Casey's General Stores (CASY) 8-K Casey’s Opens 28 Stores in the Quarter, Positioned Well for Future Growth

Exhibit 99.1

NEWS RELEASEFORIMMEDIATE RELEASE
Casey’s General Stores, Inc. One Convenience Blvd. Ankeny, IA 50021	Nasdaq Symbol CASY CONTACT Bill Walljasper (515) 965-6505

Casey’s Opens 28 Stores in the Quarter, Positioned Well for Future Growth

Ankeny, IA, March 11, 2013—Casey’s General Stores, Inc. (Nasdaq symbol CASY) today reported $0.40 in diluted earnings per share for the third quarter of fiscal 2013 ended January 31, 2013 compared to $0.43 for the same period a year ago. Year-to-date diluted earnings per share was $2.26 versus $2.44 for the same period last year. “The quarter was adversely impacted by a challenging cigarette environment,” said Chairman and CEO Robert J. Myers. “However we did experience improved cigarette sales throughout the third quarter and continue to drive prepared food sales with several operational initiatives being implemented within our store base.”

Gasoline—The Company’s annual goal is to increase same-store gallons sold 1% with an average margin of 14.0 cents per gallon. For the third quarter, same-store gallons sold were up 0.6% with an average margin of 13.8 cents per gallon. “The retail price of fuel was in-line with the prior year’s third quarter, which helped improve same-store gallons sold,” said Myers. For the first nine months of the fiscal year, total gallons sold were up 3.6% with an average margin of 14.6 cents per gallon. Year-to-date same-store gallons sold were flat compared to prior year.

Grocery and Other Merchandise—Casey’s annual goal is to increase same-store sales 6.2% with an average margin of 32.7%. For the quarter, same-store sales were up 3.2% with an average margin of 31.7%. “Cigarette sales stabilized in the third quarter due to retail price adjustments made throughout the fiscal year,” stated Myers. “Although these adjustments adversely impacted our overall margin, the margin decline was partially offset by a more favorable product mix within the grocery and other merchandise category.” For the nine months ended January 31, 2013, same-store sales were up 1.3% with an average margin of 32.9%. Total sales for the year are up 4.3% and gross profit increased 6.2% to $354.7 million.

Prepared Food and Fountain—The goal for fiscal 2013 is to increase same-store sales 11% with an average margin of 61.1%. For the quarter, same-store sales were up 11.6% with an average margin of 60.6%. “An increase in cheese prices coupled with some other input cost increases pulled the margin back this quarter,” said Myers. “Fortunately same-store sales continue to perform well due in part to expanded 24-hour operations, pizza delivery, and major remodels.” For the year, same-store sales were up 10.2% with an average margin of 62.2%. Year-to-date, total sales were up 14.8% and gross profit rose 17.7% to $265.1 million.

Operating Expenses—Year to date, operating expenses increased 11.1% to $569.3 million. For the third quarter, operating expenses were up 12.2%. Included in the third quarter results was a $1.1 million impairment charge stemming from the planned closure of several stores in a recent acquisition. “The majority of the operating expense increase for both the quarter and year were from newly built, acquired and replaced stores over the past two fiscal years, along with the continued roll-out of 24-hour stores, pizza delivery, and major remodels,” stated Myers. Store-level operating expenses for locations not impacted by the initiatives were up approximately 3.8% for the quarter and 4% for the first nine months.

Expansion—The annual goal is to increase the total number of stores 4-6%. Through the first nine months of the fiscal year, the Company opened 18 newly constructed stores and 21 acquired stores. The Company also replaced 22 stores. “We will continue to update and improve our existing store base while maintaining our steady growth of new and acquired stores,” said Myers. Casey’s currently has 21 new stores and 12 replacement stores under construction, as well as 10 stores under written agreement to acquire. The Company also has 50 new sites and 25 replacement sites under contract to purchase.

Dividend—At its March meeting, the Board of Directors declared a quarterly dividend of $0.165 per share. The dividend is payable May 15, 2013 to shareholders of record on May 1, 2013.

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Casey’s General Stores, Inc. Condensed Consolidated Statements of Comprehensive Income (Dollars in thousands, except share and per share amounts) (Unaudited)

	Three months ended January 31,				Nine months ended January 31,
	2013		2012		2013		2012
Total revenue	$	1,662,365		1,578,950	$	5,442,311		5,235,300
Cost of goods sold (exclusive of depreciation and amortization, shown separately below)		1,412,679		1,350,200		4,626,338		4,476,850
Gross profit		249,686		228,750		815,973		758,450
Operating expenses		189,872		169,231		569,311		512,479
Depreciation and amortization		28,229		24,616		81,913		70,943
Interest, net		8,764		8,730		26,305		26,441
Income before income taxes		22,821		26,173		138,444		148,587
Federal and state income taxes		7,358		9,474		51,091		54,865
Net income		15,463		16,699		87,353		93,722
Other comprehensive income		—		—		—		—
Comprehensive income		$15,463		16,699		$87,353		93,722
Net income per common share
Basic	$	.40		.44	$	2.28		2.46
Diluted	$	.40		.43	$	2.26		2.44
Basic weighted average shares outstanding		38,317,140		38,071,742		38,282,196		38,050,676
Plus effect of stock compensation		304,948		383,394		331,934		342,826
Diluted weighted average shares outstanding		38,622,088		38,455,136		38,614,130		38,393,502

Casey’s General Stores, Inc.

