US-based convenience retailer Casey’s General Stores has reported first-half (H1) revenue of $8.43bn for fiscal 2023 (FY23), up from $6.44bn in the same period of fiscal 2022 (FY22).
The retailer’s inside same-store sales for the six months to 31 October were 7.0%, while its total inside gross profit was around $1.01bn.
Go deeper with GlobalData
Casey’s recorded a net income of $290.4m for H1 2023 and diluted earnings per share (EPS) of $7.75, up from $5.78 in H1 2022.
The company’s adjusted earnings before interest, tax, depreciation and amortisation (EBITDA) were $569.5m for the six-month period.
In the second quarter (Q2) of FY23, Casey’s inside same-store sales increased by 7.9% compared with a year earlier, while its inside margin was 39.8%.
The retailer’s total inside gross profit was $504.5m, up by 8.9% from $463.4m in Q2 2022.
How well do you really know your competitors?
Access the most comprehensive Company Profiles on the market, powered by GlobalData. Save hours of research. Gain competitive edge.
Thank you!
Your download email will arrive shortly
Not ready to buy yet? Download a free sample
We are confident about the unique quality of our Company Profiles. However, we want you to make the most beneficial decision for your business, so we offer a free sample that you can download by submitting the below form
By GlobalDataCasey’s posted a net income of $137.5m for the quarter and its diluted EPS grew by 42% to $3.67, compared with $2.59 in the same period of FY22.
Casey’s president and CEO Darren Rebelez said: “Thanks to our entire team, Casey’s delivered another excellent quarter by growing inside sales while driving efficiency throughout the business.
“Inside same-store sales were driven by prepared food and dispensed beverages, most notably pizza and fountain sales.
“Grocery and general merchandise achieved impressive results in both alcoholic and non-alcoholic beverages.
“The resiliency of our business model, along with the ability to effectively execute on our long-term strategic plan, continues to drive shareholder value.”
For the full year, Casey’s expects its same-store inside sales to be around 5% to 7%.
The retailer also plans to open roughly 80 stores during the year and expects to surpass its previously announced three-year commitment of 345 units.
Casey’s previously reported $4.45bn in revenue for the first quarter of FY23, up from $3.18bn in the same period of FY22.
