Casey’s General Stores, Inc. (NASDAQ: CASY) reported second‑quarter 2026 results that exceeded analyst expectations, delivering net income of $206.3 million and diluted earnings per share of $5.53. Total revenue reached $4.506 billion, up roughly 14% year‑over‑year, driven by a 3.3% increase in same‑store sales and a 0.8% rise in fuel gallons sold.
Inside sales grew 13% to $1.658 billion, with prepared‑food and dispensed‑beverage sales up 4.8% and grocery and general‑merchandise sales up 2.7%. Inside gross profit reached $703 million, giving an inside margin of 42.4%, a 20‑basis‑point improvement over the same period a year ago. Fuel gross profit rose 20.9% to $377 million, supported by a 41.6‑cent per‑gallon margin that reflects effective pricing and procurement strategies.
The company added 236 new stores during the quarter, expanding its footprint to 2,921 locations. Same‑store sales growth and fuel volume gains were bolstered by strong demand for Casey’s made‑from‑scratch pizza and other prepared‑food items, while disciplined cost control helped offset margin pressure from the recent Fikes acquisition. CEO Darren Rebelez highlighted that the combination of robust traffic, a favorable product mix, and efficient fuel operations underpinned the quarter’s performance.
Management updated its Fiscal 2026 outlook, raising EBITDA guidance to a 15%–17% increase and projecting inside same‑store sales growth of 3%–4%. The guidance reflects confidence in continued demand for prepared foods and fuel, as well as the scalability of the company’s store‑expansion strategy. Compared with the prior year’s Q2, where EPS was $4.85 and revenue was $3.95 billion, the current results demonstrate accelerated growth and margin expansion.
Investors reacted cautiously to the earnings release. While the EPS beat of $0.61 per share exceeded consensus by 12.4%, the revenue miss of $40 million—about 1% below estimates—tipped sentiment toward a more measured outlook. Analysts noted that the company’s ability to grow margins amid rising input costs and competitive fuel pricing will be a key focus in the coming quarters.
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