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During the September 9 episode of Mad Money, Jim Cramer called Casey's General Stores, Inc. (NASDAQ:CASY) a "perfect bellwether," as he said:
Casey's General Stores, Inc. (NASDAQ:CASY) reported fiscal first-quarter 2027 revenue of $5.678 billion, up 24.3% year over year, while diluted EPS increased 27.7% to $7.37. Net income rose 27.1% to $273.7 million. Inside same-store sales increased 3.2%, down from 4.3% a year earlier. Grocery and general merchandise same-store sales rose 2.7% compared to 3.8% a year earlier, while prepared food and dispensed beverage same-store sales increased 4.8%. The company said prepared food and dispensed beverage sales were driven primarily by positive traffic, led by whole pizzas. Fuel also contributed to earnings growth. Same-store gallons sold declined 0.3%, but fuel gross profit increased 19.6% to $446.9 million, while fuel margin rose to 47.8 cents per gallon from 41 cents a year earlier.
The bearish case centers on slower inside sales and the volatility of fuel margins. Casey's General Stores, Inc. (NASDAQ:CASY) generated higher fuel profits despite selling fewer same-store gallons, while the 47.8-cent margin was 6.8 cents higher than a year earlier. Management described the fuel environment as volatile. CEO Darren Rebelez said customers were responding to higher fuel prices with "fewer gallons per trip, but more trips made." He also said customers were moving away from premium and mid-grade gasoline toward regular and higher-ethanol blends.
It is worth noting that Casey's traded at a forward P/E of 30.21 as of September 9. Operating expenses rose 8% in the quarter. The company maintained its fiscal 2027 outlook, including inside same-store sales growth of 2% to 5%, same-store fuel gallons between negative 1% and positive 1%, and EBITDA growth of 8% to 10%.