Casey's General Stores, Inc. announced its financial results for the first quarter ended July 31, 2026. The company reported diluted earnings per share (EPS) of $7.37, representing a 27.7% increase from the $5.77 per share reported in the same period a year ago. Net income for the quarter totaled $273.7 million, up 27.1% from $215.4 million in the prior year.
Inside same-store sales increased by 3.2% compared to the prior year, with an inside margin of 42.2%. Total inside gross profit rose 6.3% to $749.8 million. On the fuel side, same-store gallons sold decreased by 0.3%, but total fuel gross profit increased 19.6% to $446.9 million, driven by higher fuel margins of 47.8 cents per gallon.
Operating expenses increased by 8.0% during the quarter, primarily due to the addition of 64 stores, higher credit card fees, and increased labor rates. At the end of the quarter, the company had approximately $1.4 billion in available liquidity, consisting of $524 million in cash and $857 million in borrowing capacity.
Casey's repurchased approximately $45.6 million of its common stock during the quarter and has approximately $973 million remaining under its existing share repurchase authorization. Additionally, the Board of Directors approved a quarterly dividend of $0.65 per share, payable November 13, 2026.
The company reaffirmed its fiscal 2027 outlook, expecting inside same-store sales to increase 2% to 5% with an inside margin above 42%. It also expects to open at least 120 stores in fiscal 2027 through a mix of mergers and acquisitions and new store construction. EBITDA is expected to increase 8% to 10%, and net interest expense is projected to be approximately $95 million.
