Casey's (CASY) Q2 Earnings Preview: What You Should Know Beyond the Headline Estimates
The upcoming report from Casey's General Stores (CASY) is expected to reveal quarterly earnings of $3.65 per share, indicating a decline of 0.5% compared to the year-ago period. Analysts forecast revenues of $4.15 billion, representing an increase of 4.3% year over year.
The consensus EPS estimate for the quarter has remained unchanged over the last 30 days. This reflects how the analysts covering the stock have collectively reevaluated their initial estimates during this timeframe.
Ahead of a company's earnings disclosure, it is crucial to give due consideration to changes in earnings estimates. These revisions serve as a noteworthy factor in predicting potential investor reactions to the stock. Numerous empirical studies consistently demonstrate a strong relationship between trends in earnings estimate revision and the short-term price performance of a stock.
While investors typically use consensus earnings and revenue estimates as indicators of quarterly business performance, exploring analysts' projections for specific key metrics can offer valuable insights.
That said, let's delve into the average estimates of some Casey's metrics that Wall Street analysts commonly model and monitor.
The collective assessment of analysts points to an estimated 'Net sales- Fuel' of $2.67 billion. The estimate points to a change of +1.2% from the year-ago quarter.
Analysts forecast 'Net sales- Other' to reach $70.56 million. The estimate indicates a change of -4.9% from the prior-year quarter.
The consensus estimate for 'Net sales- Prepared Food & Dispensed Beverage' stands at $378.34 million. The estimate indicates a year-over-year change of +7.7%.
Based on the collective assessment of analysts, 'Net sales- Grocery & General Merchandise' should arrive at $985.66 million. The estimate indicates a change of +7.5% from the prior-year quarter.
The consensus among analysts is that 'Same-store sales - Prepared Food & Dispensed Beverage - YoY change' will reach 3.9%. The estimate compares to the year-ago value of 10.5%.
Analysts predict that the 'Number of Fuel gallons sold' will reach 731.72 million. The estimate is in contrast to the year-ago figure of 702.04 million.
The average prediction of analysts places 'Number of Stores (EOP)' at 2,562. Compared to the present estimate, the company reported 2,463 in the same quarter last year.
The combined assessment of analysts suggests that 'Same-store sales - Grocery & General Merchandise - YoY change' will likely reach 3.8%. Compared to the current estimate, the company reported 6.9% in the same quarter of the previous year.
Analysts expect 'Gross profit- Grocery & General Merchandise' to come in at $330.77 million. Compared to the present estimate, the company reported $305.25 million in the same quarter last year.
It is projected by analysts that the 'Gross profit- Prepared Food & Dispensed Beverage' will reach $220.75 million. Compared to the present estimate, the company reported $199.22 million in the same quarter last year.
According to the collective judgment of analysts, 'Gross profit- Other' should come in at $23.06 million. Compared to the current estimate, the company reported $22.06 million in the same quarter of the previous year.
Analysts' assessment points toward 'Gross profit- Fuel' reaching $273.41 million. The estimate compares to the year-ago value of $284.41 million.
View all Key Company Metrics for Casey's here>>>
Casey's shares have witnessed a change of +0.4% in the past month, in contrast to the Zacks S&P 500 composite's +5.1% move. With a Zacks Rank #2 (Buy), CASY is expected outperform the overall market performance in the near term. You can see the complete list of today's Zacks Rank #1 (Strong Buy) stocks here >>>>
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Casey's General Stores, Inc. (CASY) : Free Stock Analysis Report
