Casey's General Stores Posts $130.1M Q3 Profit, Up 49% on Higher Revenue

Casey's General Stores, Inc. (NASDAQ: CASY), a convenience store chain operating 2,924 locations across 19 Midwestern states, reported net income of $130.1 million for the three months ending January 31, 2026, a 49% increase from $87.1 million in the same quarter last year. Read more earnings reports.

Revenue for the third quarter of fiscal 2026 reached $3.92 billion, up slightly from $3.90 billion in the prior-year quarter. For the nine months ending January 31, 2026, total revenue climbed to $13.0 billion from $11.9 billion in the comparable period of fiscal 2025, an increase of 8.7%.

Operating expenses rose to $697.6 million in the quarter from $670.2 million a year earlier. Labor and related expenses jumped to $298.1 million from $258.1 million in the prior-year quarter, a 15% increase.

For the nine-month period, Casey's posted net income of $551.8 million, compared to $448.2 million in the first nine months of fiscal 2025. Operating expenses for the nine-month period totaled $2.11 billion, up from $1.89 billion a year earlier.

Interest expense declined to $23.4 million in the third quarter from $29.4 million in the prior-year quarter. For the nine-month period, interest expense increased to $74.9 million from $56.0 million.

Diluted earnings per share for the quarter came in at $3.49, up from $2.33 in the same period last year. For the nine months, diluted EPS reached $14.79 compared to $12.01 in the prior-year period.

Balance Sheet Position

Total assets stood at $8.59 billion as of January 31, 2026, up from $8.21 billion at the end of fiscal 2025 on April 30, 2025. Cash and cash equivalents increased to $465.0 million from $326.7 million over the same period.

Long-term debt decreased to $2.33 billion from $2.41 billion at fiscal year-end. Total stockholders' equity rose to $3.85 billion from $3.51 billion. The company had 36.99 million common shares outstanding as of January 31, 2026.

Inventory declined to $440.8 million from $480.0 million at the end of fiscal 2025. Property, plant, and equipment increased to $5.61 billion from $5.41 billion.

Cash Flow

Cash from operations for the nine months ending January 31, 2026 totaled $979.0 million, compared to $757.0 million in the prior-year period. Cash used in investing activities was $512.9 million, down sharply from $1.52 billion a year earlier. Cash used in financing activities totaled $327.7 million, compared to cash provided by financing of $953.9 million in the prior-year period.

Key Financial Metrics