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ARKO Corp. (Nasdaq: ARKO) is a Fortune 500 company that owns 100% of GPM Investments, LLC, and stands as one of the largest operators of convenience stores and fuel wholesalers in the United States. Based in Richmond, VA, ARKO Corp. operates under a family of recognizable community brands, offering a wide range of products including prepared foods, snacks, candy, beverages, and popular quick-serve restaurant brands. The company also features the high-value fas REWARDS® loyalty program, which provides exclusive savings on merchandise and fuel.
ARKO Corp. operates in four primary segments: Retail, which includes convenience stores selling merchandise and fuel; Wholesale, which supplies fuel to independent dealers and consignment agents; GPM Petroleum, responsible for selling and supplying fuel while charging a fixed fee, mainly to fleet fueling sites; and Fleet Fueling, which includes the operation of proprietary and third-party cardlock locations and issues proprietary fuel cards that offer access to a network of fueling sites.
Recently, ARKO announced its financial results for the fourth quarter and full year of 2023. Over the past three years, the company has significantly expanded its geographic footprint through acquisitions, delivering approximately $166 million in net income and about $850 million in cumulative adjusted EBITDA. For the full year of 2023, ARKO reported $290.4 million in adjusted EBITDA, holding the performance within 3.5% of 2022 levels despite a 3.4% decline in national fuel gallon demand.
Notable highlights from the year include a 2.5% increase in same store merchandise sales excluding cigarettes and an overall increase of 16.7% in total merchandise contribution. The company's focus on improving customer experience and store productivity remains central to its growth strategy. ARKO also announced a new investor day planned for later in the year to reveal its multi-year roadmap for enhancing organic performance and driving shareholder value.
Furthermore, ARKO continues to invest in its loyalty program and its core destination categories. The company’s fas REWARDS® loyalty program has been a pivotal part of its strategy, offering customers significant savings and exceptional value.
As of the end of 2023, ARKO had a total liquidity of approximately $831 million. The company's capital expenditures for the year were around $111.2 million, which include purchases of properties, upgrades to fuel dispensers, and other store investments. Additionally, ARKO has amended its program agreement with Oak Street, extending the term and increasing the capacity to $1.5 billion, allowing for further strategic investments.
Looking ahead, ARKO aims to focus more on organic growth and will continue leveraging its significant acquisitions to enhance its market presence and operational efficiency.
ARKO Corp. has announced the acquisition of Pride Convenience Holdings, which operates 31 convenience stores in Massachusetts, expanding ARKO's presence to 34 states. The deal, valued at approximately $230 million plus inventory, is expected to enhance ARKO’s operational capabilities and profitability, with an anticipated $12.2 million in Adjusted EBITDA annually. This acquisition is part of ARKO's growth strategy to increase its footprint and cash flow, as it currently operates over 1,388 stores across the U.S.
ARKO Corp. has announced an agreement to acquire approximately 350 wholesale and retail sites, enhancing its presence in Alabama and Mississippi. This $375 million deal, including deferred payments, aims to increase fuel sales by 285 million gallons annually. The acquisition is expected to generate an annualized Adjusted EBITDA of $18 million, reaching $27 million including synergies. The transaction is part of ARKO's growth strategy and is contingent on closing conditions. This expansion will increase ARKO’s total store count to over 1,530.
ARKO Corp. reported strong financial results for Q2 2022, with net income of $31.8 million, up 24.4% year-over-year. Adjusted EBITDA rose to $79.0 million, a 4.4% increase from Q2 2021. Operating income increased 5.5% to $48.3 million, while merchandise revenue grew to $431.8 million, up 1.0% from the previous year. The company repurchased approximately 3.1 million shares at an average price of $8.65. However, operating expenses surged 15.1%, largely due to acquisitions and rising credit card fees. A restructuring plan will incur a one-time tax expense of around $8.5 million.
ARKO Corp. (Nasdaq: ARKO) announced it will report its Q2 results on August 8, 2022, after market close. A conference call is scheduled for August 9, 2022, at 10:00 a.m. ET, where analysts will discuss the financial results. Investors can access the call via phone or a live webcast available on the company’s website. ARKO operates convenience stores and fuel wholesalers in the U.S. and has a diverse range of products, including prepared foods, beverages, and a loyalty program offering savings.
ARKO Corp. (NASDAQ: ARKO) announced the acquisition of several assets from Quarles Petroleum, including 121 cardlock sites and management of 63 third-party locations. This strategic move supports ARKO's growth strategy, expected to add $17.5 million in adjusted EBITDA annually. The acquisition enhances ARKO's fuel services and is projected to increase annual sales by approximately 160 million gallons, mainly diesel. Nearly 100 employees from Quarles will join ARKO, emphasizing the company's commitment to expansion and customer service.
ARKO Corp. has achieved a significant milestone by making its debut on the 2022 Fortune 500 list, ranking No. 498. This recognition highlights the company's effective growth strategy and disciplined investment approach since joining NASDAQ two years ago. With over 3,000 locations and a commitment to expansion through mergers and acquisitions, ARKO has executed 21 acquisitions since 2013, growing from 300 stores to a substantial presence as a leading convenience store and fuel wholesaler in the U.S.
ARKO Corp. reported strong financial results for Q1 2022, with net income rising by $17 million to $2.3 million, compared to a loss in Q1 2021. Operating income increased 46% to $19.3 million, and Adjusted EBITDA grew 18.4% to $50.1 million. Merchandise revenue reached $367 million, with a contribution of $108.2 million, marking a 10% increase. Retail fuel gallons sold rose 5.9%, while fuel margins improved by 16.8%. The company maintains strong liquidity of approximately $744 million and declared a quarterly dividend of $0.02 per share.
ARKO Corp. (Nasdaq: ARKO) announced its Q1 financial results will be reported on May 4, 2022, before the market opens. A conference call is scheduled for 10:00 a.m. ET the same day, allowing investors to discuss the results directly. Participants can join via phone or webcast, with replays available after the call. ARKO Corp. operates GPM Investments, one of the largest convenience store operators in the U.S., with a focus on fuel and retail sales through its various segments.
ARKO Corp. has extended its $1 billion agreement with Oak Street Real Estate Capital for another year, increasing total available funds to $1.15 billion. This agreement allows Oak Street to purchase and lease real estate, including a recent $130 million acquisition of Quarles Petroleum assets. With 1,406 convenience stores and a growing portfolio, ARKO continues its strategic acquisition model, marking its 21st acquisition in 2022. The company emphasizes strong partnerships and flexibility in deal-making, enhancing its market position and operational growth.
GPM Investments is collaborating with the JDC to raise $2 million to assist with the humanitarian crisis in Ukraine. From April 11 to June 12, 2022, GPM locations will sell donation pinups to contribute, with all proceeds matched up to $1 million by a donor. Funds will provide urgent support like food and medical care for refugees. The initiative highlights GPM’s commitment to immediate action amid the ongoing war in Ukraine, with a focus on delivering long-term medical solutions and aid to those in need.
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