Casey’s has released its second quarter financial results, reporting strong earnings across multiple categories. The report highlighted various statistics for the three and six months ending Oct. 31.

Second Quarter Key Highlights

• Diluted EPS of $4.24, up 16% from the same period a year ago. Net income was $159 million, up 15%, and EBITDA was $306 million, up 13%, from the same period a year ago.
• Inside same-store sales increased 2.9% compared to prior year, and 11% on a two-year stack basis, with an inside margin of 41.1%. Total inside gross profit increased 9.7% to $553.3 million compared to the prior year.
• Same-store fuel gallons were flat compared to the prior year, with a fuel margin of 42.3 cents per gallon. Total fuel gross profit increased 8.6% to $308.8 million compared to the prior year.
• Same-store operating expenses excluding credit card fees were up 2.1%, favorably impacted by a 2% reduction in same-store labor hours.
• Casey’s built or acquired 59 stores in the quarter and recently entered Texas, its 17th state, with a 22-store acquisition that closed in November.

“Due to the hard work of our team, Casey’s delivered an outstanding second quarter highlighted by strong inside and fuel gross profit growth,” said Darren Rebelez, chairman, president and CEO. “Inside same-store sales were driven by prepared food and dispensed beverage, with whole pies and bakery performing exceptionally well. Our fuel team continues to do an excellent job finding the right balance between gallon growth and gross profit margin, as evidenced by another strong fuel margin quarter while same-store gallons were flat. The team continued to effectively manage the stores by reducing same-store labor hours while growing the business at the same time.”

Casey’s, a Fortune 500 company, operates over 2,500 c-stores in the U.S. Founded more than 50 years ago, the company has grown to become the third-largest c-store retailer and the self-proclaimed fifth-largest pizza chain in the country.