Breaking: Casey's Announces Third Quarter ResultsCasey's General Stores, Inc., together with its subsidiaries, operates convenience stores under the Casey's and Casey’s General Store names announces Third Quarter Results leading to shares rising 2.35% in premarket trading on Wednesday early morning session.
Earning's Highlight:
Diluted EPS of $2.33, flat with the same period a year ago. Net income was $87.1 million, also flat with the prior year, and EBITDA1 was $242.4 million, up 11.4%, from the same period a year ago.
Inside same-store sales increased 3.7% compared to prior year, and 8.0% on a two-year stack basis, with an inside margin of 40.9%. Total inside gross profit increased 14.3% to $573.1 million compared to the prior year.
Same-store fuel gallons were up 1.8% compared to prior year with a fuel margin of 36.4 cents per gallon. Total fuel gross profit increased 17.4% to $302.1 million compared to the prior year.
Same-store operating expenses excluding credit card fees were up 3.2%, favorably impacted by a 2% reduction in same-store labor hours.
Technical Outlook
As of the time of writing, Casey shares ( NASDAQ:CASY ) are up 2.35% in Wednesday's premarket trading with eyes set on the 38.2% Fibonnaci retracement point, should NASDAQ:CASY break above that pivot a move to the 1-month high resistance point is certain. Similarly, in the case of a trend reversal, the 1-month low is holding the levels as support point but with the RSI at 31, a little dip below the 1-month low point would place the shares in an oversold region leading to further sell-out.
