sandwiches
- Same-store fuel gallons up 0.8% with fuel margin expanding to 41.6 cents per gallon
- Operating nearly 9% more stores than the prior year (236 additional stores)
- Inside margin expanded approximately 20 basis points to 42.4% from favorable product mix shift
- Total fuel gross profit increased 20.9% to $377.4 million
- Total inside gross profit increased 13.5% to $703.4 million
- Renewable fuel credits (RINs) sales of $7.2 million, up $2.3 million year-over-year
“Casey's delivered a great second quarter highlighted by strong sales and traffic growth across the entire store. Our inside same-store sales continued the strong momentum, as our prepared foods offering and value proposition are resonating with guests, while our team is delivering on the strategic plan. On the fuel side, the team did an outstanding job achieving same-store gallon growth while expanding fuel margin. Overall, the excellent financial results were a combination of strong same-store performance and robust store growth as we are operating nearly 9% more stores than the prior year.”
Casey's General Stores CEO, on the earnings call
Forward Guidance & Outlook
Casey's updated its fiscal 2026 outlook due to strong year-to-date performance. EBITDA is now expected to increase 15% to 17%. Inside same-store sales are expected to increase 3% to 4% with an inside margin of 41% to 42%. The tax rate is now expected to be 24% to 25%. Unchanged metrics include: same-store fuel gallons sold of negative 1% to positive 1%, total operating expenses growth of 8% to 10%, at least 80 new store openings (bringing the three-year strategic plan total to approximately 500 stores), net interest expense of approximately $110 million, depreciation and amortization of approximately $450 million, and purchase of property and equipment of approximately $600 million.
CASY YoY Financials
CASY Revenue by Segment
Figures from SEC filings and company reports. Not investment advice.