ARKO Petroleum Corp. Reports Third Quarter 2026 Results, Raises Full Year 2026 Guidance and Declares Quarterly Dividend
ARKO Petroleum Corp. (APC) filed an SEC Form 8-K — Results of Operations and Financial Condition. Exhibit 99.1 ARKO Petroleum Corp. Reports Third Quarter 2026 Results, Raises Full Year 2026 Guidance and Declares Quarterly Dividend ARKO Petroleum Corp. (Nasdaq: APC) (“APC” or the “Company”), one of the largest fuel wholesalers in North America, today announced financial result
How this was made
The 30-second read
Why it matters
The raised guidance and dividend declaration provide fresh, material information that can influence investor positioning.
Market read
Primary disclosure of earnings and guidance for a listed micro‑cap; relevance is moderate due to size but high novelty.
What to watch
Integration risk of the USPP acquisition and potential volatility in fuel margins.
ARKO Petroleum Corp. Reports Third Quarter 2026 Results, Raises Full Year 2026 Guidance and Declares Quarterly Dividend
Third-quarter net income, Adjusted EBITDA, Discretionary Cash Flow and all three reported segment operating-income lines increased from the year-ago period, while the Company raised full-year Adjusted EBITDA guidance. Operating cash flow declined, wholesale and proprietary-cardlock volumes declined, and the USPP acquisition remains expected to close during the fourth quarter of fiscal year 2026.
Key metrics
shortened, hover for the filing’s print| Metric | Value | q/q | y/y |
|---|---|---|---|
| Total revenues, three months ended September 30, 2026GAAP | $1.89B | – | – |
| Fuel revenue, three months ended September 30, 2026GAAP | $1.15B | – | – |
| Fuel revenue – related party, three months ended September 30, 2026GAAP | $718.4M | – | 18.0% |
| Other revenues, net, three months ended September 30, 2026GAAP | $20.35M | – | – |
| Total operating expenses, three months ended September 30, 2026GAAP | $1.86B | – | – |
| Operating income, three months ended September 30, 2026GAAP | $25.23M | – | – |
| Income before income taxes, three months ended September 30, 2026GAAP | $17.83M | – | – |
| Income tax expense, three months ended September 30, 2026GAAP | $4.49M | – | – |
| Net income, three months ended September 30, 2026GAAP | $13.34M | – | – |
| Net income per share – basic, three months ended September 30, 2026GAAP | $ 0.28 | – | – |
| Net income per share – diluted, three months ended September 30, 2026GAAP | $ 0.28 | – | – |
| EBITDA, three months ended September 30, 2026non-GAAP | $40.15M | – | – |
| Adjusted EBITDA, three months ended September 30, 2026non-GAAP | $40.95M | – | – |
| Net cash provided by operating activities, three months ended September 30, 2026GAAP | $21.59M | – | – |
| Purchase of property and equipment, three months ended September 30, 2026GAAP | −$11.32M | – | – |
| Discretionary Cash Flow, three months ended September 30, 2026non-GAAP | $32.31M | – | – |
| Total revenues, nine months ended September 30, 2026GAAP | $5.07B | – | – |
| Operating income, nine months ended September 30, 2026GAAP | $68.86M | – | – |
| Net income, nine months ended September 30, 2026GAAP | $33.66M | – | – |
| Net income per share – diluted, nine months ended September 30, 2026GAAP | $ 0.74 | – | – |
| Adjusted EBITDA, nine months ended September 30, 2026non-GAAP | $117.1M | – | – |
| Net cash provided by operating activities, nine months ended September 30, 2026GAAP | $38.57M | – | – |
| Discretionary Cash Flow, nine months ended September 30, 2026non-GAAP | $84.40M | – | – |
| Cash and cash equivalents, as of September 30, 2026GAAP | $10.11M | – | – |
| Total debt, net, as of September 30, 2026other | $188.9M | – | – |
| Net Debt, as of September 30, 2026non-GAAP | $338.4M | – | – |
| Ratio of Net Debt to Adjusted EBITDA, as of September 30, 2026non-GAAP | 2.2 x | – | – |
Segments
| Segment | Revenue | q/q | y/y |
|---|---|---|---|
| Wholesale Segment, three months ended September 30, 2026Wholesale operating income increased by $1.7 million primarily from additional operating income from ARKO Retail Sites converted to dealer locations, partially offset by reduced operating income at comparable wholesale sites. | $975.2M | – | – |
| Fleet Fueling Segment, three months ended September 30, 2026Fuel contribution increased by $0.9 million, primarily from significant volatility in the fuel market due to the geopolitical environment. | $186.4M | – | – |
| GPMP Segment, three months ended September 30, 2026Fuel revenue – related party increased by $109.4 million, or 18.0%, primarily from a higher average fuel price, partially offset by a 32.4 million, or 14.5%, decrease in gallons sold. | $1.80B | – | – |
Amounts quoted below without a unit are in thousands, as in the filing’s tables. Per-share figures are as printed.
full year 2026 outlook
- NoteAdjusted EBITDA: $156 million to $157 million
Capital returns
- Quarterly dividend of $0.50 per share of common stock to be paid on November 30, 2026 to stockholders of record as of November 18, 2026.
