Casey's General Stores, Inc.

What does Casey's own?
Casey's operates approximately 2,950 convenience stores across 19 states, primarily under the Casey's and Casey's General Store banners. The company also operates stores under the GoodStop (by Casey's), CEFCO, Lone Star Food Store, and Bucky's banners. Casey's owns three distribution centers and a tanker fleet that delivers approximately 60% of its fuel. The company owns its first fuel terminal in Waco, Texas, acquired as part of the Fikes deal.

Is Casey's publicly traded?
Yes. Casey's General Stores, Inc. trades on the NASDAQ Global Select Market under the ticker symbol CASY. The company has been publicly traded since its 1983 IPO and is a constituent of the S&P 500 index. No parent company owns Casey's; it is an independent corporation headquartered in Ankeny, Iowa.

Who founded Casey's?
Casey's was founded in 1968 by Donald Lamberti, who partnered with his gasoline supplier Kurvin C. Fish to open the first store in Boone, Iowa. The name "Casey's" comes from Fish's initials, K.C. Lamberti chose not to use his own surname due to prejudice against Italian Americans at the time. Lamberti's father, Domenic, was an Italian immigrant and former coal miner who operated a store in Des Moines.

What is Casey's revenue?
For fiscal year 2026 (ended April 30, 2026), Casey's reported total revenue of $17.6 billion, up 10.2% from the prior year. Net income was $714.4 million, up 30.7%, and EBITDA was nearly $1.5 billion, up 23.6%. Diluted EPS was $19.16. The company raised its dividend for the 27th consecutive year. Retail fuel revenue accounted for approximately 60% of total revenue.

How many Casey's stores are there?
As of April 30, 2026, Casey's operated 2,944 stores across 19 states. The company added 270 stores in fiscal year 2025 through new construction and the Fikes Wholesale acquisition. Casey's targets approximately 500 new stores over its current three-year strategic plan through a mix of acquisitions and new construction, with at least 80 stores expected in fiscal 2026.

What is the Fikes acquisition?
In November 2024, Casey's acquired Fikes Wholesale and its 198 CEFCO convenience stores, the largest acquisition in company history. The deal expanded Casey's into Texas with 148 additional stores and marked its first entry into Alabama, Florida, and Mississippi. The acquisition also included Casey's first fuel terminal in Waco, Texas. Casey's planned to invest approximately $150 million remodeling the CEFCO stores, including adding new kitchens in about 85% of locations.

Is Casey's the largest American-owned convenience store chain?
Yes. Following 7-Eleven's acquisition of Speedway, Casey's became the third largest convenience store chain in the United States by store count, after 7-Eleven (Japanese-owned) and Circle K (Canadian-owned). Casey's is the largest chain that is wholly American-owned. The company is headquartered in Ankeny, Iowa, and has been publicly traded on NASDAQ since 1983.

Casey's origins trace to the Lamberti family's store in Des Moines, where Domenic Lamberti, an Italian immigrant and former coal miner, operated a coal-and-ice delivery business that evolved into a small grocery and gasoline operation. His son Donald F. Lamberti left his accounting studies at Drake University in 1960 to run the store when his father fell ill. At age 20, Donald leased the store and began remodeling it into a convenience store format.

In 1965, Donald Lamberti met Kurvin C. Fish, a salesman for Frontier Oil Company who supplied gasoline to the store. Fish persuaded Lamberti to purchase the Square Deal Oil Company, which included service stations in the Ames, Iowa area. The first Casey's store opened in Boone, Iowa, in 1968, after Lamberti and Fish remodeled an existing location. Lamberti loaned Fish the money for his share of the partnership. The store hit its projected annual sales numbers within three months of opening.

The name "Casey's" comes from Fish's initials, K.C. Lamberti chose not to use his own surname due to lingering prejudice against Italian Americans at the time. The name has remained since the first store opened.

Casey's grew steadily through the 1970s and 1980s, opening stores across small-town Iowa and neighboring Midwest states. The company targeted communities with populations under 20,000, a strategy that differentiated it from urban-focused competitors. Approximately 71% of all Casey's stores continue to operate in towns with fewer than 20,000 residents.

