$CASY reports Q3 FY2023 financial results and strong same-store sales growth
Mar 7th 2023, 10:04 pm
Analyst Summary: Casey's General Stores, a leading convenience store chain in the United States, reported financial results for Q3 fiscal year 2023. The company reported an increase in same-store sales of 5% compared to the prior year, driven by strong performance in the grocery and general merchandise category, including non-alcoholic and alcoholic beverages, snacks, and candy. Prepared food and dispensed beverage also performed well due to strong sales of pizza slices and donuts. Casey's reported total inside gross profit increased by 11.8% and fuel gross profit increased by 10.6%. The company also reported a net income, diluted EPS, and Adjusted EBITDA growth compared to the same period a year ago. Casey's will host an Investor Day on June 27, 2023, in New York City. Casey's President and CEO, Darren Rebelez, said, "Finally, I am very proud of the team's ability to continue to effectively manage operating expenses in a challenging inflationary period." The company expects to exceed its commitment of 345 units by adding approximately 80 stores in fiscal year 2023. The company did not update its outlook on other metrics. Casey's cautioned that forward-looking statements involve risks and uncertainties that could cause actual results to differ materially from those projected in the statement.