Casey's General Stores, Inc. (CASY) on Tuesday reported an increase in fourth-quarter profit, driven by strong sales and higher fuel margins. The convenience store operator also increased its quarterly dividend and outlined growth targets for fiscal 2027.
For the fourth quarter, net income surged 65.5% to $162.7 million from $98.3 million, while earnings per share jumped 66.2% to $4.37 from $2.63 a year earlier.
Revenue rose 14.5% to $4.57 billion from $3.99 billion in the prior-year quarter. Gross margin improved to 23.6% from 23.2%.
The board also expanded the company's share repurchase authorization to $1 billion and approved a 14% increase in the quarterly dividend to $0.65 per share, marking the 27th consecutive annual dividend increase.
Looking ahead, Casey's expects fiscal 2027 inside same-store sales growth of 2% to 5%, fuel same-store gallons ranging from down 1% to up 1%, and EBITDA growth of 8% to 10%. The company also plans to open at least 120 stores through acquisitions and new construction during the year.
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