NEWS RELEASE FOR IMMEDIATE RELEASE

Casey's General Stores, Inc. One Convenience Blvd. Ankeny, IA 50021

Nasdaq Symbol CASY CONTACT Bill Walljasper (515) 965-6505

Casey's Posts Strong Revenue Growth for Fiscal 2014 Ankeny, IA, June 9, 2014-Casey's General Stores, Inc. (Nasdaq symbol CASY) today reported diluted earnings per share of $0.59 for the fourth quarter of fiscal year ended April 30, 2014 compared to $0.60 for the same period a year ago. For the year, diluted earnings per share were

$3.46 versus $2.86 for the same period last year. "Inside sales were up over 13% for the fiscal year, and total fuel gallons sold increased by over 8%," said Chairman and CEO Robert J. Myers. "We were able to add new stores and acquisitions in a disciplined manner while at the same time enhance the performance of our existing store base."

Fuel-The Company's annual goal for fiscal 2014 was to increase same-store gallons sold 1.5% with an average margin of 15 cents per gallon. Annual same-store gallons sold were up 3.1% with an average margin of 16.8 cents per gallon. For the quarter, same-store gallons rose 1.8% with an average margin of 13.8 cents per gallon. The Company sold 12.1 million renewable fuel credits for

$5.7 million in the fourth quarter. "Fuel margins tightened in the fourth quarter primarily due to less volatility of wholesale costs," said Myers. "The fuel saver program provided a boost to same- store gallons for both the fourth quarter and the year." For fiscal 2014, total gallons sold were up
8.5% to 1.7 billion, while gross profit dollars rose 20% to $280.1 million.

Grocery and Other Merchandise-Casey's fiscal 2014 goal was to increase same-store sales 5% with an average margin of 32.3%. For the year, same-store sales were up 7.4% with an average margin of 32.1%. For the quarter, same-store sales were up 7.2% with an average margin of 32.1%. "Sales throughout the entire category performed well during the fourth quarter despite the unseasonably cold weather," stated Myers. "Although cigarettes pressured margin in this category throughout the year, we believe the competitive environment has stabilized resulting in a slight improvement in cigarette profitability in the fourth quarter." For fiscal 2014, total sales were up

11.6% to $1.6 billion, while gross profit dollars rose 9.8% to $507.9 million.

Prepared Food and Fountain-Casey's annual goal was to increase same-store sales 9% with an average margin of 62%. For the year, same-store sales were up 11.8% with an average margin of

61.1%. Same-store sales for the fourth quarter increased 12.1% with an average margin of 60.1%. "Even though rising cheese and meat costs adversely impacted the margin, we were still able to grow gross profit dollars by over 16% in the fourth quarter compared to the same period last year," said Myers. "Our sales continue to benefit from expanding operations to 24-hours a day, adding pizza delivery, and completing major remodels. We also implemented strategic price increases at the start of fiscal 2015 to partially offset rising input costs." For fiscal 2014, total sales were up
16.7% to $659.2 million, while gross profit dollars rose 15.5% to $403 million.

Operating Expenses-For the fiscal year, operating expenses increased 12.7% to $857.3 million. For the fourth quarter, operating expenses were up 10.0%. "Both the annual and quarter expenses were up primarily due to new, acquired and replaced stores, along with the various operating initiatives that have been implemented in existing stores," stated Myers. Expansion-The annual goal was to build or acquire 70 to 105 (4-6%) stores and replace 20 existing locations. For the fiscal year, the Company built 44 new stores, acquired 28 stores, and

also completed 20 replacements as well as 25 major remodels. "We continue to execute our prudent growth strategy of blending new store growth with acquisitions, and reached a milestone in the fourth quarter as we now operate over 1,800 stores," said Myers. "Casey's is off to a great start to fiscal 2015 as we completed the 24-store Stop-n-Go acquisition in May." The Company currently has 27 new stores and 23 replacement stores under construction, as well as 38 new sites, 28 replacement sites, and 5 acquisition stores under contract to purchase. The Company recently announced plans to build a second distribution center in Terre Haute, Indiana to facilitate store growth as well as provide a more efficient distribution system to the existing chain.

Fiscal 2015 Goals-The corporate performance goals for fiscal 2015 are as follows:

• Increase same-store fuel gallons sold 1% with an average margin of 15.3 cents per gallon
• Increase same-store grocery & other merchandise sales 5.3% with an average margin of
32.1%
• Increase same-store prepared food & fountain sales 9.5% with an average margin of 60%
• Build or acquire 72 to 108 stores and replace 25 existing locations
Dividend-At its June meeting, the Board of Directors increased the quarterly dividend to $0.20 per share. The dividend is payable August 15th to shareholders of record on August 1st, 2014.

Casey's General Stores, Inc.

