Casey's General Stores (CASY) Tops Q2 EPS by 7c, Revenues Miss

Casey's General Stores (NASDAQ: CASY) reported Q2 EPS of $2.21, $0.07 better than the analyst estimate of $2.14. Revenue for the quarter came in at $2.49 billion versus the consensus estimate of $2.53 billion.

"Excluding impacts of tax reform, this represents the sixth consecutive quarter of at least 20% growth in diluted earnings per share, compared to prior year quarters," said Darren Rebelez, President and Chief Executive Officer. Second quarter results were primarily driven by continued strong growth in fuel gross profit dollars, new store openings, and an ongoing focus on operating efficiencies. "We are optimistic about the new initiatives that will launch in the back half of fiscal 2020 and beyond, and believe they will continue to create additional shareholder value," stated Rebelez.

"Operating expense control remains a priority. This quarter was positively impacted by lower insurance costs and continued focus on hours management," noted Rebelez. "As we complete additional initiatives focused on operating expenses, we'll have incremental data to optimize operations."

For earnings history and earnings-related data on Casey's General Stores (CASY) click here.

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