Casey's stock jumps on earnings, pizza sales
Shares of Casey's General Stores (CASY) closed 11% higher after the convenience store retailer reported first quarter results that beat Wall Street estimates on both the top and bottom lines. The company says pizza sales, including the launch of its new thin crust pizza, gave its results a boost. Yahoo Finance Live checks in on the stock's reaction.
Video Transcript
AKIKO FUJITA: Well, shares of Casey's General Stores closing the day in the green after the convenience store chain's fiscal first quarter 2024 beat expectations. Demand for pizzas helped drive sales at Casey's General Stores. And its shares hit a record high Tuesday.
Profit was up 11% from the year ago. The CEO, Julie, saying the company benefited from what he described as a more normalized macro operating environment that puts Casey's business model on full display. But full disclosure, I have never been to a Casey's, have you?
JULIE HYMAN: Me neither. I was going to ask you. That was going to be my prime question to you. I also [? drove ?] into Casey's. Apparently, Casey's is known for its pizza. And that was one of the things that drove it same store sales.
They launched thin crust pizza, which also did well for them. So that was one of the things that drove the sales also. Really interesting here to learn about a company that's not necessarily always on our radar. But with that 11% gain, it gets your attention.
AKIKO FUJITA: One of these days, we'll all make a trip to try the thin crust-- did you say the thin crust pizza?
JULIE HYMAN: Yeah, that's the new one. That's the new offering, apparently.
AKIKO FUJITA: OK. OK. Well, I'll have to try it.
JULIE HYMAN: It's on the list.
AKIKO FUJITA: And if you've been to a Casey's, maybe you can let us know.
JULIE HYMAN: Please.
AKIKO FUJITA: Do a taste test there.
