Casey's General Stores Delivers Strong Q3 Results, Executing on Strategic Plan
Casey's General Stores, a leading convenience store and fuel retailer, recently released its third-quarter 2025 earnings results, showcasing the company's continued success in executing its strategic plan. In a conference call with investors, Darren Rebelez, Chairman, President, and CEO, highlighted the excellent quarter, attributing it to the dedication of the Casey's team.
Key highlights from the quarter include diluted EPS finishing at $2.33 per share, net income at $87 million, both flat with the prior year, while EBITDA was up 11% to $242 million. Inside sales were up over 15%, and fuel gallons sold rose by more than 20%. The company's store count growth was 10% higher compared to the previous year, a positive sign of the economic impact of its new and acquired stores.
Inside-store prepared food innovation played a significant role in driving strong performance. In the fuel category, Casey's outperformed the geographic market, growing same-store gallons with fuel margins exceeding $0.36 per gallon. The business continues to execute on its 3-year strategic plan, focusing on growing the food business while accelerating unit growth and operating stores more efficiently.
Specifically, inside same-store sales were up 3.7% for the quarter, or 8% on a 2-year stack basis, with an average margin of 40.9%. Same-store prepared food and dispensed beverage led the way, seeing sales rise by 4.7%, or 12.6% on a 2-year stack basis, with an average margin of 57.8%. The company also noted continued strong performance from [indiscernible] at over 50% growth and bakery at nearly 10% growth.
However, same-store grocery and general merchandise sales were up only 3.3%, 6.2% on a 2-year stack basis, with an average margin of 34.2%. Nonalcoholic beverages performed well in the quarter, particularly energy drinks, which saw a significant increase of approximately 18%. Margin increased around 40 basis points from the prior year due to a favorable product mix shift.
Casey's also highlighted its Feeding America campaign in partnership with Celsius, aiming to combat hunger and food insecurity in rural areas through April 1. This initiative demonstrates the company's commitment to giving back to the communities it serves.
