Casey’s (CASY) stock hit an all-time high on Tuesday after the company beat on both the top and bottom lines in its fiscal fourth quarter.
Adjusted earnings grew 12.4% from a year ago to $2.63, alongside net sales growth of 11% to $3.99 billion. Same-store sales grew 1.7%, driven by its prepared food business, non-alcoholic beverages, and general merchandise.
CEO Darren Rebelez told Yahoo Finance the pizza and convenience store chain is seeing growth across all income cohorts and has executed against three drivers: store growth, and efficiency, and its prepared foods business (including its “crown jewel” pizza business).
“We know we have a ton of white space to grow this brand,” Rebelez told Yahoo Finance. The company plans to open 80 stores in fiscal 2026 through M&A and new store construction.
Casey’s is gaining momentum, much like Dollar General (DG), Dollar Tree (DLTR), and Walmart (WMT), as shoppers fixate on value. Rebelez said that consumers are choosing Casey’s over quick-service restaurants and pizza chains like Pizza Hut, Papa John’s (PZZA), and Domino’s (DPZ).
He added that low-income shoppers are making “different” purchase decisions, but they are still spending.
“People come in, they see the candy price, and then they go over to our bakery, where we have cookies and brownies and other sweet treats that are far more affordable,” he said.
The 12% spike in Casey’s stock in midday trading Tuesday marked its biggest jump in about a year. Shares are up nearly 24% this year.