Casey’s reports lower fourth-quarter earnings

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Casey’s General Stores Inc. today reported fiscal fourth-quarter earnings per share of 51 cents, compared with 76 cents for the year-ago quarter. For the full fiscal year, per-share earnings were $8.34 — including the one-time impact of $4.53 per share related to the adoption of the Tax Cuts and Jobs Act — compared with $4.48 per share for the same period last year. “A suppressed fuel margin and challenging weather had an adverse impact on fourth-quarter results. However, we believe we are taking market share in most categories,” said Terry Handley, president and CEO. The company opened 53 new stores in the fourth quarter, and among other actions in its “value creation plan” has hired a chief marketing officer, completed an initial $300 million share repurchase authorization and increased its quarterly dividend 12 percent.

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