Casey's General Stores Fiscal Q2 Results Reinforce "Strong" Positioning and Execution, RBC Says

MT Newswires Live12-11

Casey's General Stores' (CASY) "better-than-expected" fiscal Q2 earnings per share and earnings before interest, taxes, depreciation, and amortization reinforce its "strong" market positioning and operational execution, RBC said in a note Tuesday.

Casey's fiscal Q2 results "reinforce our investment thesis around CASY's unique positioning in lower-cost geographies and small markets," RBC said in the note.

Casey's reported fiscal Q2 earnings late Monday of $4.85 per share on revenue of $3.95 billion, beating analyst estimates for EPS of $4.25 and revenue of $4.03 billion.

The convenience store company "is earning its valuation premium that reflects attractive inside-store mix, unit growth cadence, geographic concentration, strong opex control, and upside from Fikes acquisition that closed November 1," RBC said.

The firm raised its EPS forecast for fiscal 2025 to $15.10 from $14.65 and for fiscal 2026 to $17.71 from $16.93.

RBC lifted its price target to $428 from $403 while reiterating a sector perform rating on the stock.

Casey's shares were up over 2% in recent trading.

Price: 426.90, Change: +8.79, Percent Change: +2.10

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