Casey’s General Store Revenue: CASY inventory decreases on mixed Q3 results

<p>Casey’s General Store (NASDAQ: CASY) earnings for the retailer’s fiscal third quarter of 2020, CASY shares have fallen lower after the markets closed on Monday. This after reporting diluted earnings per share (EPS) of 91 cents on revenue of $ 2.25 billion. There are mixed results next to Wall Street estimates of 89 cents per share and a turnover of 2.29 billion dollars.

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Let’s now take a closer look at the latest Casey’s General Store earnings report.

Earnings after dilution per share decreased by 19.47% from $ 1.13 during the same period last year. Revenue for the quarter was 9.76% higher than $ 2.05 billion in the third quarter of 2019. Casey’s General Store earnings report also includes a net profit of $ 33.96 million. This is a decrease of 18.83% compared to the company’s net profit of $ 41.84 million from the same period the year before.

Darren Rebelez, President and CEO of Casey’s General Store, said this about CASY’s share income report:

“We are optimistic about the launch of Casey’s rewards program in January. With a strong first membership growth, we look forward to further developing the contact with our guests through this platform. We are pleased to begin implementing the strategic plan we presented in January, which we believe will continue to generate shareholder value. ”

Casey’s General Store earnings report also includes an updated forecast for the fiscal year 2020. This includes sales depreciation and amortization at the same store of 3% to 5%. The previous guidance had this between 6% and 8%. It also expects only 20 store acquisitions, instead of the previous 25.

CASY shares fell slightly from Monday afternoon.

At the time of writing, William White had no position in any of the above securities.

Article printed from InvestorPlace Media, https://investorplace.com/2020/03/caseys-general-store-earnings-drop-casy-stock/.

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