Casey's General Stores Stock Flat After Q1 Earnings Report

Casey’s General Stores, Inc. (NASDAQ:CASY) released its first-quarter results after Monday's closing bell. Here's a look at the key figures from the quarter.

• CASY stock rose on Monday. See the chart here.

The Details: Casey’s General Stores reported quarterly earnings of $5.77, which beat the Street estimate of $5.07.

Quarterly revenue came in at $4.56 billion, which beat the consensus estimate of $4.47 billion.

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Casey’s General Stores reported the following first quarter highlights:

• Inside same-store sales increased 4.3% compared to prior year, and 6.7% on a two-year stack basis, with an inside margin of 41.9%. Total inside gross profit increased 14.8% to $705.5 million compared to the prior year.
• Same-store fuel gallons were up 1.7% compared to prior year with a fuel margin of 41.0 cents per gallon. Total fuel gross profit increased 18.8% to $373.6 million compared to the prior year.
• Same-store operating expenses excluding credit card fees were up 3%, favorably impacted by a 1% reduction in same-store labor hours.

“Casey’s delivered an excellent first quarter highlighted by strong sales growth both inside and outside the store,” said CEO Darren Rebelez.

“Our inside same-store sales were driven by positive traffic growth due to our summer merchandising plan as well as our team’s outstanding execution, demonstrating our ability to serve our guests efficiently at a high level. Our fuel team did a tremendous job achieving same-store gallon growth while maintaining a healthy fuel margin,” Rebelez added.

CASY Stock Price: According to data from Benzinga Pro, Casey's General Stores stock was down 0.86% at $517 in Monday's extended trading. 

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