Casey’s announces higher third-quarter earnings
Business Record Staff Mar 9, 2023 | 2:32 am
1 min read time252 wordsAll Latest News, Retail & Business
Casey’s General Stores Inc., headquartered in Ankeny, announced its third-quarter financial results this week. Highlights from the quarter that ended Jan. 31 include:
• Diluted earnings per share were $2.67, up 56% from the same period a year ago.
• Total inside gross profit was $450.6 million, an 11.6% increase from a year ago.
• The amount of fuel sold totaled 644.9 million gallons, compared with 621.7 million gallons sold during the same period in 2022. The increase in total gallons sold during the period was primarily due to an increase in the number of Casey’s stores.
• Total fuel profit was $262.6 million, up 10.4% from a year ago.
“Casey’s delivered another stellar quarter by driving inside gross profit while managing operating expenses efficiently,” Darren Rebelez, Casey’s president and CEO, said in a prepared statement. “Inside same-store sales were spurred by grocery and general merchandise, notably non-alcoholic and alcoholic beverages, snacks, and candy. Prepared food and dispensed beverages performed well due to strong pizza slice and donut sales. The fuel team continues to strike the right balance between gallon volume and gross profit margin.”
In its release, Casey’s said it expects same-store inside sales to grow by 6% to 7% in the fiscal year that ends April 30. In early December, the company said it expected inside sales to grow between 5% and 7%. At its February meeting, Casey’s board of directors voted to pay a quarterly dividend of 38 cents per share.
To read the entire release, click here.