Casey’s General Stores Inc. (NASDAQ: CASY) will be added to the S&P 500 index effective the opening of trading on April 9, 2026, replacing Hologic Inc. (NASDAQ: HOLX). The change follows Hologic’s acquisition by private‑equity affiliates of Blackstone and TPG, which removed it from the index.
Casey’s reported Q3 FY26 results that underpin the index addition. Diluted earnings per share rose 49.8% year‑over‑year to $3.49, beating the consensus estimate of $3.00 by $0.49. EBITDA increased 27.5% to $308.9 million, driven by higher sales in prepared‑food and fuel segments and disciplined cost management. The company’s revenue growth and margin expansion reflect a favorable mix shift toward higher‑margin prepared‑food items and efficient fuel operations.
Segment performance highlights the drivers behind the strong earnings. Prepared‑food sales grew, supported by the expansion of the company’s pizza, sandwich, and bakery offerings. Fuel gross profit also increased, reflecting higher fuel volumes and improved pricing power. Grocery sales remained steady, providing a stable base for the company’s overall revenue mix. Together, these segments contributed to the 49.8% EPS beat and the 27.5% EBITDA gain.
Management emphasized a customer‑centric approach and a commitment to improving the experience for guests and communities. The company’s strategic plan focuses on accelerating the food business, expanding store count, and enhancing operational efficiency, with a target of adding approximately 500 new locations by the end of fiscal year 2026.
Investors reacted positively to the announcement, citing the strong earnings performance and the expected inflow from index‑tracking funds. The inclusion signals market confidence in Casey’s growth trajectory and its evolving food‑service business model, and it is likely to increase liquidity and trading volume for the company’s shares.
The S&P 500 addition positions Casey’s among the 500 largest U.S. companies, expanding its visibility to index‑tracking funds and potentially boosting demand for its shares. The move also validates the company’s strategic focus on prepared‑food expansion and store growth, reinforcing its long‑term valuation prospects and supporting its broader growth plan.
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