Casey's General Q2 Profit Down, Shares Slip

(RTTNews) - Shares of Casey's General Stores, Inc. (CASY) slipped over 5% in extended session on Tuesday after reporting its second-quarter results, with earnings missing street estimates.

Second-quarter net income dropped to $96.83 million or $2.59 per share from $111.98 million or $3.00 per share last year.

Revenues for the quarter rose to $3.26 billion from $2.22 billion last year.

Analysts polled by Thomson Reuters estimated an earnings of $2.89 per share on revenues of $3.20 billion. Analysts' estimates typically exclude one-time items.

Inside same-store sales increased 6.0% compared to prior year with a margin of 40.7%. Total inside gross profit increased 12.3% to $463.4 million compared to the same period last year.

Commenting on the results, CEO Darren Rebelez said, "Inside sales and fuel gallons sold were up in the second quarter as guest traffic continues to improve."

CASY closed Tuesday's trading at $201.22, down $0.67 or 0.33%, on the Nasdaq. The stock further slipped $10.11 or 5.02% in the after-hours trading.