Casey's General Stores Fiscal Q2 'Solid' Amid 'Choppy Macro Backdrop,' UBS Says

MT Newswires Live12-11

Casey's General Stores (CASY) demonstrated "solid" fiscal Q2 results amid a "choppy macro backdrop," with its quarterly 3% inside same-store sales translating into a 70 basis points improvement on a two-year stack, UBS said in a note emailed Wednesday.

Noting the company's better-than-expected fiscal Q2, the brokerage said that Casey's gross margin increased about 60 basis points to 24.9% versus UBS estimate of 24.2% and consensus of 24.4%.

The company's inside margin increased 20 basis points to 42.4% due to a favorable product mix, while its cents per gallon, excluding credit card fees, increased 3.5% year over year to $0.416, UBS said.

With Casey's updating its guidance for fiscal 2026, UBS said that the new outlook implies about 12.3% earnings before interest, taxes, depreciation, and amortization growth at the midpoint in H2, along with inside same-store sales of 3.2%, compared with UBS' pre-results estimate of 11.9% and 3.8%, respectively.

The firm maintained its neutral rating and $600 price target on Casey's.

Price: 539.00, Change: -24.24, Percent Change: -4.30

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