A month has gone by since the last earnings report for Casey’s General Stores (CASY). Shares have added about 6.3% in that time frame, outperforming the S&P 500.
Will the recent positive trend continue leading up to its next earnings release, or is Casey’s due for a pullback? Before we dive into how investors and analysts have reacted as of late, let’s take a quick look at its most recent earnings report in order to get a better handle on the important drivers.
Casey’s Q1 Earnings Top Estimates, Revenues Fall Y/Y
Casey’s General Stores, Inc. reported mixed first-quarter fiscal 2021 results. While the top line fell short of the Zacks Consensus Estimate, the bottom line beat the same. Total revenues continued to decline year over year but earnings per share increased. Notably, improved sales volume coupled with strong fuel margin and better expense management contributed to bottom-line growth.