Casey’s General Stores (NASDAQ:CASY) earnings for the retail company’s fiscal fourth quarter of 2020 have CASY stock dipping lower after-hours Monday. That’s due to its diluted earnings per share of $1.67 missing Wall Street’s estimate of $1.79. However, its revenue of $1.81 billion is better than analysts’ estimates of $1.76 million.
Here’s a more thorough breakdown of the most recent Casey’s General Stores earnings report.
- Diluted per-share earnings are 145.6% higher compared to 68 cents during the same period of the year prior.
- Revenue for the quarter comes in 17% lower than the $2.18 billion reported in fiscal Q4 2019.
- The Casey’s General Stores earnings report also has net income coming in at $62.09 million.
- That’s a 146.3% increase from the company’s net income of $25.21 million reported for the same time last year.
Darren Rebelez, president and CEO of Casey’s General Stores, said this about its grocery sales in fiscal Q4.
“We had significant momentum for the first half of the quarter inside the store, but slowing customer traffic related to COVID-19 contributed to overall volume declines. Stronger sales of lower margin products relative to other categories led to a reduction in the average margin for the quarter.”
Casey’s General Stores isn’t providing guidance for fiscal 2021 at this time. The company attributes this to the unstable market caused by the novel coronavirus. Many other companies have done the same.
CASY stock was down 2.7% after markets closed on Monday.
As of this writing, William White did not hold a position in any of the aforementioned securities.