ARKO Petroleum Corp. Reports Third Quarter 2026 Results, Raises Full Year 2026 Guidance and Declares Quarterly Dividend
ARKO Corp. (ARKO) 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 are likely to attract both growth and income investors, potentially driving the stock higher in the short term.
Market read
First‑hand earnings and guidance update for a mid‑cap energy distributor, offering actionable insight for traders.
What to watch
Execution risk on the USPP acquisition and integration costs could temper the upside.
Exhibit 99.1: ARKO Petroleum Corp. Reports Third Quarter 2026 Results, Raises Full Year 2026 Guidance and Declares Quarterly Dividend
The reported third-quarter results showed higher net income, Adjusted EBITDA, Discretionary Cash Flow and operating income in each reported segment, while full-year 2026 Adjusted EBITDA guidance was raised to $156 million to $157 million. Offsetting items include lower operating cash flow, reduced comparable wholesale-site operating income, and lower related-party gallons sold.
Key metrics
shortened, hover for the filing’s print| Metric | Value | q/q | y/y |
|---|---|---|---|
| Q3 2026 total revenuesGAAP | $1.89B | – | – |
| Nine months 2026 total revenuesGAAP | $5.07B | – | – |
| Q3 2026 fuel revenueGAAP | $1.15B | – | – |
| Q3 2026 fuel revenue – related partyGAAP | $718.4M | – | 18.0% |
| Q3 2026 other revenues, netGAAP | $20.35M | – | – |
| Q3 2026 other revenues, net – related partyGAAP | $3.21M | – | – |
| Q3 2026 total operating expensesGAAP | $1.86B | – | – |
| Q3 2026 operating incomeGAAP | $25.23M | – | – |
| Nine months 2026 operating incomeGAAP | $68.86M | – | – |
| Q3 2026 income before income taxesGAAP | $17.83M | – | – |
| Q3 2026 net incomeGAAP | $13.34M | – | – |
| Nine months 2026 net incomeGAAP | $33.66M | – | – |
| Q3 2026 net income per share – basicGAAP | $ 0.28 | – | – |
| Q3 2026 net income per share – dilutedGAAP | $ 0.28 | – | – |
| Nine months 2026 net income per share – basicGAAP | $ 0.74 | – | – |
| Nine months 2026 net income per share – dilutedGAAP | $ 0.74 | – | – |
| Q3 2026 EBITDAnon-GAAP | $40.15M | – | – |
| Q3 2026 Adjusted EBITDAnon-GAAP | $40.95M | – | – |
| Nine months 2026 Adjusted EBITDAnon-GAAP | $117.1M | – | – |
| Twelve-months ended September 30, 2026 Adjusted EBITDAnon-GAAP | $154.0M | – | – |
| Q3 2026 net cash provided by operating activitiesGAAP | $21.59M | – | – |
| Nine months 2026 net cash provided by operating activitiesGAAP | $38.57M | – | – |
| Q3 2026 Discretionary Cash Flownon-GAAP | $32.31M | – | – |
| Nine months 2026 Discretionary Cash Flownon-GAAP | $84.40M | – | – |
| Q3 2026 maintenance capital expendituresother | $2.1M | – | – |
| Q3 2026 growth capital expendituresother | $9.5M | – | – |
| September 30, 2026 total debt, netGAAP | $188.9M | – | – |
| September 30, 2026 Net Debtnon-GAAP | $338.4M | – | – |
| September 30, 2026 Ratio of Net Debt to Adjusted EBITDAnon-GAAP | 2.2 x | – | – |
Segments
| Segment | Revenue | q/q | y/y |
|---|---|---|---|
| Wholesale SegmentQ3 operating income was $ 25,823 (in thousands) versus $ 24,128 (in thousands). Fuel contribution at fuel supply locations was $ 15,279 (in thousands) versus $ 13,917 (in thousands), and at consignment agent locations was $ 11,441 (in thousands) versus $ 11,151 (in thousands). The Company attributed the operating-income increase primarily to additional income from ARKO Retail Sites converted to dealer locations, partly offset by reduced operating income at comparable wholesale sites. | $975.2M | – | – |
| Fleet Fueling SegmentQ3 operating income was $ 13,294 (in thousands) versus $ 12,211 (in thousands). Proprietary-cardlock fuel contribution was $ 16,837 (in thousands) versus $ 16,209 (in thousands), while third-party-cardlock fuel contribution was $ 776 (in thousands) versus $ 531 (in thousands). The Company cited significant fuel-market volatility due to the geopolitical environment. | $186.4M | – | – |
| GPMP SegmentQ3 operating income was $ 26,930 (in thousands) versus $ 24,308 (in thousands). Related-party fuel revenue increased by $109.4 million, or 18.0%, while related-party gallons sold decreased by 32.4 million, or 14.5%. The Company cited a higher average fuel price, partly offset by fewer gallons sold and dealer conversions. | $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
- The Board declared a 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.
