Casey’s beats Street with Q4 profit, sales; will open 75-113 stores

Ankeny, Iowa – Casey’s General Store beat Wall Street expectations for profit and revenue during the fourth quarter of fiscal 2015. Net income roughly doubled to $41.34 million from $20.94 million, fueled by a drop in cost of goods sold.



Total revenue fell 14% to $1.65 billion from $1.92 billion, but still exceed analyst estimates.



During fiscal 2016, Casey’s plans to build or acquire 75 to 113 stores, replace 10 existing locations and complete 100 major remodels.



For the full fiscal year, net income rose 42% to $180.63 million, from $126.82 million. Total revenue fell slightly to $7.77 billion from $7.84 billion.



“Fiscal 2015 was a tremendous year for Casey’s,” said chairman and CEO Robert J. Myers. “Sales were strong throughout all of our categories, and the company is poised to grow the business in fiscal 2016 with a variety of initiatives to improve the existing store base, while at the same time building and acquiring more stores.”