Casey’s General Stores Stock Rises on Q1 Earnings Beat

Casey’s General Stores (NASDAQ:CASY) reported its latest quarterly earnings results late in the day on Monday, which sent the company’s stock surging after hours as it posted a profit beat.

Casey's General StoresThe company said that its bottom line

 for its first quarter of fiscal 2019 tallied up to $70.22 million, or $1.90 per share, which is stronger than the $56.76 million, or $1.46 per share from the year-ago quarter. Analysts were calling for the company to bring in adjusted earnings of $1.66 per share, according to data compiled by Thomson Reuters.

Casey’s General Stores added that it had strong revenue for its first quarter as it brought in sales of $2.59 billion, marking a 23.9% increase compared to the $2.09 billion it amassed during the year-ago quarter.

The convenience store chain added that for the period, its same-store gallons sales were up by 0.5% compared to the year-ago quarter to go along with an average margin of 20.5 cents per gallon. Casey’s General Stores said that its same-store sales for its grocery and other merchandise were up by 3.2% when compared to the year-ago quarter with an average margin of 32.4%.

The company also announced a quarterly dividend of 29 cents per share.

CASY stock surged 1.7% after the bell on Monday as the company reported strong quarterly earnings results. Shares had been rising about 1.6% during regular trading hours in anticipation of the company’s results.


Article printed from InvestorPlace Media, https://investorplace.com/2018/09/caseys-general-stores-casy/.

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