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Why Casey's General Stores Shares Are Surging Premarket Wednesday

Casey’s General Stores, Inc. (NASDAQ:CASY) shares are trading higher after the company reported fourth quarter and FY24 results. Sales of $3.60 billion exceeded the street view of $3.48 billion. EPS of $2.34 beat the consensus of $1.72. Inside same-store sales rose 5.6% and 12.4% over a two-year period, with an inside margin of 41.2%, aided by strong performance in hot sandwiches and dispensed beverages within the prepared food and dispensed beverage category, alongside non-alcoholic and alcoholic beverages in the grocery and general merchandise category. The company’s inside gross profit increased by 16.2% Y/Y to $517.6 million. Fuel same-store gallons grew 0.9% Y/Y, with a fuel margin of 36.5 cents per gallon. Total fuel gross profit increased by 15.4% Y/Y to $253.6 million in the quarter. As of April-end, the company had around $1.1 billion in available ...