Jim Cramer Flags Casey’s (CASY) as a Warning Sign for Consumer Spending

Jim Cramer highlighted Casey's General Stores (CASY) as a warning sign for declining consumer spending on September 9 during his Mad Money show. He pointed out that the Strategic Petroleum Reserve had dropped by 31% to 286 million barrels since the war began, raising concerns about rising gas prices and their impact on the economy.

Cramer noted that Casey's reported strong earnings, including a 24.3% year-over-year revenue increase and a 27.7% rise in diluted EPS, but emphasized that same-store sales growth slowed from 5.5% to 3.2%. The company's fuel gross profit increased by 19.6% to $446.9 million, with fuel margin rising to 47.8 cents per gallon. Despite selling fewer same-store gallons, Casey's generated higher fuel profits.

The company maintained its fiscal 2027 outlook, including 2% to 5% inside same-store sales growth and EBITDA growth of 8% to 10%. Insider Monkey reported that 48 hedge funds held Casey's in the second quarter of 2026, with Marshall Wace LLP as the top shareholder. However, the decline in inside same-store sales has raised concerns about the impact of high fuel prices on the service economy.