Convenience-store chain Casey’s General Stores Inc. delivered a record fiscal year, reaching $546.5 million in net income and $1.2 billion in EBITDA, President and CEO Darren Rebelez said Monday in a release announcing the company's results.
“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,” Rebelez said for the fiscal year ending on April 30. “Our fuel team grew market share and produced a healthy margin, as fuel gross profit increased 10.7% from the prior year. 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 built or acquired 270 stores in the fiscal year—the most in the company’s history. This included the acquisition of Fikes Wholesale’s 198 CEFCO convenience stores in November. In January, Casey’s also acquired seven convenience stores, one travel center and four liquor stores in central Kentucky from Wow! Foodmart LLC.
The 270 stores also include 35 new builds, and the retailer has plans for more in the current year, with seven new builds already planned for Texas.
“I'm incredibly proud of our team's ability to produce record financial results while also integrating the new units. Fiscal 2025 is a testament to our two-pronged approach of both building and acquiring stores which ensures predictable ratable growth while still capitalizing on great opportunities like Fikes when they come along,” Rebelez said in the Tuesday earnings call, according to an AlphaSense transcript.
Other highlights for fiscal year 2025 included Casey’s Rewards growing to more than 9 million members by year end. Net income was up 8.9% from the prior year, and EBITDA was up 13.3% from the prior year.
Fourth-quarter 2025 highlights include:
- Net income was $98.3 million, up 13% form the year prior.
- EBITDA was $263 million, up 20.1% from the same period a year ago.
- Inside same-store sales were up 1.7% compared to the prior year. Total inside gross profit increased 12.5% to $582.4 million compared to the prior year.
- Fuel same-store gallons were up 0.1% compared to the prior year with a fuel margin of 37.6 cents per gallon.
For fiscal year 2026, Casey’s expects EBITDA to increase 10%-12%, and inside same-store sales to increase 2%-5%. It expects same-store fuel gallons sold to be negative 1% to positive 1%.
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