ANKENY, Iowa — Casey’s General Stores closed out its fiscal year with record-setting growth, solid earnings, and an aggressive outlook for continued expansion, reinforcing its position as a major player in the convenience retail space.
The chain reported fourth-quarter net income of $98.3 million, or $2.63 per share, far surpassing Wall Street’s estimate of $1.94. Revenue climbed 11% to $3.99 billion, with inside same-store sales up 1.7%, driven by strong performance in bakery, hot foods, and beverages. Full-year net income reached $546.5 million, with EBITDA at $1.2 billion.
The company’s growth strategy reached new heights in fiscal 2025, adding 270 stores, the largest expansion in its history. That includes the acquisition of Fikes Wholesale and its 198 CEFCO-branded locations. As of April 30, Casey’s operated 2,904 stores.
"Fiscal 2025 is a testament to our two-pronged approach of both building and acquiring stores, which ensures predictable rateable growth while still capitalizing on great opportunities like Fikes when they come along," Darren Rebelez, Casey's president and CEO, said during the company's earnings call.
Looking ahead, Casey’s plans to open at least 80 more stores in fiscal 2026 through a mix of new builds and acquisitions, bringing its three-year strategic plan total to around 500 stores. The company expects inside same-store sales to grow 2%–5% and projects 10%–12% EBITDA growth.
“Casey's delivered another record fiscal year as our team continued to execute on our three-year strategic plan, reaching $546.5 million of net income and $1.2 billion in EBITDA” the CEO said. “Inside same-store sales outperformed the industry, up 2.6%, or 7.1% on a two-year stack basis, led by strong performance in hot sandwiches and bakery as well as alcoholic and non-alcoholic beverages. The operations team performed exceptionally well during the year, driving strong performance, integrating the most new units in Casey's history, while reducing same-store labor hours for the twelfth consecutive quarter.”
Casey’s also announced a 14% increase to its quarterly dividend, now $0.57 per share, marking 26 consecutive years of dividend hikes.