- Expected annual dividend rate of $2.00 per share.
- Dividends paid on common stock: $ (23,785 ) (in thousands) for the three months ended September 30, 2026.
- Dividends paid on common stock: $ (36,153 ) (in thousands) for the nine months ended September 30, 2026.
What drove it
- Seventeen ARKO Parent retail convenience stores were converted to dealer locations during the third quarter of 2026, bringing total conversions since program inception in 2024 to 488 sites.
- Fuel contribution at wholesale fuel supply locations increased by $1.4 million, primarily due to $1.5 million of incremental contribution from ARKO Retail Sites converted to dealer locations.
- Fuel contribution at wholesale consignment agent locations increased $0.3 million, primarily due to $0.4 million of incremental contribution from ARKO Retail Sites converted to dealer locations.
- Fuel margin per gallon increased 0.9 cents per gallon at wholesale fuel supply locations and 2.8 cents per gallon at consignment agent locations, primarily due to increased prompt pay discounts related to higher fuel costs.
- Fleet Fueling fuel-contribution increases primarily resulted from significant volatility in the fuel market due to the geopolitical environment.
- The Company opened five new fleet fueling locations in the first nine months of 2026, and two locations were added in October 2026.
Concerns
- Fuel gallons sold at wholesale fuel supply locations were 211,648 for the three months ended September 30, 2026, compared to 220,220.
- Fuel gallons sold at proprietary cardlock locations were 32,619 for the three months ended September 30, 2026, compared to 33,124.
- GPMP related-party gallons sold were 191,439 for the three months ended September 30, 2026, compared to 223,815; the Company cited the challenging macroeconomic environment and retail-site conversions.
- Net cash provided by operating activities was $ 21,585 (in thousands) for the third quarter, compared to $ 25,022 (in thousands).
- The USPP acquisition is expected to close during the fourth quarter of fiscal year 2026 and is subject to closing execution and integration risks described by the Company.
What to watch
- Closing of the USPP transaction, expected during the fourth quarter of fiscal year 2026.
- USPP consideration at closing of $205 million in cash plus the value of inventory at closing, and issuance of $30 million in APC Class A common stock to be held in escrow.
- USPP's expected approximately 280 million gallons of annual fuel volume and approximately $30 million of annualized Adjusted EBITDA.
- Execution of additional ARKO Parent retail-site conversions. ARKO Parent has approximately 55 additional sites committed under letter of intent, under contract or already converted since quarter end.
- Fleet fueling development, with an additional 16 locations in various stages of planning and development.
- Delivery against full-year 2026 Adjusted EBITDA guidance of $156 million to $157 million.
Balance sheet and cash flow
- Total liquidity was approximately $715 million as of September 30, 2026, consisting of approximately $10 million of cash and cash equivalents and approximately $705 million of availability under the Company's lines of credit.
- Cash and cash equivalents: $ 10,109 (in thousands) as of September 30, 2026, compared to $ 15,556 (in thousands) as of December 31, 2025.
- Total debt, net: $ 188,881 (in thousands) as of September 30, 2026, compared to $ 392,030 (in thousands) as of December 31, 2025.
- Net Debt: $ 338,438 (in thousands) as of September 30, 2026, compared to $ 526,572 (in thousands) as of December 31, 2025.
- Net cash provided by operating activities: $ 21,585 (in thousands) for the three months ended September 30, 2026, compared to $ 25,022 (in thousands).
- Maintenance capital expenditures were $2.1 million and growth capital expenditures were $9.5 million for the quarter ended September 30, 2026.
- Purchase of property and equipment: $ (25,956 ) (in thousands) for the nine months ended September 30, 2026, compared to $ (16,978 ) (in thousands).
Analysis
APC reported higher third-quarter earnings and non-GAAP cash generation. Net income was $ 13,339 (in thousands), compared with $ 10,100 (in thousands), while Adjusted EBITDA was $ 40,953 (in thousands), compared with $ 37,448 (in thousands). Consolidated total revenues were $ 1,888,800 (in thousands), compared with $ 1,484,189 (in thousands), and operating income was $ 25,230 (in thousands), compared with $ 24,569 (in thousands). The Company raised full-year 2026 Adjusted EBITDA guidance to $156 million to $157 million.
