Overview

• U.S. convenience store chain's Q4 revenue beat analyst expectations, driven by strong inside sales

• Diluted EPS for Q4 rose 66% yr/yr to $4.37 on higher gross profit

• Company expanded share buyback authorization to $1 bln and raised dividend by 14%

Outlook

• Casey’s expects fiscal 2027 inside same-store sales to rise 2% to 5% with margin above 42%

• Company expects same-store fuel gallons sold to be between negative 1% and positive 1%

• Casey’s expects EBITDA to increase 8% to 10% in fiscal 2027

Result Drivers

• INSIDE SALES GROWTH - Inside same-store sales rose 5.5%, driven by strong performance in prepared foods, non-alcoholic beverages, and improved sales mix

• MARGIN IMPROVEMENT - Inside margin increased by 120 basis points, helped by cost of goods management, reduced waste, and favorable mix shift

• FUEL PROFIT INCREASE - Fuel gross profit rose 29.1% due to higher gallons sold, improved fuel margin, and increased renewable fuel credits

Company press release: ID:nBwbH6cya

Key Details

Metric	Beat/Miss	Actual	Consensus Estimate
Q4 Revenue	Beat	$4.57 bln	$4.3 bln (16 Analysts)
Q4 EPS		$4.37
Q4 Net Income		$162.68 mln
Q4 Inside same-store sales Growth		5.5%

Analyst Coverage

• The current average analyst rating on the shares is "buy" and the breakdown of recommendations is 12 "strong buy" or "buy", 8 "hold" and no "sell" or "strong sell"

• The average consensus recommendation for the food retail & distribution peer group is "buy"

• Wall Street's median 12-month price target for Caseys General Stores Inc is $829.00, about 10.3% above its June 8 closing price of $751.63

• The stock recently traded at 37 times the next 12-month earnings vs. a P/E of 36 three months ago

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