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Casey’s General Store Earnings: CASY Stock Dips on Mixed Q3 Results

Casey’s General Store (NASDAQ:CASY) earnings for the retailer’s fiscal third quarter of 2020 have CASY stock dipping lower after markets closed Monday. This is after reporting diluted earnings per share (EPS) of 91 cents on revenue of $2.25 billion. Those are mixed results next to Wall Street’s estimates of 89 cents per share and revenue of $2.29 billion.

Casey's General Store Earnings: CASY Stock Dips on Mixed Q3 Results

Source: Ken Wolter / Shutterstock.com

Now, let’s take a more thorough look at the most recent Casey’s General Store earnings report.

  • Diluted per-share earnings are down 19.47% from $1.13 during the same time last year.
  • Revenue for the quarter comes in 9.76% higher than the $2.05 billion in the fiscal third quarter of 2019.
  • The Casey’s General Store earnings report also includes a net income of $33.96 million.
  • That’s an 18.83% drop compared to the company’s net income of $41.84 million from the same period of the year prior.

Darren Rebelez, president and CEO of Casey’s General Store, said this about the CASY stock earnings report:

“We are optimistic about the January launch of the Casey’s Rewards program. With strong initial membership growth, we look forward to further developing the connection with our guests through this platform. We are excited to begin executing on the strategic plan we unveiled in January, which we believe will continue to generate shareholder value.”

The Casey’s General Store earnings report also contains an updated outlook for fiscal 2020. This includes same-store sales depreciation and amortization of 3% to 5%. The previous guidance had this between 6% and 8%. It also only expects 20 store acquisitions, instead of the prior 25.

CASY stock was down slightly as of Monday afternoon.

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/2020/03/caseys-general-store-earnings-drop-casy-stock/.

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