Casey's Shares Drop Nearly 10% in After-Hours Trading Following Q1 Earnings

Casey's General Stores Inc shares moved lower in Tuesday's after-hours trading after the company reported its first-quarter earnings.

Casey's General Stores stock pulled back from recent levels. What's behind the CASY decline?

Casey's Q1 Highlights

Q1 revenue: $5.68 billion, versus expectations of $5.57 billion

Q1 EPS: $7.37, versus expectations of $6.72

Q1 inside same-store sales rose 3.2% year-over-year, below the 4.3% increase in the same period last year. Fuel same-store gallons sold declined 0.3% year-over-year.

Casey's Chairman, President and CEO Darren Rebelez said: "Customers are responding well to the compelling value proposition of our high-quality prepared food. On the fuel side, our team's strong capabilities helped us navigate a volatile market environment and deliver solid results."

Casey's repurchased approximately $45.6 million of its common stock during the quarter. As of period-end, the company had approximately $1.4 billion in available liquidity, including approximately $524 million in cash and cash equivalents and approximately $857 million in available borrowing capacity under its existing credit facility.

Casey's expects fiscal 2027 inside same-store sales to grow 2% to 5%. The company expects same-store fuel gallons sold to be roughly flat, plus or minus 1%. Casey's said it plans to open at least 120 stores in fiscal 2027 through a combination of acquisitions and new store construction.

CASY Shares Fall in After-Hours Trading

CASY stock movement: Casey's shares fell 9.69% in after-hours trading, trading at $662.40 as of Tuesday's writing.