Caseys General Stores Inc (NASDAQ:CASY), a prominent convenience retailer and pizza chain in the United States, stock rallies 15.65% (As on June 12, 11:21:16 AM UTC-4, Source: Google Finance) after the company posted better than expected results for the fourth quarter of FY 24. The company has also announced the upcoming addition of Maria Castañón Moats to its Board of Directors, effective July 1, 2024. Castañón Moats, retiring from PricewaterhouseCoopers, LLP (PwC) on June 30, 2024, will increase the number of directors from ten to eleven. Inside same-store sales up 5.6% compared to the prior year, and 12.4% on a two-year stack basis, with an inside margin of 41.2%, led by strong performance in pizza and bakery as well as alcoholic and non-alcoholic beverages. Strong sales growth was accomplished while improving inside margin. The fuel team achieved market share gains while striking the right balance between fuel gallon growth and gross profit margin throughout the year to drive fuel gross profit up 3.9% from the prior year. Total inside gross profit increased 16.2% to $517.6 million compared to the prior year. Fuel same-store gallons were up 0.9% compared to the prior year with a fuel margin of 36.5 cents per gallon. Total fuel gross profit increased 15.4% to $253.6 million compared to the prior year.

Moreover, Casey’s Rewards members grew to 7.9 million by year-end. The Company built or acquired 154 stores in the fiscal year, ending at 2,658 stores and entered Texas, its 17th state. Casey’s recorded strong prepared food and dispensed beverage growth driven by innovation including thin crust pizza and a refreshed lunch sandwich menu.

CASY in the fourth quarter of FY 24 has reported the adjusted earnings per share of $2.34, beating the analysts’ estimates for the adjusted earnings per share of $1.70, according to the Zacks Consensus Estimate. The company had reported the adjusted revenue growth of 35.9 percent to $3.6 billion in the fourth quarter of FY 24, beating the analysts’ estimates for revenue by 3.38%.

Additionally, at April 30, 2024, the Company had approximately $1.1 billion in available liquidity, consisting of approximately $206 million in cash and cash equivalents on hand and $900 million in undrawn borrowing capacity on existing lines of credit. The company has increased the quarterly dividend by 16% to $0.50 per share.

For fiscal 2025, the Company expects EBITDA to increase at least 8%. The Company expects inside same-store sales to increase 3% to 5% and inside margin comparable to fiscal 2024.