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Casey's General Stores, Inc. (NASDAQ:CASY) reported better-than-expected quarterly financial results after the closing bell on Tuesday.
Sales of $3.60 billion exceeded the street view of $3.48 billion. EPS of $2.34 beat the consensus of $1.72, according to data from Benzinga Pro.
Inside same-store sales rose 5.6% and 12.4% over a two-year period, with an inside margin of 41.2%.
The Board of Directors increased the quarterly dividend by 16% to $0.50 per share. The dividend will be payable on August 15 to shareholders of record on August 1.
For FY25, the company expects EBITDA to increase by at least 8%. The company anticipates a 3% to 5% increase in inside same-store sales, with an inside margin similar to that of fiscal 2024.
"Casey's started its three-year strategic plan with a record fiscal year, exceeding $1 billion in EBITDA for the first time in the company's history," Darren Rebelez, President and CEO, said. "Inside same-store sales were outstanding, up 4.4%, or 11.2% on a two-year stack basis, led by strong performance in pizza and bakery as well as alcoholic and non-alcoholic beverages."
Casey's shares gained 16.7% to close at $381.13 on Wednesday.
These analysts made changes to their price targets on Casey's after the company reported quarterly results.
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Posted In: CASY