ANKENY, IOWA — Strong prepared food and dispensed beverages, most notably pizza slices and a new breakfast platform introduced in September 2021, led solid year-over-year earnings and sales gains at Casey’s General Stores, Inc.
Net income at Casey’s in the year ended April 30 totaled $339.79 million, equal to $9.14 per share on the common stock, up 8.6% from $312.9 million, or $8.44 per share, in fiscal 2021.
Total revenues increased nearly 49% in fiscal 2022, surging to $12.95 billion from $8.71 billion.
Total inside sales were $4.35 billion in fiscal 2022, up 14% from $3.81 billion a year ago. A strong fourth quarter was a key contributing factor to the fiscal performance, said Stephen P. Bramlage, senior vice president and chief financial officer.
“Pizza slices continue to perform well, up 21% for the quarter, while hot breakfast sandwiches were up close to 41% as part of the company’s breakfast menu relaunch that began in September,” Mr. Bramlage said during a June 8 conference call with analysts. “Margin has been adversely impacted by cost increases in our food ingredients, partially offset by menu price increases, along with an uptick in waste as stores kept the warmers full of grab-and-go items to keep up with the higher demand.”
