Casey’s General Stores Tops Profit Forecast

But the chain's revenue fell short of Wall Street estimates

   

Casey’s General Stores Tops Profit Forecast

Higher grocery margins boosted quarterly profits above forecasts at Casey’s General Stores (NASDAQ:CASY), sending its shares higher.

The company announced on Tuesday that it earned $39 million during its fiscal first quarter, down from $39.4 million in the same period last year.

grocery checkout 630 200x200 Caseys General Stores Tops Profit Forecast
Walmart Cardholders Get Gas Discounts Again

Revenue also dipped slightly to $1.87 billion, falling short of the $1.93 billion that Wall Street expected, Reuters noted.

EPS for the first quarter was $1.01. That topped the 95 cents a share that analysts had forecast.

Shares of Casey’s General Stores rose almost 5% in mid-day trading on Tuesday.

Company officials noted that margins for merchandise and groceries increased to 33.4%, up form 32.5% a year ago.

Margins for prepared food and fountain products were even better, rising to 63.5%, up from 61.2% last year.


Article printed from InvestorPlace Media, http://investorplace.com/2012/09/caseys-general-stores-tops-profit-forecast/.

©2014 InvestorPlace Media, LLC

Comments are currently unavailable. Please check back soon.