Abhoy Sarkar's Avatar
published in Blogs
Dec 07, 2022
Casey's(CASY, $229.96) beats Q2 earnings expectations, despite revenue miss

Casey's(CASY, $229.96) beats Q2 earnings expectations, despite revenue miss

Casey's General Stores posted adjusted earnings of $3.67 per share for the quarter ended October, which exceeded the Zacks Consensus Estimate of $3.27 per share (according to Zacks Equity Research). Earnings were $2.59 per share a year ago.

Revenues of $3.98 billion for the quarter missed the Zacks Consensus Estimate by 4.14%. This compares to year-ago revenues of $3.26 billion. Inside Same-store sales climbed +7.9% year-over-year and 14.4% on a two-year stack basis.

The company updated its fiscal 2023 outlook, with current expectation of same-store inside sales to be approximately 5% to 7%. Total operating expense rise outlook is near the low end of the annual range which was approximately 9% to 10%. The tax rate is now expected to be between 24% and 25% for the year.

Related Tickers: CASY