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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. (Nasdaq: ARKO) is set to host a fireside chat at the 2022 ICR Conference on January 11, 2022, at 8:00 am ET, moderated by Goldman Sachs’ Bonnie Herzog. The session will be available via live webcast, with a replay accessible for 30 days following the event. ARKO, a leading U.S. convenience store operator, owns GPM Investments, LLC and operates in three segments: retail, wholesale, and GPM Petroleum. The company provides a range of products, including fuel, prepared foods, and beverages, and runs a loyalty program that offers exclusive savings.
ARKO Corp. (Nasdaq: ARKO) has appointed Ross Parman as Vice President of Investor Relations and Government Affairs, enhancing its leadership as it marks its first year as a public company in the U.S. Parman, formerly Director of Communications at Altria, brings extensive experience in managing communications in highly-regulated industries. Chairman Arie Kotler praised Parman's leadership skills, emphasizing his importance in developing relationships with investors and analysts. ARKO, the 6th largest convenience store chain, operates approximately 3,100 locations across the U.S.
ARKO Corp. (Nasdaq: ARKO), the 6th largest convenience store chain in the U.S., has completed its latest remodeled store in Rock Hill, SC, marking the third renovation this year. The 5,660 sq. ft. Scotchman® store features a comprehensive raze and rebuild with enhancements including new interior and exterior designs, expanded beverage and food assortments, and a dedicated truck stop. As part of a broader initiative, ARKO plans to remodel 360 of its 1,415 stores, investing $360 million to improve customer experiences while retaining local branding.
ARKO Corp. has announced a strategic partnership with Sbarro to open four new restaurants within Village Pantry locations in the Midwest. The initial two stores are set to launch in December 2021, followed by two more in early 2022. This partnership aims to enhance customer experience by offering popular New York-style pizzas and other menu items. GPM Investments, a subsidiary of ARKO, continues to innovate its food service offerings in response to changing consumer behaviors. The first store will celebrate its opening on December 6, 2021, in Connersville, Indiana.
ARKO Corp. (Nasdaq: ARKO) is set to present at the Stephens Annual Investment Conference on November 29, 2021, at 10:00 am ET. The event will be available via live webcast on the company’s website with a 90-day replay option. ARKO is a prominent player in the U.S. convenience store market, owning GPM Investments, LLC, which operates around 3,100 locations across 33 states. The company offers a range of products including fuel, beverages, and snacks. More details about ARKO can be found at their corporate website.
ARKO Corp. reported strong third-quarter results with merchandise revenue of $434.7 million and a net income of $35.6 million, marking a 107.4% increase year-over-year. Adjusted EBITDA rose 39.9% to $80.2 million. Same-store merchandise sales excluding cigarettes increased 1.8% and 8.7% on a two-year stack. The company signed 70 dealer supply agreements in the quarter and completed the acquisition of 36 convenience stores in North Carolina. Liquidity stands at $551 million, with $689.6 million in outstanding debt.
ARKO Corp. (Nasdaq: ARKO) has successfully closed the acquisition of the Handy Mart chain, adding 36 convenience stores with gas in North Carolina and a development parcel. This move complements GPM Investments' existing network, bringing its total locations to approximately 3,100. With Handy Mart's strong regional brand, ARKO aims to enhance its presence in the Carolinas. The acquisition marks ARKO's 20th since 2013, showcasing its aggressive growth strategy in the convenience store sector.
ARKO Corp. (Nasdaq: ARKO) announced it will report its Q3 2021 results on November 10, 2021, before market open. The company will hold a conference call at 10:00 a.m. ET to discuss these results. Interested investors can participate by calling 877-605-1792 or 201-689-8728. A replay will be available until November 24, 2021. ARKO owns GPM Investments, the 6th largest convenience store chain in the U.S., with approximately 3,000 locations across 33 states and D.C. The company operates in retail, wholesale, and GPM Petroleum segments.
ARKO Corp. (Nasdaq: ARKO) announced the pricing of a private offering for $450 million in 5.125% Senior Unsecured Notes due 2029. The funds will be utilized to fully repay its credit facility with Ares Capital, other existing senior secured debts, and for general corporate purposes. The closing of this offering is expected around October 21, 2021. The Notes are being offered only to qualified institutional buyers and certain non-U.S. entities. This offering is not registered under the Securities Act and does not constitute an offer to sell or solicit any securities.
ARKO Corp. (Nasdaq: ARKO) has initiated a private offering of $450 million in Senior Unsecured Notes due 2029. The funds will primarily be used to repay the outstanding balance under its credit facility with Ares Capital Corporation and other senior secured debts. The notes will not be registered under the Securities Act and are offered only to qualified institutional buyers. ARKO operates the GPM convenience store chain, which has expanded to about 3,000 locations across 33 states.
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