Casey's Results Surpass Estimates

(RTTNews) - Casey's General Stores Inc (CASY) on Tuesday reported second-quarter net earnings of $61.8 million or $1.57 per share compared with $50.1 million or $1.28 per share last year.

Revenues for the quarter were lower at $2.05 billion compared with $2.3 billion in the prior year.

Analysts polled by Thomson Reuters estimated earnings of $1.39 per share on revenues of $2 billion for the quarter. Analysts' estimates typically exclude special items.

Margin improved to 20.1% from 16.2% a year ago.

"The company is off to an excellent start to the fiscal year with strong sales, margin expansion in prepared foods, and a favorable operating expense environment during the period," said CEO Robert Myers.

The company noted that at its September meeting, the board of directors declared a quarterly dividend of $0.22 per share.

CASY closed Tuesday at $108.49, up $2.94 or 2.79%, on the Nasdaq. In after hours, the stock gained $1.10 or 1.01%.