Casey's General Stores (CASY) Earnings Expected to Grow: What to Know Ahead of Next Week's Release

Core Viewpoint - The market anticipates Casey's General Stores (CASY) to report a year-over-year increase in earnings driven by higher revenues for the quarter ending April 2024, with actual results being crucial for stock price movement [1][2]. Earnings Expectations - The consensus estimate for Casey's upcoming quarterly earnings is $1.72 per share, reflecting a year-over-year increase of +15.4% [3]. - Expected revenues for the quarter are $3.46 billion, which is a 3.9% increase from the same quarter last year [3]. Estimate Revisions - Over the last 30 days, the consensus EPS estimate has been revised 0.13% lower, indicating a reassessment by analysts regarding the company's earnings prospects [3]. - The Most Accurate Estimate for Casey's is lower than the Zacks Consensus Estimate, resulting in an Earnings ESP of -18.61%, suggesting a bearish outlook from analysts [10]. Earnings Surprise Prediction - The Zacks Earnings ESP model indicates that a positive Earnings ESP is a strong predictor of an earnings beat, particularly when combined with a Zacks Rank of 1, 2, or 3 [8]. - Stocks with a positive Earnings ESP and a solid Zacks Rank have historically produced a positive surprise nearly 70% of the time [8]. Historical Performance - In the last reported quarter, Casey's exceeded the expected earnings of $2.20 per share by delivering $2.33, resulting in a surprise of +5.91% [12]. - Over the past four quarters, Casey's has beaten consensus EPS estimates three times [13]. Conclusion - Despite the potential for an earnings beat, Casey's current combination of a negative Earnings ESP and a Zacks Rank of 4 makes it challenging to predict a positive outcome for the upcoming earnings report [10][11].