Business
ARKO Petroleum Corp. Reports First Quarter 2026 Results
RICHMOND, Va., May 11, 2026 (GLOBE NEWSWIRE) -- ARKO Petroleum Corp. (Nasdaq: APC) (“APC” or the “Company”), one of the largest wholesale fuel distributors in
About this update from Arko Petroleum Corp.
[{"type":"text","content":"RICHMOND, Va., May 11, 2026 (GLOBE NEWSWIRE) -- ARKO Petroleum Corp. (Nasdaq: APC) (“APC” or the “Company”), one of the largest wholesale fuel distributors in the United States, today announced financial results for the first quarter ended March 31, 2026. First Quarter 2026 Key Highlights (vs. Year-Ago Period) 1,2 Net income for the quarter increased to $8.1 million compared to $4.5 million.Adjusted EBITDA for the quarter increased to $36.4 million compared to $30.9 million.Net cash provided by operating activities for the quarter was $6.6 million compared to $14.9 million.Discretionary Cash Flow for the quarter was $25.0 million compared to $17.1 million.Total debt, net was $184.5 million and Net Debt was $313.5 million, in each case, as of March 31, 2026. Other Key Highlights The Company completed its initial public offering of 12,570,223 shares of its Class A common stock at a price to the public of $18.00 per share (the “IPO”) including the exercise by the underwriters of their overallotment option, representing an aggregate of 26.4% of the economic interests in the Company. The Company applied $206.7 million of proceeds from the IPO to reduce debt during the quarter and strengthened an already conservative balance sheet, creating further financial flexibility for the Company.As part of the ongoing transformation plan of the Company's controlling stockholder, ARKO Corp. (Nasdaq: ARKO) (\"ARKO\"), 41 ARKO retail convenience stores that sell fuel (\"ARKO Retail Sites\") were converted to dealer locations in the Company's wholesale segment during the first quarter of 2026, bringing total conversions since program inception in 2024 to 450 sites. ARKO has approximately 75 additional sites committed either under letter of intent, under contract or already converted since quarter end. The Company expects to complete these conversions, along with additional conversions, by the end of 2026.The Company continues to target 20 new-to-industry fleet fueling locations with openings in 2026, with one opened in March 2026, and 17 of which are in process, reflecting the attractive, durable cash flow profile of its fleet fueling business. “We are excited to share that APC delivered strong year-over-year growth, in its first quarter as a public company, continuing on the momentum we built through the end of 2025,” said Arie Kotler, Chairman, P...