Caseys Enjoys 'Good Quarter,' Analyst Praises Steady Fuel Volumes

Stephens analyst Pooran Sharma reiterated the Overweight rating on Caseys General Stores, Inc. (NASDAQ:CASY), with a price forecast of $490.

On June 9, the company reported fourth-quarter financial results for fiscal 2025 with revenue of $3.99 billion, versus estimates of $3.93 billion.

Sharma pointed out that operating expenses came in above expectations, driven by increased per-store operating costs (excluding credit card fees) and higher-than-anticipated credit card charges.

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The company also issued FY26 guidance, projecting EBITDA growth of 11% at the midpoint, slightly below the Street’s estimate of 14%. Caseys expects total operating expense growth to be around 9% at the midpoint. Compare that to the consensus forecasts of approximately 10%.

Sharma called the financial period a “good quarter,” observing that same-store fuel volumes slightly exceeded expectations, rising 0.1% year over year compared to the flat forecast.

Retail fuel margins increased by 37.6 cents per gallon, versus the expected 35.5 cents.

For FY26, management guided to inside same-store sales growth of 2.0% to 5.0%, inside margins near 41%, same-store fuel volumes between -1% and +1%, and operating expenses rising 8% to 10%. Full-year EBITDA is projected to grow 10% to 12% year-over-year.

Price Action: CASY shares are trading higher by 12.6% to $495.19 at last check Tuesday.

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