The Ankeny-based Casey’s convenience store chain saw first quarter earnings drop, despite an increase in sales. Casey’s reported net income of $52.3 million or $1.34 a share, which was down 6.1 percent from the $55.7 million, or a $1.43 a share for the same quarter last year. Sales increased by 8.3 percent to $2.29 billion compared to $2.1 billion in the same quarter laster year.
The financial report for the quarter that ended July 31st says a reduction in renewable fuel credits by $7.2 million impacted the bottom line. The chain says its prepared food sales were up more than 11 percent for the quarter, grocery sales were up 7.7 percent and gas sales were up 3 percent. The gas sales were bolstered by the Fuel Saver program.