Casey’s General Stores, Inc. Delivers Record Fiscal Year 2026 Results: S&P 500 Inclusion, Dividend Increase, and Strong Outlook for FY2027
Key Financial Highlights
- Record Earnings: Diluted EPS for Q4 FY2026 was \$4.37, a 66.2% increase from Q4 FY2025. Full-year diluted EPS reached \$19.16, up 30.9% year-over-year.
- Net Income and EBITDA: Q4 net income was \$162.7 million (+65.5%), with EBITDA of \$350.3 million (+33.2%). For the year, net income was \$714.4 million (+30.7%), and EBITDA was nearly \$1.5 billion (+23.6%).
- Inside Sales: Inside same-store sales grew 5.5% in Q4 and 4.2% for the year; inside margins improved to 42.4% in Q4 and 42.2% for the year. Total inside gross profit increased 10.5% for Q4 and 12.0% for the year.
- Fuel Performance: Same-store fuel gallons sold increased 1.5% in Q4 and 1.4% for the year. Fuel margins surged to 46.9 cents per gallon in Q4, with total fuel gross profit up 29.1% in Q4 and 21% for the year.
- Dividend Growth: Casey’s increased its quarterly dividend by 14% to \$0.65 per share, marking the 27th consecutive annual increase. The dividend is payable August 14, 2026, to shareholders of record on August 1, 2026.
- S&P 500 Index Inclusion: Casey’s was added to the S&P 500 Index, reflecting its consistent financial performance and growth.
- Share Repurchase Program: The Board authorized an expansion of the share repurchase program up to \$1 billion, with \$1 billion remaining available. During Q4, Casey’s repurchased approximately \$63 million of shares.
- Store Expansion: Casey’s opened a net 40 new stores in FY2026, ending the year with 2,944 stores.
- Liquidity: Casey’s had \$1.4 billion in available liquidity at year-end, including \$523 million in cash and \$900 million in credit capacity.
Operational Performance
Casey’s continued to execute its strategic plan, highlighted by robust performance in prepared foods, whole pizzas, appetizers, and sides. Non-alcoholic beverages also contributed strongly to inside sales growth. Inside margin improvements were driven by cost management, reduced waste, and favorable mix shifts. The fuel team achieved a balance between volume and margin, resulting in significant growth in fuel gross profit. Operations teams delivered substantial EBITDA growth while keeping same-store labor hours slightly favorable.
FY2027 Outlook
- Inside Same-Store Sales: Expected to increase 2% to 5% with inside margins above 42%.
- Fuel Same-Store Gallons Sold: Expected to be between -1% and +1%.
- Operating Expenses: Expected to rise 5% to 7%.
- EBITDA: Projected to increase 8% to 10%, implying 35% growth on a two-year stack basis at the midpoint.
- Store Growth: At least 120 new stores planned through a mix of M&A and new construction.
- Net Interest Expense: Estimated at \$95 million.
- Depreciation and Amortization: Expected at \$490 million.
- Capital Expenditures: Approximately \$800 million.
- Tax Rate: Estimated at 24% to 26%.
Segment Details
- Prepared Food & Dispensed Beverage: Q4 same-store sales up 6.6%, margin at 59.5%. FY2026 margin at 58.6%.
- Grocery & General Merchandise: Q4 same-store sales up 5.1%, margin at 35.7%. FY2026 margin at 35.8%.
- Fuel: Q4 same-store gallons up 1.5%, margin at 46.9 cents per gallon. FY2026 margin at 42.6 cents per gallon.
- Other: Gross profit margin for the category was 23.4% in Q4.
Cash Flow and Balance Sheet
- Cash from Operations: \$1.38 billion for FY2026.
- Investing Activities: Capital expenditures of \$656 million and \$142 million in business acquisitions.
- Financing Activities: Repurchased \$201 million in common stock and paid \$83 million in dividends. Net decrease in long-term debt.
- Assets: Total assets of \$8.94 billion at year-end, with goodwill of \$1.27 billion and property/equipment of \$5.75 billion.
- Liabilities: Total liabilities of \$4.98 billion, including long-term debt of \$2.33 billion.
- Shareholders’ Equity: \$3.95 billion.
Shareholder and Price-Sensitive Information
- Dividend Increase: A 14% hike in the quarterly dividend is likely to positively impact shareholder sentiment and potentially support share price appreciation.
- Share Repurchase Program Expansion: The increase to \$1 billion in the buyback authorization provides flexibility for capital return and may support the share price.
- S&P 500 Inclusion: This milestone could attract institutional investors and index funds, potentially increasing demand for Casey’s shares.
- Strong Financial Performance: Significant growth in EPS, net income, EBITDA, and margins across all segments is likely to be viewed positively by investors.
- Robust Outlook: Guidance for continued growth in sales, margins, and store expansion signals confidence from management and may support higher valuations.
- Liquidity and Balance Sheet Strength: Ample liquidity and prudent capital management reinforce Casey’s financial stability.
Conference Call and Investor Relations
Casey’s will host an earnings conference call on June 10, 2026 at 7:30 a.m. CDT, accessible via its investor relations website. A replay will be available for one year. Contact Brian Johnson (Investor Relations) at (515) 446-6587 or Katie Petru (Media Relations) at (515) 446-6772 for further information.
Forward-Looking Statements and Risks
This article contains forward-looking statements based on Casey’s current expectations. Actual results may differ due to risks related to execution of strategic plans, integration and performance of acquisitions, fuel and ingredient costs, supply chain disruptions, geopolitical events, and other factors as disclosed in Casey’s SEC filings.
Disclaimer
The information presented here is for informational purposes only and does not constitute investment advice, a recommendation, or an offer to buy or sell any securities. Investors should review Casey’s official filings and consult with their financial advisors before making investment decisions. All data is based on management’s report as of June 9, 2026, and is subject to change.
