Casey’s General Stores Earnings: CASY Stock Falls 6% On Revenue Miss

Casey’s General Stores (NASDAQ:CASY) earnings for the retail chain’s fiscal second quarter of 2020 have CASY stock taking a beating on Monday. This is despite its diluted EPS of $2.21 beating Wall Street’s estimate of $2.15. The problem is a revenue of $2.49 billion, which is below analysts’ estimates of $2.53 billion.

Casey's General Stores Earnings: CASY Stock Falls 6% On Revenue Miss

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Here’s what else is worth mentioning from the current Casey’s General Stores earnings report.

  • Diluted per-share earnings are up 22.78% from the $1.80 reported in fiscal Q2 2019.
  • Revenue for the quarter is down 1.97% from $2.54 billion during the same time last year.
  • The Casey’s General Stores earnings report also includes a net income of $81.98 million.
  • That’s a 23.06% increase over its net income of $66.62 million from the same period of the year prior.

Darren Rebelez, President and Chief Executive Officer of Casey’s General Stores, says this about the CASY stock earnings.

“Excluding impacts of tax reform, this represents the sixth consecutive quarter of at least 20% growth in diluted earnings per share, compared to prior year quarters. We are optimistic about the new initiatives that will launch in the back half of fiscal 2020 and beyond, and believe they will continue to create additional shareholder value.”

Another issue in the Casey’s General Stores earnings report is its fiscal 2020 outlook. The company has lowered its fuel same-store sales guidance to between -1% and .5%. It also drops its prepared food and fountain same-store sales outlook to a range of 1.5% to 4.0%.

CASY stock was down 5.89% in after-hours trading.

As of this writing, William White did not hold a position in any of the aforementioned securities.


Article printed from InvestorPlace Media, https://investorplace.com/2019/12/caseys-general-stores-earnings-hit-casy-stock/.

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