Caseys 2026 Q2 Earnings Net Income Surges 14% as Revenue Hits $4.51 Billion

Casey’s (CASY) reported fiscal 2026 Q2 earnings on Dec 9, 2025, surpassing expectations with a 14.2% revenue increase and 14.0% net income growth. The company raised its fiscal 2026 guidance, reflecting confidence in its operational performance and market position.

Revenue

Casey’s total revenue surged 14.2% year-over-year to $4.51 billion in Q2 2026, driven by robust performance across all segments. Fuel sales led the growth with $2.69 billion, while prepared food and dispensed beverages contributed $467.80 million. Grocery and general merchandise revenue reached $1.19 billion, and the “other” category added $160.36 million, underscoring the company’s diversified revenue streams.

Earnings/Net Income

Earnings per share (EPS) climbed 14.2% to $5.56 in Q2 2026, with net income rising to $206.34 million from $180.92 million. The company’s profitability has remained resilient for over 20 years, reflecting strong operational execution and cost management.

Post-Earnings Price Action Review

A strategy of purchasing Casey’s shares after a revenue growth quarter and holding for 30 days yielded a 119.40% return over three years, outperforming the 67.70% benchmark. This approach generated a 51.71% excess return, with a Sharpe ratio of 1.17 and a 0.00% maximum drawdown, highlighting its risk-adjusted effectiveness.

CEO Commentary

Darren Rebelez, CEO, emphasized Casey’s strong Q2 performance, driven by 3.3% inside same-store sales growth and 0.8% fuel gallon expansion. Strategic priorities include leveraging store growth (9% more locations year-over-year) and executing its long-term plan, with optimism about operational resilience.

Guidance

Casey’s updated fiscal 2026 guidance includes EBITDA growth of 15-17%, 3-4% same-store sales growth, and a 41-42% inside margin. Store openings are projected to reach at least 80, with capital expenditures of ~$600M and ~$450M in depreciation.

Additional News

1. M&A Activity: Brookfield and Qatar’s Qai formed a $20 billion joint venture focused on AI infrastructure, signaling significant investment in emerging tech.

2. C-Level Insights: Ollie’s Bargain Outlet highlighted growth from expanding customer bases, deal flow, and widening margins, leveraging retail sector consolidation. Campbell’s CEO stressed innovation in snacks and crackers to reignite growth.

3. Strategic Expansion: Casey’s plans to open 80+ stores in 2026, aligning with its three-year target of 500 total openings, while maintaining focus on fuel margin expansion and operational efficiency.