Casey's Reports Strong Q1 FY2027 Earnings Growth and 2026 Annual Meeting Results

Overview of Filing

On September 8, 2026, Casey's General Stores, Inc. (NASDAQ: CASY) submitted a Current Report on Form 8-K covering two primary matters:

1. Item 2.02 (Results of Operations and Financial Condition): Announcement of financial results for the first fiscal quarter ended July 31, 2026.
2. Item 5.07 (Submission of Matters to a Vote of Security Holders): Voting outcomes from the Annual Shareholders' Meeting held on September 2, 2026.

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Q1 FY2027 Financial Performance Highlights (Exhibit 99.1)

• Earnings Per Share (Diluted): $7.37, up 27.7% from $5.77 in Q1 FY2026.
• Net Income: $273.7 million, an increase of 27.1% compared to $215.4 million in the prior-year period.
• EBITDA: $485.1 million, an increase of 17.1% year-over-year from $414.3 million.
• Inside Sales Performance:
  • Inside Sales: $1.78 billion (+5.6% total YoY growth).
  • Inside Same-Store Sales: +3.2% (two-year stack of +7.7%).
  • Prepared Food & Dispensed Beverage Same-Store Sales: +4.8% (margin improved to 59.3%).
  • Grocery & General Merchandise Same-Store Sales: +2.7% (margin of 35.6%).
  • Overall Inside Margin: 42.2% (up ~30 bps YoY).
• Fuel Performance:
  • Fuel Gallons Sold: 934.2 million (+2.5% YoY total).
  • Same-Store Gallons Sold: -0.3% (+1.4% two-year stack).
  • Fuel Margin: 47.8 cents per gallon (vs. 41.0 cents per gallon in Q1 FY2026).
  • Total Fuel Gross Profit: $446.9 million (+19.6% YoY).
• Operating Expenses & Expansion:
  • Total Operating Expenses: $754.1 million (+8.0% YoY), driven by 64 net store additions, credit card fees, and wage rate increases.
  • Store Count: 2,959 stores as of July 31, 2026 (+9 new builds, +12 acquisitions, -6 closures during the quarter).
  • Liquidity & Buybacks: ~$1.4 billion in total available liquidity ($524M cash, $857M credit availability); repurchased $45.6 million of stock, leaving ~$973 million remaining on buyback authorization.

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2026 Annual Meeting Voting Results (Item 5.07)

1. Election of Directors (Proposal #1): All eleven nominees were elected by majority vote (Sri Donthi, Donald E. Frieson, David K. Lenhardt, Maria Castañón Moats, Darren M. Rebelez, Larree M. Renda, Judy A. Schmeling, Michael Spanos, Stanley J. Sutula III, Gregory A. Trojan, and Allison M. Wing).
2. Auditor Ratification (Proposal #2): Ratified KPMG LLP as independent auditor for the fiscal year ending April 30, 2027 (31.29M For vs. 0.94M Against).
3. Say-on-Pay (Proposal #3): Advisory approval of named executive officer compensation passed (27.74M For vs. 0.74M Against).
4. Shareholder Proposal on Special Meeting Rights (Proposal #4): Failed to pass (11.45M For vs. 17.63M Against).