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Casey's General Stores fiscal Q3 profit falls 6.6% YOY

Casey's General Stores Inc. said its normalized net income for the fiscal third quarter ended Jan. 31 amounted to 91 cents per share, compared with the S&P Capital IQ consensus estimate of 95 cents per share.

EPS declined 7.3% year over year from 98 cents.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was $36.0 million, a decline of 6.6% from $38.5 million in the year-earlier period.

The normalized profit margin fell to 2.3% from 2.3% in the year-earlier period.

Total revenue declined 6.3% on an annual basis to $1.57 billion from $1.67 billion, and total operating expenses declined 6.4% year over year to $1.50 billion from $1.60 billion.

Reported net income decreased on an annual basis to $38.3 million, or 97 cents per share, from $39.5 million, or $1.01 per share.