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Casey's General Stores 1Q Profit Falls 3%


Ankeny, Iowa Casey's General Stores Inc. reported its fiscal first-quarter earnings fell 3%, hurt by charges related to flood damages.

For the three months ended July 31, the company reported net income of $28.8 million compared with $29.8 million in the year-ago period.

Revenue rose 22% to $1.57 billion, from $1.28 billion in the same period last year.

Excluding a one-time charge of $2.6 million related to flood damage, the company earned $31.3 million.

Grocery and other merchandise same-store sales rose 4.7%, while prepared food and fountain drinks same-store sales rose 12.3%.

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