Prepared Foods Fuel Strong Q2 at Casey's

Iowa-based convenience chain Casey’s General Store has shared its Q2 results for the period ended Oct. 21, 2022, which saw same-store sales increase nearly 8% compared to the same period last year.

On a two-year basis, same-store sales increased 14.4% in the quarter. Total inside sales were up 11.4% for the quarter, driven by strong performance in prepared food items including Casey’s’ famous pizza slices and whole pies, as well as non-alcoholic and alcoholic beverages, snacks and candy from the grocery and general merchandise category.

Net income in the quarter was $137.5 million, compared to $96.8 million in the same quarter last year. For the six month-period ending Oct. 31, net income was $290.4 million compared to $215.9 million last year. 

Same-store fuel gallons were up 0.3% compared to prior year with a fuel margin of 40.5 cents per gallon. Total fuel gross profit increased 22.7% to $284.4 million compared to the prior year.

“Thanks to our entire team, Casey's delivered another excellent quarter by growing inside sales while driving efficiency throughout the business,” said Darren Rebelez, president and CEO of Casey’s. “Inside same-store sales were driven by prepared food and dispensed beverages, most notably pizza and fountain sales. Grocery and general merchandise achieved impressive results in both alcoholic and non-alcoholic beverages. The fuel gross profit dollars remained strong as our fuel team executed at a high level again and struck the right balance between sales volume and gross profit margin. The resiliency of our business model along with the ability to effectively execute on our long-term strategic plan continues to drive shareholder value.”

As of Oct. 31, 2022, Casey’s operates 2,463 stores across the Midwest.