Condensed Consolidated

Statements of Income

(Dollars in thousands, except share and per share amounts) (Unaudited)

Three months ended April 30, Year ended April 30,



2014 2013 2014 2013

Total revenue $ 1,919,566 $ 1,808,529 $ 7,840,255 $ 7,250,840

Cost of goods sold (exclusive of depreciation and amortization,



shown separately below) 1,632,991 1,542,137 6,605,996 6,168,475

Gross profit 286,575 266,392 1,234,259 1,082,365

Operating expenses 210,123 191,054 857,297 760,365

Depreciation and amortization 35,556 29,910 131,160 111,823



Interest, net 10,119 8,743 39,270 35,048

Income before income taxes 30,777 36,685 206,532 175,129



Federal and state income taxes 7,961 13,413 72,018 64,504

Net Income $ 22,816 $ 23,272 $ 134,514 $ 110,625



Net income per common share

Basic $ .59 $ .61 $ 3.50 $ 2.89



Diluted $ .59 $ .60 $ 3.46 $ 2.86

Basic weighted average shares 38,499 38,342 38,458 38,297



Plus effect of stock compensation 425 353 410 323



Diluted weighted average shares 38,924 38,695 38,868 38,620

Casey's General Stores, Inc. Condensed Consolidated Balance Sheets (Dollars in thousands)

(Unaudited)

Assets

Current assets

April 30, April 30,


2014 2013

Cash and cash equivalents $ 121,641 $ 41,271

Receivables 25,841 20,900

Inventories 204,833 189,514

Prepaid expenses 1,478 1,396

Deferred income taxes 11,878 9,916


Income tax receivable 12,473 9,820

Total current assets 378,144 272,817

Other assets, net of amortization 15,947 14,485

Goodwill 120,406 114,791

Property and equipment, net of

accumulated depreciation of $1,062,278 at


April 30, 2014, and of $952,286 at April 30, 2013 1,778,965 1,581,925

Total assets $ 2,293,462 $ 1,984,018

Liabilities and Shareholders' Equity

Current liabilities

Notes payable to bank $ -------- $ 59,100

Current maturities of long-term debt 553 15,810

Accounts payable 250,807 232,913


Accrued expenses 111,583 89,925

Total current liabilities 362,943 397,748

Long-term debt, net of current maturities 853,642 653,081

Deferred income taxes 317,953 293,708

Deferred compensation 16,558 15,787


Other long-term liabilities 22,500 21,399


Total liabilities 1,573,596 1,381,723

Total shareholders' equity 719,866 602,295



Total liabilities and shareholders' equity $ 2,293,462 $ 1,984,018

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)

Three months ended 04/30/14

Fuel

Grocery & Other

Merchandise

Prepared Food

& Fountain

Other

Total

Sales

$ 1,366,951

$ 378,251

$ 162,977

$ 11,387

$1,919,566

Gross profit

$ 55,891

$ 121,388

$ 97,924

$ 11,372

$ 286,575

Margin

4.1%

32.1%

60.1%

99.9%

14.9%

Fuel gallons

403,767

Three months ended 04/30/13

Sales

$ 1,319,371

$ 340,263

$ 138,642

$ 10,253

$1,808,529

Gross profit

$ 64,287

$ 107,963

$ 83,902

$ 10,240

$ 266,392

Margin

4.9%

31.7%

60.5%

99.9%

14.7%

Fuel gallons

378,062

Sales and Gross Profit by Product (Amounts in thousands)

Year ended 04/30/14

Fuel

Grocery & Other

Merchandise

Prepared Food

& Fountain

Other

Total

Sales

$ 5,554,580

$ 1,583,234

$ 659,176

$ 43,265

$7,840,255

Gross profit

$ 280,115

$ 507,936

$ 402,996

$ 43,212

$1,234,259

Margin

5.0%

32.1%

61.1%

99.9%

15.7%

Fuel gallons

1,665,600

Year ended 04/30/13

Sales

$ 5,229,157

$ 1,418,711

$ 564,924

$ 38,048

$7,250,840

Gross profit

$ 232,718

$ 462,663

$ 348,993

$ 37,991

$1,082,365

Margin

4.5%

32.6%

61.8%

99.9%

14.9%

Fuel gallons

1,535,140



Fuel Gallons Fuel Margin

Same-store Sales Growth (Cents per gallon, excluding credit card fees)

Q1Q2Q3Q4FYQ1Q2Q3Q4FYF2014 3.2% 4.2% 3.8% 1.8% 3.1% F2014 22.1¢ 16.7¢ 14.4¢ 13.8¢ 16.8¢ F2013 -0.2 -0.4 0.6 1.0 0.1 F2013 14.9 14.9 13.8 17.0 15.2

F2012 -2.7 -2.9 -2.4 2.5 -1.5 F2012 17.2 16.7 13.6 13.7 15.3


Grocery & Other Merchandise Grocery & Other Merchandise

Same-store Sales Growth Margin

Q1Q2Q3Q4FYQ1Q2Q3Q4FYF2014 6.1% 10.2% 6.5% 7.2% 7.4% F2014 32.7% 32.3% 31.1% 32.1% 32.1% F2013 2.6 -0.7 3.2 -0.2 0.8 F2013 33.4 33.4 31.7 31.7 32.6

F2012 6.2 5.8 6.3 8.5 6.7 F2012 32.5 32.5 31.8 33.0 32.5


Prepared Food & Fountain Prepared Food & Fountain

Same-store Sales Growth Margin

Q1Q2Q3Q4FYQ1Q2Q3Q4FYF2014 11.9% 12.3% 10.7% 12.1% 11.8% F2014 61.8% 61.8% 60.8% 60.1% 61.1% F2013 10.6 10.1 11.6 4.4 8.6 F2013 63.5 62.5 60.6 60.5 61.8

F2012 15.3 14.2 12.6 16.8 14.3 F2012 61.2 59.5 61.2 60.8 60.7

Corporate information is available at this Web site: http://www.caseys.com. Earnings will be reported during a conference call on June 10, 2014. 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.

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