CASEYS GENERAL STORES INC has recently released its 10-K report. Casey’s General Stores, Inc. operates convenience stores under the Casey’s and Casey’s General Store names across the United States, with a mix of prepared foods, beverages, tobacco products, grocery items, fuel, and selected services such as ATMs, lottery, prepaid cards, and car washes. The company also operates distribution centers and was founded in 1959; its headquarters are in Ankeny, Iowa.
As of April 30, 2026, Casey’s and its wholly owned subsidiaries operated 2,944 stores in 19 states, with about half of them in Iowa, Missouri, and Illinois. Roughly 71% of the stores were in communities with populations under 20,000, and all but six locations sold fuel. The company also managed a wholesale fuel network that accounted for about 3% of total revenue for fiscal 2026.
During the fiscal year, the store count rose from 2,904 to 2,944 through 40 new store openings, 40 acquisitions, one reopened prior acquisition, and 41 closures. The acquisition of Fikes Wholesale and Group Petroleum Services added 198 CEFCO stores and a wholesale fuel network in the prior fiscal year, and the company said that acquisition contributed a full six months of results in fiscal 2026.
Total revenue for fiscal 2026 increased by $1.62 billion, or 10.2%, to $17.56 billion. The biggest driver was retail fuel revenue, which rose $839.4 million, or 8.6%, to $10.62 billion, while gallons sold increased 318.3 million, or 10.0%, to 3.50 billion gallons; the average retail price per gallon fell 1.3%. Grocery and general merchandise revenue increased $419.7 million, or 10.1%, to $4.56 billion, and prepared food and dispensed beverage revenue rose $165.1 million, or 10.2%, to $1.78 billion.
Revenue less cost of goods sold, excluding depreciation and amortization, increased to $4.32 billion from $3.75 billion. That margin measure improved to 24.6% of revenue from 23.5%, with fuel revenue less related cost of goods sold rising to 14.1% of revenue from 12.7%, prepared food and dispensed beverage at 58.6% from 58.2%, and grocery and general merchandise at 35.8% from 35.0%.
Operating expenses increased $285.1 million, or 11.2%, to $2.84 billion. Depreciation and amortization rose $46.3 million to $450.0 million, and net interest expense increased $12.7 million to $96.6 million, reflecting incremental debt of $1.1 billion used partly to fund the Fikes acquisition. The effective tax rate moved up to 23.8% from 23.3%.
Net income climbed $167.9 million, or 30.7%, to $714.4 million. Diluted earnings per share reached $19.16, up 30.9% from the prior year, and EBITDA increased 23.6% to $1.48 billion.
Store-level performance also improved. Average retail sales per store rose to $5.879 million from $5.556 million, average inside sales increased to $2.199 million from $2.095 million, and average operating income per store advanced to $566,000 from $496,000. Same-store prepared food and dispensed beverage sales grew 5.2%, grocery and general merchandise same-store sales rose 3.9%, and same-store fuel gallons sold increased 1.4%.
Casey’s generated 28.0 million RINs in fiscal 2026, producing $35.4 million of revenue, compared with 23.8 million RINs and $16.7 million in fiscal 2025. The company also said it had 282 EV charging stations at 64 stores across 14 states as of April 30, 2026. As a result of these announcements, the company's shares have moved -1.13% on the market, and are now trading at a price of $832.725. If you want to know more, read the company's complete 10-K report here.