Wholesale results benefited from dealerization of ARKO Parent sites. Seventeen retail convenience stores were converted to dealer locations during the quarter, bringing cumulative conversions to 488 since 2024. Wholesale operating income increased by $1.7 million, primarily from converted-site income, although comparable wholesale sites had reduced operating income. Wholesale fuel-supply gallons were 211,648 versus 220,220, while fuel contribution at fuel-supply locations increased to $ 15,279 (in thousands) from $ 13,917 (in thousands) and margin increased to 7.2 cents per gallon from 6.3 cents per gallon.
Fleet Fueling also produced greater fuel contribution despite lower proprietary-cardlock volume. Proprietary-cardlock fuel contribution was $ 16,837 (in thousands), compared with $ 16,209 (in thousands), while fuel margin was 51.6 cents per gallon, compared with 48.9 cents per gallon. GPMP related-party revenue increased by $109.4 million, or 18.0%, due primarily to higher average fuel prices, but related-party gallons declined by 32.4 million, or 14.5%, as the Company cited a challenging macroeconomic environment and the effect of dealer conversions.
Cash conversion was mixed. Net cash provided by operating activities declined to $ 21,585 (in thousands) from $ 25,022 (in thousands), whereas Discretionary Cash Flow increased to $ 32,306 (in thousands) from $ 26,485 (in thousands). The Company reported $ 10,109 (in thousands) of cash and cash equivalents, $ 188,881 (in thousands) of total debt, net, and $ 338,438 (in thousands) of Net Debt as of September 30, 2026. It declared a $0.50 per-share quarterly dividend and reported maintenance capital expenditures of $2.1 million and growth capital expenditures of $9.5 million.
The central strategic item is the pending USPP acquisition, expected to close during the fourth quarter of fiscal year 2026. The Company expects the acquired business to add approximately 280 million gallons of annual fuel volume and contribute approximately $30 million of annualized Adjusted EBITDA. Closing consideration includes $205 million in cash plus inventory value and $30 million of APC Class A common stock subject to escrow conditions. The raised Adjusted EBITDA guide explicitly reflects year-to-date performance, the outlook for the balance of the year and the expected USPP closing.
Management, verbatim
APC’s third-quarter results reinforce the strategy we outlined at the IPO. Adjusted EBITDA and Discretionary Cash Flow grew year over year, which we believe demonstrated the durability of our platform, the stability of its cash generation and our team’s ability to execute effectively through a volatile market environment. Based on year-to-date performance, our outlook for the balance of the year and the expected closing of USPP, we are raising our full-year 2026 Adjusted EBITDA guidance.
Arie Kotler, Chairman, President and Chief Executive Officer of APC
Not in the filing
stated, not guessed- Previous-period outlook was not provided; therefore, no comparison of actual results with prior guidance is available.
- GAAP gross profit and gross margin were not reported.
- Non-GAAP EPS was not reported.
- Free cash flow was not reported.
- Revenue, gross-margin, operating-expense and tax-rate guidance were not reported.
- Prior-quarter values and sequential changes were not reported for the reported financial metrics.
- Share repurchases were not reported.
- A GAAP reconciliation for full-year 2026 Adjusted EBITDA guidance was not provided because the Company cited unavailable inputs without unreasonable efforts.
Written by an AI language model from the company’s SEC earnings filing (Form 8-K Item 2.02, or Form 6-K for a foreign private issuer). Every figure is checked against the filing text, and a metric the filing does not print, or whose value, prior period and change do not add up, is dropped from the metrics. The model can still misread a table, in the metrics or in the text, so check a number in the filing before you rely on it. Consensus estimates, price targets and share-price reactions are not shown because they are not in the filing. AI-generated research, not investment advice.
Background
ARKO Petroleum Corp. (Nasdaq: APC) is a fuel wholesaler that filed a Form 8‑K reporting Q3 2026 results, a raised full‑year EBITDA outlook, and a new quarterly dividend.
Ticker impact
ARKO Petroleum Corp. raised its full-year 2026 Adjusted EBITDA guidance and declared a $0.50 quarterly dividend in its Q3 2026 8‑K filing.
likely upward pressure as the market prices in the raised guidance and dividend.
The company reported higher net income, adjusted EBITDA and discretionary cash flow year‑over‑year, and explicitly raised full‑year EBITDA guidance, which typically supports a price uptick.
Market effects
Improves outlook for the fuel wholesale sector as ARKO signals demand resilience.
May boost sentiment for North American energy distributors.
Limited; primarily a US‑listed micro‑cap impact.
Counterpoint
If the raised guidance already priced in, the stock could face short‑term profit‑taking.
Key entities
- companyARKO Petroleum Corp.
Fuel wholesaler reporting Q3 results and guidance raise.
- companyU.S. Petroleum Partners, LLC
Target of APC's asset purchase agreement.
