Caseys General Stores delivered a strong top-line quarter in Q3 FY2025, reflecting 17.3% year-over-year revenue growth to $3.903 billion driven by both inside sales and fuel gallons sold, and a broad store count expansion that contributed to volume gains. EBITDA rose 11% year over year to $242.4 million, underscoring operating discipline and stronger store penetration despite a challenging margin mix from the recent CEFCO integration and a transient fuel-price headwind. Net income was flat at $87.1 million, with diluted EPS at $2.33 and basic EPS at $2.35, reflecting the large-scale Fikes acquisition completed in the period and related one-time integration costs. Management reiterated a disciplined three-year plan focused on accelerating the food business, accelerating unit growth, and improving operating efficiency, with FY2025 EBITDA guidance raised to about an 11% increase and capex forecast around $500 million. The Fikes merger remains a meaningful catalyst for growth but introduces near-term margin dilution and higher depreciation and interest costs; synergies are expected to total roughly $45 million over three to four years, with approximately 40% of savings from food-related initiatives. The company also signaled continued testing (e.g., Des Moines wings, coffee program) and ongoing private-label tiering as operating levers. While February weather created a temporary pullback in same-store sales, March activity appears to be normalizing, suggesting weather-driven volatility rather than a fundamental demand pullback. The liquidity position remains robust, with roughly $1.3 billion of available liquidity and a net debt-to-EBITDA around 2.1x, keeping CASY on track to reach its targeted leverage near 2x by year-end.