Casey’s earnings increased in its second quarter
Casey’s General Stores Inc. reported earnings of $2 per share for its second quarter, which ended Oct. 31, up from $1.28 per share for the same quarter a year ago. Year to date, earnings per share were $3.57 versus $2.56 a year ago, according to a release. Casey’s Chairman and CEO Robert Myers attributed the gains to an 11.6 percent increase in inside sales and a 7.7 percent increase in fuel sales. Gross profits were up 19.3 percent for the quarter. So far this fiscal year, operating expenses have increased 8.7 percent to $531.6 million, with a 9.5 percent increase in the second quarter. Myers attributed the increases to operating an additional 48 stores compared with a year ago. Lower fuel prices resulted in an $1.3 million drop in transportation costs. The company is on pace to build an additional 50 stores and remodel 100 by the end of the fiscal year.