Casey's Tops Q4 Views, Shares Rise

Shares of

jumped over 4 percent in after-hours trading after the company reported stronger-than-expected results for the fiscal fourth quarter. The Ankeny, Iowa-based company reported quarterly earnings of $41 million, or $1.05 per share, up from $21 million, or $0.54 per share, in the year-earlier quarter. Its sales slipped to $1.65 billion from $1.9 billion. However, analysts were expecting a profit of $0.85 per share on sales of $1.62 billion. The average estimate among 5 Estimize users was for earnings of $0.84 per share and revenue of $1.62 billion. "Fiscal 2015 was a tremendous year for Casey's," said Chairman and CEO Robert J. Myers. "Sales were strong throughout all of our categories, and the Company is poised to grow the business in fiscal 2016 with a variety of initiatives to improve the existing store base, while at the same time building and acquiring more stores." Casey's projects FY16 same-store fuel gallons sales to rise 2 percent. It expects grocery and other merchandise sales to increase 6.2 percent. Casey's also projects prepared food and fountain sales to surge 10.4 percent. Casey's shares surged 4.85 percent to $91.49 in the after-hours trading session.