Casey's General Stores revenue missed expectations, and despite earnings surpassing expectations, the stock still declined

LootboxPhobia · 2026-03-09T21:02:18+00:00

Casey’s General Stores reports third-quarter earnings exceeding expectations, but revenue fell short, with the stock down 2.5% after hours. Adjusted earnings per share were $3.49, with revenue of $3.92 billion. Net profit increased by 49.3%, and the fuel business remained solid. The company raised its FY2026 EBITDA and same-store sales forecasts.

LootboxPhobia

2026-03-09 21:02:18

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Investing.com – Casey’s General Stores Inc. (NASDAQ: CASY) reported third-quarter earnings that exceeded analyst expectations, but revenue fell short, causing the stock to drop 2.5% in after-hours trading on Monday.

The convenience store chain posted adjusted earnings per share of $3.49 for the quarter ending January 31, 2026, surpassing the consensus estimate of $2.90 by $0.59. However, revenue was $3.92 billion, below the expected $4.08 billion. Revenue increased 5.7% compared to the same period last year.

Net profit rose 49.3% to $130.1 million, while EBITDA increased 27.5% year-over-year to $308.9 million. Same-store sales grew 4.0%, and total in-store gross profit increased 8.9% to $624 million. In-store profit margins expanded from 40.9% last year to 42.2%, benefiting from cost management and a favorable product mix.

Chairman, President, and CEO Darren Rebelez stated, “Casey’s has achieved another successful quarter, driven by strong sales and margin expansion. Our high-quality in-store products and compelling value proposition continue to attract customers to our stores.”

Fuel operations performed steadily, with same-store gallon sales increasing 0.4%, and fuel profit margin at 41.0 cents per gallon, up from 36.4 cents last year. Total gross profit from fuel rose 15.3% to $348.2 million. The company’s Casey’s Rewards loyalty program surpassed 10 million members this quarter.

Operating expenses increased 4.1% to $697.6 million, and excluding credit card fees, same-store operating expenses grew 4.6%.

For fiscal year 2026, Casey’s has raised its EBITDA growth forecast to 18%–20%. It now expects same-store sales to grow between 3.5% and 4.5%, with in-store profit margins around 41.5%–42.5%. The company also increased its operating expense growth forecast to approximately 10%.

As of January 31, 2026, Casey’s operates 2,924 stores.

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