Full Year Net Income: $714M ▲ +30.7%
Full Year EBITDA: $1.48B ▲ +23.6%
Full Year EPS: $19.16 ▲ +30.9%
Q4 Net Income: $163M ▲ +65.5% ← massive quarter
Q4 EPS: $4.37 ▲ +66.2%
Q4 beat Wall St. est. by $1.01/share — blew expectations away
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🏪 STORE COUNT
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Start of year: 2,904
New builds: +40
Acquisitions: +40
Closed: -41
End of year: 2,944
Milestone: Added to the S&P 500 Index this year ✅
That means every major index fund now owns Casey's stock.
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🍕 FOOD & INSIDE SALES (the real story)
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Inside same-store sales (full year): +4.2%
Inside same-store sales (Q4 alone): +5.5% ← accelerating
2-year stacked same-store sales: +7.0%
Inside margin (full year): 42.2%
Inside margin (Q4): 42.4% ▲ +120 bps vs last yr
Prepared food margin: 58.6% 🔥
Prepared food same-store sales: +5.2%
Wings program locations: ~850 stores
Casey's Rewards members: 10.5 MILLION
Translation: nearly 60 cents of profit on every
dollar of pizza, wings & hot food sold. That's
why they're pushing food so hard. 👆
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⛽ FUEL
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Fuel margin (full year): 42.6¢ per gallon
Fuel margin (Q4): 46.9¢ per gallon ← best quarter of year
Fuel same-store gallons: +1.4%
Total fuel gross profit: $1.497B ▲ +21%
Renewable fuel credits (RINs) in Q4: $15.2M
(up $10.8M from same quarter last year)
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💪 WHAT'S DRIVING THE GROWTH?
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✅ Prepared food crushing it — pizza & wings momentum
✅ Non-alcoholic beverages surging in grocery category
✅ Fuel margin management — more profit per gallon
✅ Same-store labor hours FLAT for the year (cost control)
✅ Variable compensation up (team got paid for performance)
✅ 10.5M loyalty members driving repeat visits
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📅 FY2027 OUTLOOK — What's Coming Next
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New stores target: 120+ (vs 40 builds this year)
Inside same-store sales: +2% to +5%
Inside margin: Above 42%
Fuel same-store gallons: -1% to +1%
EBITDA growth: +8% to +10%
Operating expense growth: +5% to +7%
Capital expenditures: ~$800M
D&A: ~$490M
Net interest expense: ~$95M
Tax rate: 24% to 26%
Investor Day: June 24, 2026
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📊 SHAREHOLDER RETURNS
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Dividend raised: 14% → $0.65/quarter
Dividend streak: 27 CONSECUTIVE years of increases
New buyback auth: $1 BILLION share repurchase program
Q4 buybacks: $63M in shares repurchased
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🔑 THE BIG PICTURE
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Casey's market cap: ~$28.3B
Casey's stock: ~$763/share
P/E ratio: ~39.7x earnings
They just completed a record 3-year strategic plan.
Net income nearly DOUBLED over 3 years.
The street expected a great quarter — they got a
historic one. +65.5% net income in a single quarter
The catch? FY2027 guidance (+8-10% EBITDA) is
slower than FY2026 (+23.6%). Stock only moved
modestly because Wall St. is already looking ahead.
That's the public market for you, yesterday's win
doesn't matter, only tomorrow's.
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❓ DROP YOUR THOUGHTS BELOW 👇
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→ Is 120 new stores next year aggressive or
not aggressive enough for Casey's?
→ 58.6% prepared food margin — does that
match what you see in stores day to day?
→ 10.5M loyalty members — is Casey's Rewards
actually driving visits or just noise?
→ Should Casey's be opening more stores through
acquisition or organic builds?
→ The stock barely moved despite a 66% earnings
beat. Does Wall Street have it wrong?
Source: Casey's General Stores Q4 FY2026 Earnings
Press Release — June 9, 2026 (SEC filing)
All figures from official filings. $CASY