Casey’s General Stores reports Q3 EPS $2.67 with items, consensus $1.99

Reports Q3 revenue $3.33B, consensus $3.34B. Diluted EPS benefited by 31c due to one-time operating expense reduction of approximately $15M from the resolution of a legal matter. Inside same-store sales increased 5.6% compared to prior year. "Thanks to the hard work of our entire team, Casey’s delivered another stellar quarter by driving inside gross profit while managing operating expenses efficiently," said Darren Rebelez, President and CEO. "Inside same-store sales were spurred by grocery and general merchandise, notably non-alcoholic and alcoholic beverages, snacks, and candy. Prepared food and dispensed beverage performed well due to strong pizza slice and donut sales. The fuel team continues to strike the right balance between gallon volume and gross profit margin. Finally, I am very proud of the team’s ability to continue to effectively manage operating expenses in a challenging inflationary period."