Casey’s General Stores saw higher net income despite lower revenue in the fiscal second quarter, thanks to improved same-store sales fueled by the prepared food and dispensed beverage category.

The company’s net income climbed 13.9 per cent to $180.9 million despite revenue falling 2.9 per cent to $3.95 billion. Earnings before interest, taxes, depreciation, and amortization (EBITDA) grew 14.1 per cent to $348.9 million.

Inside same-store sales climbed 4 per cent while same-store fuel gallons dipped 0.6 per cent.

“Inside same-store sales were driven by the prepared food and dispensed beverage category, with hot sandwiches and cold dispensed beverage performing exceptionally well,” said Darren Rebelez, Casey’s General Stores board chair, president, and CEO.

“Our fuel team continues to balance volume and margin as they achieved over 40 cents per gallon fuel margin while outpacing the relevant geographic market in same-store fuel gallons.”

Subsequent to the end of the quarter, the company closed the acquisition of Fikes Wholesale, which owns 198 CEFCO convenience stores.

Due to the acquisition, Casey’s expects to incur an additional $15 million to $20 million in one-time deal and integration costs, primarily in the third quarter.

Casey also forecasts full-year EBITDA to rise by at least 10 per cent, with contribution from Fikes to be modestly accretive in the fourth quarter.