Casey`s General Stores Inc
Q3 2026 Earnings
Market Reaction
S&P 500 over the same 30 days: +0.34%.
Did CASY Beat Earnings? Q3 2026 Results
Casey's General Stores delivered a standout fiscal Q3 2026, with diluted EPS of $3.49 clearing the $2.97 consensus estimate by 17.38% as margin expansion and inside-store momentum more than compensated for a modest top-line shortfall. Revenue of $3.92 billion, essentially flat with the prior year at +0.3%, missed the $4.04 billion consensus by 3.14%, but the real story was profitability, with net income surging 49.3% to $130.07 million and EBITDA climbing 27.5% to $308.91 million. The primary driver was a powerful combination of inside-store execution and fuel margin improvement, as same-store inside sales grew 4.0%, inside margin expanded roughly 130 basis points to 42.2%, and fuel gross profit rose 15.3% on a 41.0-cent-per-gallon margin. Following the results, multiple analysts raised their price targets, reflecting confidence in the trajectory. Casey's raised its fiscal 2026 EBITDA growth outlook to 18% to 20%, and the board continued rewarding shareholders, though <a href="https://247wallst.com/investing/2026/02/12/casy-dividend-scorecard/">the dividend tells a broader story</a> about the company's capital allocation priorities.
- Inside same-store sales increased 4.0% driven by whole pizzas, hot sandwiches, and non-alcoholic beverages
- Inside margin expanded approximately 130 basis points to 42.2% through cost of goods management and favorable product mix shift
- Fuel margin expanded to 41.0 cents per gallon from 36.4 cents in the prior year
- Total fuel gross profit increased 15.3% to $348.2 million
- Total inside gross profit increased 8.9% to $624.0 million
- RINs sales of $6.3 million, an increase of $3.7 million year-over-year
- Operating expense comparison benefitted from $13 million in one-time Fikes deal and integration costs in the prior year
“Casey's achieved another successful quarter as strong sales and margin expansion drove performance. Our high quality inside offering, along with a compelling value proposition, continues to attract guests to our stores. On the fuel side, the team had another sound quarter, expanding fuel margin while reporting positive same-store gallon growth. All of this was anchored by our store level operations team, who continue to meet our guests' needs in an efficient manner.”
Casey's General Stores CEO, on the earnings call
Forward Guidance & Outlook
Fiscal 2026 EBITDA is now expected to increase 18% to 20%. Inside same-store sales are expected to increase 3.5% to 4.5% with an inside margin of approximately 41.5% to 42.5%. Total operating expenses are now expected to increase approximately 10%. Tax rate is expected to be 23.5% to 24.5%. Net interest expense is expected to be approximately $100 million. Same-store fuel gallons sold expected to be negative 1% to positive 1%. The company expects to open at least 80 stores in fiscal 2026 through a mix of M&A and new store construction, bringing the three-year strategic plan period total to approximately 500 stores. Depreciation and amortization is expected to be approximately $450 million. Purchase of property and equipment is expected to be approximately $600 million.
CASY YoY Financials
CASY Revenue by Segment
Figures from SEC filings and company reports. Not investment advice.