CASEYS GENERAL STORES INC 10-Q

Financial Statements (unaudited)

Item 1. Condensed Consolidated Financial Statements CASEY’S GENERAL STORES, INC. AND SUBSIDIARIES CONDENSED CONSOLIDATED BALANCE SHEETS (Unaudited) (DOLLARS IN THOUSANDS) July 31, 2026 April 30, 2026 Assets Current assets: Cash and cash equivalents $ 524,059 $ 522,991 Receivables 245,837 243,502 Inventories 557,968 557,151 Prepaid and other current assets 60,997 29,783 Income taxes receivable — 10,585 Total current assets 1,388,861 1,364,012 Operating lease right-of-use assets, net 430,740 432,640 Other assets, net of amortization 137,685 121,249 Goodwill 1,284,216 1,268,686 Property and equipment, net of accumulated depreciation of $ 3,546,531 at July 31, 2026 and $ 3,444,442 at April 30, 2026 5,879,761 5,749,468 Total assets $ 9,121,263 $ 8,936,055 Liabilities and Shareholders' Equity Current liabilities: Current maturities of long-term debt and finance lease obligations $ 104,323 $ 101,357 Accounts payable 853,659 823,804 Accrued expenses and current portion of operating lease liabilities 377,013 425,445 Income taxes payable 28,618 — Total current liabilities 1,363,613 1,350,606 Long-term debt and finance lease obligations, net of current maturities 2,326,200 2,330,237 Deferred income taxes 772,640 739,843 Operating lease liabilities, net of current portion 457,625 459,284 Insurance accruals, net of current portion 32,167 32,140 Other long-term liabilities 75,105 72,226 Total liabilities 5,027,350 4,984,336 Shareholders’ equity: Preferred stock, no par value — — Common stock, no par value — — Retained earnings 4,093,913 3,951,719 Total shareholders’ equity 4,093,913 3,951,719 Total liabilities and shareholders' equity $ 9,121,263 $ 8,936,055 See notes to unaudited condensed consolidated financial statements. 4 Table of Contents CASEY’S GENERAL STORES, INC. AND SUBSIDIARIES CONDENSED CONSOLIDATED STATEMENTS OF INCOME (Unaudited) (AMOUNTS IN THOUSANDS, EXCEPT SHARE AND PER SHARE AMOUNTS) Three Months Ended July 31, 2026 2025 Total revenue $ 5,678,336 $ 4,567,106 Cost of goods sold (excluding depreciation and amortization, shown separately below) 4,439,142 3,454,660 Operating expenses 754,111 698,176 Depreciation and amortization 115,994 108,963 Interest, net 22,059 26,850 Income before income taxes 347,030 278,457 Federal and state income taxes 73,310 63,102 Net income $ 273,720 $ 215,355 Net income per common share Basic $ 7.40 $ 5.80 Diluted $ 7.37 $ 5.77