Casey's Profit Tops Estimates As Margins Improve, But Sales Misses

(RTTNews) - Casey's General Stores Inc (CASY) on Monday reported third-quarter net earnings of $39.3 million or $1.01 per share compared with $12.7 million or $0.33 per share last year.

Revenues for the quarter were higher at $1.67 billion compared with $1.8 billion in the prior year.

Analysts polled by Thomson Reuters estimated earnings of $0.82 per share on revenues of $1.71 billion for the quarter. Analysts' estimates typically exclude special items.

Total margin for the quarter improved to 21% from 15.5% last year.

"The steady decline in wholesale gasoline costs was favorable to fuel margins, and the low price of gasoline drove sales in all of our business categories," the company said.

The company said its board, at the March meeting, declared a quarterly dividend of $0.20 per share.