TradingKey – On September 9, general merchandise chain Casey’s (CASY) plunged nearly 12% in U.S. pre-market trading. Although the company’s latest first-quarter fiscal results exceeded market expectations, investors were disappointed by the quality of profit growth and the company’s failure to raise its full-year guidance.

Source: TradingView

For the first quarter of fiscal 2027 ended July 31, Casey’s revenue increased 24% year-over-year to $5.678 billion, beating market expectations of $5.56 billion; net profit grew 27.1% to $274 million, and diluted earnings per share rose to $7.37 from $5.77 in the same period last year, also topping analyst estimates of $6.78.

However, profit growth for the quarter was largely driven by the fuel…