Q3 2026 Caseys General Stores Inc Earnings Call Transcript
Key Points
- Casey's General Stores Inc (CASY) reported a 50% increase in diluted earnings per share, reaching $3.49, and a 49% increase in net income to $130 million.
- The company generated $309 million in EBITDA, marking a 27.5% increase from the previous year.
- Same store sales were up 4% for the third quarter, with prepared food and dispensed beverages leading the way, showing a 4.3% increase.
- Fuel margin exceeded $0.40 per gallon, with same store gallons sold increasing for the fifth consecutive quarter.
- Casey's rewards program reached over 10 million members, indicating strong customer engagement and loyalty.
- Total revenue for the quarter increased by only 0.3% from the prior year, primarily due to lower retail fuel prices.
- Retail fuel sales were down $57 million in the quarter due to a 4.6% decline in the average retail price.
- Same store operating expenses, excluding credit card fees, increased by 4.6%, driven by higher labor rates and snow removal costs.
- The effective tax rate increased to 24.1% from 19.2% in the prior year, impacting net income.
- Free cash flow decreased to $76 million from $91 million in the prior year, partly due to higher purchases of property, plant, and equipment.
Good day and thank you for standing by. Welcome to the Q3 FY 2026 Caseys General Stores earnings conference call. (Operator Instructions) Please be advised today's conference is being recorded. I would now like to turn the conference over to your speaker today, Brian Johnson, Senior Vice President, Investor relations and business development. Please go ahead.
Good morning and thank you for joining us to discuss the results from our third quarter ended January 31, 2026. I am Brian Johnson, Senior Vice President, Investment Relations and Business Development. With me today are Darren Rebelez, Chairman, President, and Chief Executive Officer, and Steve Bramlage, Chief Financial Officer.
Before we begin, I'll remind you that certain statements made by us during this investor call may constitute forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995.
These forward-looking statements include
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