Seeking Alpha

Positive outlook from Casey's General Stores

|About: Casey's General Stores, Inc. (CASY)|By:, SA News Editor

Casey's General Stores (NASDAQ:CASY) squeezes past the consensus estimate on FQ3 revenue as same-store grocery sales rose 2.5%.

Same-store fuel gallons sold were up 3.8% during the quarter, while same-store prepared food sales rose 1.7%.

Casey's on capital allocation: "Casey's plans to allocate additional capital in FY 2019 and beyond toward opportunities to increase shareholder value. In FY 2019, Casey's anticipates at least $150 million of incremental capital available relative to FY 2018 due to reduced remodel and replacement requirements combined with anticipated tax reform benefits."

Looking ahead, Casey's expects FY21 same-store sales growth of 4% for fuel gallons, 6% for grocery and 10% for prepared food.

CASY -0.27% premarket to $110.86.

Previously: Caseys General Stores misses by $0.15, beats on revenue (March 7)

Try Seeking Alpha PREMIUM for unlimited analysis on CASY