CASEYS GENERAL STORES Business Summary

Casey’s General Stores Inc. (CASY) operates a specialized convenience retail model often described as a "kitchen that sells gas," primarily serving rural and suburban markets across the Midwestern and Southern United States. The company generates revenue through three core segments: Fuel, which serves as a high-volume traffic driver; Grocery & General Merchandise; and Prepared Food & Dispensed Beverage, which features its signature made-from-scratch pizza program. As of March 2026, Casey’s maintains its standing as the third-largest convenience store retailer and the fifth-largest pizza chain in the U.S., operating over 2,900 locations with a strategic focus on "rural moats" where approximately 50% of stores are in towns with fewer than 5,000 residents. Its primary direct competitors include 7-Eleven, Alimentation Couche-Tard (Circle K), Murphy USA, and QuikTrip; Casey’s distinguishes itself through its vertical integration of distribution and a high-margin food service business that captures dining dollars in underserved geographies where national competitors often lack a physical footprint. Founded in 1968 by Donald Lamberti and Kurvin C. Fish, Casey’s is currently led by Chairman, President, and CEO Darren Rebelez, who joined in 2019 following executive roles at IHOP and 7-Eleven. The senior leadership team includes Chief Financial Officer Steve Bramlage, a former Aramark executive with deep M&A expertise, Chief Operating Officer Ena Williams, and SVP & Chief Information Officer Sanjeev Satturu, who directs the company’s digital and technological infrastructure. The company’s strategic expansion is overseen by a board of directors featuring Lead Independent Director Judy A. Schmeling, formerly of HSN, Inc. Publicly traded on the Nasdaq, Casey’s maintains a robust institutional investor base, with significant positions held by major firms such as Vanguard and BlackRock, reflecting strong market confidence in its resilient, food-forward business model.