Casey’s Q3 EPS Jumps 49.8% to $3.49, Raises FY26 EBITDA Outlook to 18-20%
Casey’s General Stores reported Q3 EPS of $3.49, a 49.8% increase over $2.33, beating the $3.01 consensus while revenues rose 0.3% to $3.916 billion. Inside sales jumped 5.7% to $1.48 billion with same-store sales up 4%, and the company raised its FY26 EBITDA growth target to 18-20%.
1. Third-Quarter Results
Casey’s reported Q3 EPS of $3.49, up 49.8% year over year and above the $3.01 consensus, on revenues of $3.916 billion, a 0.3% increase that fell short of the $4.023 billion estimate. The company added 31 stores since last year, operating 2,924 units as of January 31, 2026.
2. Segment Sales Performance
Inside sales rose 5.7% to $1.48 billion, with same-store inside sales up 4% driven by strong pizza and hot sandwich demand. Fuel sales declined 2.4% to $2.31 billion even as gallons sold grew 2.3% to 848.4 million, aided by improved fuel margins of $0.41 per gallon.
3. Margin Expansion and Expense Trends
Gross profit climbed 10.3% to $1.01 billion, lifting the overall margin by 230 basis points to 25.7%, while inside margin expanded 130 basis points to 42.2%. EBITDA jumped 27.5% to $308.9 million with a 170‐basis‐point margin expansion, partially offset by a 4.1% rise in operating expenses.
4. Balance Sheet, Capital Actions and Outlook
The quarter ended with $465 million in cash, $2.33 billion in debt and $3.85 billion in shareholders’ equity, alongside $76 million of share repurchases and a $0.57 quarterly dividend. Management now targets FY26 EBITDA growth of 18–20%, 3.5–4.5% inside same-store sales growth and plans $600 million in capital expenditures.