Casey’s General Stores Earnings: Here’s Why Shares are Down Now
Casey’s General Stores Inc. (NASDAQ:CASY) delivered a profit and missed Wall Street’s expectations, AND came up short on beating the revenue expectation. The revenue miss is a negative sign to shareholders seeking high growth out of the company. Shares are down 3.14%.
Casey’s General Stores Inc. Earnings Cheat Sheet
Results: Adjusted Earnings Per Share were the same at $0.60 in the quarter as EPS of $0.60 in the year-earlier quarter.
Revenue: Rose 3.2% to $1.81 billion from the year-earlier quarter.
Actual vs. Wall St. Expectations: Casey’s General Stores Inc. reported adjusted EPS income of $0.60 per share. By that measure, the company missed the mean analyst estimate of $0.62. It missed the average revenue estimate of $1.83 billion.
Quoting Management: “A difficult cigarette environment and challenging weather comparisons adversely impacted sales during fiscal 2013,” said Chairman and CEO Robert J. Myers. “However, in the fourth quarter we saw strong sales gains with the recent implementation of a “fuel saver” program in partnership with Hy-Vee grocery stores and competitive cigarette pricing adjustments made earlier in the fiscal year. We expect this momentum will continue into fiscal 2014.”
Key Stats (on next page)…