Casey's went public in 1983, listing on NASDAQ under the ticker CASY. The IPO provided capital for accelerated expansion. The company developed its made-from-scratch pizza program, which became a defining feature of the brand. Each store with a kitchen makes pizza dough from scratch daily.

Through the 1990s and 2000s, Casey's expanded beyond Iowa into Missouri, Illinois, Minnesota, Nebraska, Kansas, Wisconsin, and other Midwest states. The company built three owned distribution centers to supply its stores, giving it control over its supply chain. The company also developed its owned tanker fleet for fuel delivery.

In November 2024, Casey's completed the acquisition of Fikes Wholesale and its 198 CEFCO convenience stores, the largest acquisition in company history. The deal expanded Casey's into Texas with 148 additional stores and marked its first entry into Alabama, Florida, and Mississippi. The acquisition also included Casey's first fuel terminal, located in Waco, Texas. Casey's announced plans to invest approximately $150 million remodeling CEFCO stores, including adding new kitchens in about 85% of locations.

Casey's shuttered JF Heritage Food Company, a food production facility acquired as part of the Fikes deal, after assessing that its own food program would be integrated into CEFCO stores. The company has also operated stores under additional banners including GoodStop (by Casey's), Lone Star Food Store, and Bucky's during transition periods.

For fiscal year 2026, Casey's reported strong financial results. Total revenue grew 10.2% to $17.6 billion, driven by the Fikes acquisition and organic growth. Net income increased 30.7% to $714.4 million, with diluted EPS of $19.16. The company raised its dividend for the 27th consecutive year and maintained a strong balance sheet. Casey's expects to open at least 80 stores in fiscal 2026 through a mix of acquisitions and new construction, bringing the three-year strategic plan period total to approximately 500 stores.

Casey's published its 2024 Sustainability Report in July 2024, followed by a 2026 Sustainability Report. The reports are prepared in accordance with Sustainability Accounting Standards Board (SASB) standards and align with relevant United Nations Sustainable Development Goals.

In environmental commitments, Casey's reported Scope 1 and 2 greenhouse gas emissions for the second consecutive year and expanded its assessment to include certain Scope 3 categories. The company grew its electric vehicle infrastructure to 170 charging stations at 37 locations across the Midwest. Solar panels were installed on 82 refrigerated trailers, with an additional 133 slated for installation, providing alternative energy for the refrigerated fleet.

In food safety, Casey's enhanced its Food Safety and Quality Assurance Program by strengthening oversight, certifications, audits, and training standards. The company confirmed that 98.9% of suppliers for its private brands, prepared food, and dispensed beverage products are certified to Global Food Safety Initiative standards.

Casey's board diversity includes 45% women directors and 36% racially or ethnically diverse directors. The company developed and implemented a Supplier Code of Conduct and Supplier Handbook. The company's purpose statement focuses on making life better for communities and guests, with sustainability principles embedded in store-level operations. The company's Sustainability Committee, composed of cross-functional leaders, governs the overall sustainability strategy and priorities.

Casey's has faced legal challenges related to pricing practices and consumer protection.

A potential class action lawsuit filed in U.S. District Court for the Southern District of Iowa in August 2025 alleges that Casey's overcharges customers by advertising in-store discounts that are not applied at the cash register. The plaintiff cited incidents at Iowa stores where promoted discounts on alcoholic beverages were not honored. Casey's estimated in court filings that if each of its 2,500 stores failed to apply one $2.76 discount per day since August 2023, compensatory damages would total approximately $5 million. The case is pending.

A separate class action lawsuit alleges that Casey's imposed undisclosed surcharges on tobacco products at the point of sale without clear notice to customers. The case has progressed through procedural stages including class certification motions and discovery. As of 2026, no final settlement has been approved.

In 2009, Casey's voluntarily recalled products containing peanuts sourced from Peanut Corporation of America due to potential salmonella contamination. No consumer illness complaints were reported. The recall was part of a broader industry response to the PCA salmonella outbreak.