Condensed Consolidated Balance Sheets

(Dollars in thousands)

(Unaudited)

	January 31, 2013		April 30, 2012
Assets
Current assets
Cash and cash equivalents	$	26,521	$	55,919
Receivables		19,790		21,700
Inventories		185,126		170,794
Prepaid expenses		1,953		1,298
Deferred income taxes		10,603		13,143
Income tax receivable		16,563		16,424
Total current assets		260,556		279,278
Other assets, net of amortization		13,931		12,403
Goodwill		114,661		104,385
Property and equipment, net of accumulated depreciation of $926,087 at January 31, 2013, and $860,998 at April 30, 2012		1,545,312		1,378,749
Total assets	$	1,934,460	$	1,774,815
Liabilities and Shareholders’ Equity
Current liabilities
Notes payable to bank	$	58,600	$	—
Current maturities of long-term debt		13,307		10,737
Accounts payable		197,245		211,165
Accrued expenses		97,005		84,739
Total current liabilities		366,157		306,641
Long-term debt, net of current maturities		660,779		667,930
Deferred income taxes		286,963		260,405
Deferred compensation		15,326		14,698
Other long-term liabilities		21,749		19,100
Total liabilities		1,350,974		1,268,774
Total shareholders’ equity		583,486		506,041
Total liabilities and shareholders’ equity	$	1,934,460	$	1,774,815

Certain statements in this news release, including any discussion of management expectations for future periods, constitute “forward-looking statements” within the meaning of the Private Securities Litigation Reform Act of 1995. Such forward-looking statements involve known and unknown risks, uncertainties, and other factors that may cause actual results to differ materially from future results expressed or implied by those statements. Casey’s disclaims any intention or obligation to update or revise forward-looking statements, whether as a result of new information, future events, or otherwise.

Sales and Gross Profit by Product

(Amounts in thousands)

	Gasoline			Grocery & Other Merchandise			Prepared Food & Fountain			Other			Total
Nine months ended 1/31/13
Sales	$	3,909,787		$	1,078,448		$	426,282		$	27,794		$	5,442,311
Gross profit	$	168,431		$	354,700		$	265,091		$	27,751		$	815,973
Margin		4.3	%		32.9	%		62.2	%		99.8	%		15.0	%
Gasoline gallons		1,157,077
Nine months ended 1/31/12
Sales	$	3,807,642		$	1,034,187		$	371,431		$	22,040		$	5,235,300
Gross profit	$	177,189		$	334,049		$	225,215		$	21,997		$	758,450
Margin		4.7	%		32.3	%		60.6	%		99.8	%		14.5	%
Gasoline gallons		1,116,684

Gasoline Gallons																Gasoline Margin
Same-store Sales Growth																(Cents per gallon, excluding credit card fees)
	Q1			Q2			Q3			Q4			Fiscal Year				Q1			Q2			Q3			Q4			Fiscal Year
F2013		-0.2	%		-0.4	%		0.6	%							F2013		14.9	¢		14.9	¢		13.8	¢
F2012		-2.7			-2.9			-2.4			2.5	%		-1.5	%	F2012		17.2			16.7			13.6			13.7	¢		15.3	¢
F2011		1.5			3.6			3.5			-1.9			1.6		F2011		16.4			14.9			13.9			15.6			15.2

Grocery & Other Merchandise																Grocery & Other Merchandise
Same-store Sales Growth																Margin
	Q1			Q2			Q3			Q4			Fiscal Year				Q1			Q2			Q3			Q4			Fiscal Year
F2013		2.6	%		-0.7	%		3.2	%							F2013		33.4	%		33.4	%		31.7	%
F2012		6.2			5.8			6.3			8.5	%		6.7	%	F2012		32.5			32.5			31.8			33.0	%		32.5	%
F2011		2.0			6.9			5.8			4.8			4.6		F2011		32.8			32.9			30.9			32.1			32.2

Prepared Food & Fountain																Prepared Food & Fountain
Same-store Sales Growth																Margin
	Q1			Q2			Q3			Q4			Fiscal Year				Q1			Q2			Q3			Q4			Fiscal Year
F2013		10.6	%		10.1	%		11.6	%							F2013		63.5	%		62.5	%		60.6	%
F2012		15.3			14.2			12.6			16.8	%		14.3	%	F2012		61.2			59.5			61.2			60.8	%		60.7	%
F2011		2.4			7.2			10.5			11.8			7.7		F2011		63.8			62.7			62.1			60.2			62.2

Corporate information is available at this Web site: http://www.caseys.com. Earnings will be reported during

a conference call on March 12, 2013. The call will be broadcast live over the Internet at 9:30 a.m. CST via the

Investor Relations section of our Web site and will be available in an archived format.