Casey's Q1 Profit Tops Estimates

(RTTNews) - Casey's General Stores, Inc. (CASY) reported net income for the first quarter of $52.3 million or $1.34 per share, compared to $55.7 million or $1.43 per share for the same quarter a year ago.

Total revenue for the first quarter rose to $2.29 billion from $2.11 billion a year earlier.

Analysts polled by Thomson Reuters expected the company to earn $1.24 per share on revenue of $2.29 billion for the first quarter.

"Strong sales helped offset a $7.2 million reduction in renewable fuel credit values, which impacted diluted earnings per share by almost 12 cents," said Casey's Chairman and CEO Robert Myers. "We are off to a great start on our annual goals, and we were able to grow inside gross profit dollars by 12.9% compared to the first quarter of last year."