Casey’s General Stores, Inc. Posts Lower Q4 Earnings; Misses Estimates (CASY)

After the closing bell on Monday, Casey’s General Stores (CASY) reported its third quarter earnings, posting slightly lower EPS than last year’s Q3 figure, due in part to extreme winter weather.

CASY’s Earnings in Brief

CASY reported third quarter revenues of $1.79 billion, up from last year’s Q3 figure of $1.66 billion. Net income for the quarter came in at $14.67 million, or 38 cents per share, which is lower than last year’s Q4 figure of $15.46 million, or 40 cents per share. Casey’s missed analysts’ estimates of 49 cents EPS on revenues of $1.84 billion.

CEO Commentary

CASY”s chairman and CEO, Robert J. Myers, had the following comments: "Third quarter sales were strong throughout all of our categories despite challenging weather during the quarter. Our same-store fuel sales are exceeding industry-wide trends and gross profit from inside the store was up over 11% for both the quarter and year."

CASY’s Dividend

Casey’s declared a dividend raise in June last year, pushing its quarterly payout to 18 cents from 17 cents. The company’s next dividend is payable on May 15 to all shareholders on record as of May 1.

Stock Performance

Casey’s stock ended the day up $1.52, or 2.29%, but it was heading lower in after hours earnings, due to the company’s large earnings miss. YTD, the company’s stock is down 3.7%.