Inside-Store Comparables Strong at Casey's in 2Q, but High Commodity Costs Still an Issue

Casey's CASY reported solid top-line results in its fiscal 2012 second quarter, though inside-the-store profit margins continue to face pressure. Ultimately, we think these pressures will continue, and inside-the-store sales may start to suffer from elevated gasoline prices. All told, we will be maintaining our fair value estimate at this time.