- The dividend is consistent with an expected annual dividend rate of $2.00 per share.
- Dividends paid on common stock for the three months ended September 30, 2026 were $ 23,785 (in thousands).
- Dividends paid on common stock for the nine months ended September 30, 2026 were $ 36,153 (in thousands).
What drove it
- Seventeen ARKO Retail Sites were converted to dealer locations in the wholesale segment during Q3 2026, bringing total conversions since program inception in 2024 to 488 sites.
- Fuel margin at wholesale fuel supply locations was 7.2 cents per gallon versus 6.3 cents per gallon, and at consignment agent locations was 30.5 cents per gallon versus 27.7 cents per gallon.
- Proprietary-cardlock fuel margin was 51.6 cents per gallon versus 48.9 cents per gallon.
- The Company opened five new fleet fueling locations in the first nine months of 2026, and two locations were added in October 2026.
- The USPP acquisition is expected to add approximately 280 million gallons of annual fuel volume, contribute approximately $30 million of annualized Adjusted EBITDA, and is expected to close during the fourth quarter of fiscal year 2026.
Concerns
- Wholesale operating income from comparable wholesale sites was reduced, partially offsetting income from ARKO Retail Sites converted to dealer locations.
- Net cash provided by operating activities was $ 21,585 (in thousands) in Q3 2026 versus $ 25,022 (in thousands) in Q3 2025.
- GPMP related-party gallons sold declined by 32.4 million, or 14.5%, in Q3 2026.
- The USPP transaction remains subject to an expected fourth-quarter fiscal 2026 closing and involves $205 million in cash plus the value of inventory at closing, as well as $30 million in APC Class A common stock held in escrow subject to EBITDA-based targets.
- The filing header identifies ARKO Corp. and ARKO, while Exhibit 99.1 identifies ARKO Petroleum Corp. and Nasdaq: APC.
What to watch
- Closing of the USPP acquisition during the fourth quarter of fiscal year 2026.
- Execution against the raised full-year 2026 Adjusted EBITDA range of $156 million to $157 million.
- Additional ARKO Parent dealer conversions. Approximately 55 additional sites were committed under letter of intent, under contract or already converted since quarter end.
- Comparable wholesale-site operating income and related-party fuel volumes.
- Development of the additional 16 fleet fueling locations in various stages of planning and development.
Balance sheet and cash flow
- As of September 30, 2026, total liquidity was approximately $715 million, 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 were $ 10,109 (in thousands) as of September 30, 2026, compared with $ 15,556 (in thousands) as of December 31, 2025.
- Total assets were $ 1,417,234 (in thousands) as of September 30, 2026.
- Long-term debt, net was $ 187,730 (in thousands) as of September 30, 2026.
- Purchase of property and equipment was $ 11,324 (in thousands) for Q3 2026 and $ 25,956 (in thousands) for the nine months ended September 30, 2026.
- Q3 2026 net cash used in investing activities was $ 4,852 (in thousands), and net cash used in financing activities was $ 21,187 (in thousands).
Analysis
The exhibit reports a stronger third quarter for the entity identified in the release as ARKO Petroleum Corp. Total revenues were $ 1,888,800 (in thousands), versus $ 1,484,189 (in thousands) in the year-ago quarter. GAAP net income was $ 13,339 (in thousands), versus $ 10,100 (in thousands), even as diluted earnings per share were $ 0.28 versus $ 0.29 because diluted weighted average shares outstanding were 47,585 versus 35,000. Adjusted EBITDA rose to $ 40,953 (in thousands) from $ 37,448 (in thousands), and nine-month Adjusted EBITDA was $ 117,137 (in thousands) versus $ 106,637 (in thousands).
The wholesale business added earnings through dealer conversions, although underlying comparable-site performance was softer. Wholesale operating income was $ 25,823 (in thousands), versus $ 24,128 (in thousands), and the Company specifically attributed the increase primarily to additional operating income from ARKO Retail Sites converted to dealer locations. Fuel contribution increased at both fuel supply and consignment agent locations, while the Company said increased prompt pay discounts related to higher fuel costs drove margin-per-gallon expansion. The contribution from dealerization was partly offset by reduced operating income at comparable wholesale sites.
Fleet Fueling also improved, with operating income of $ 13,294 (in thousands) versus $ 12,211 (in thousands). Contribution increased at both proprietary and third-party cardlock locations, and the release attributed the margin improvement to significant fuel-market volatility due to the geopolitical environment. GPMP operating income was $ 26,930 (in thousands), versus $ 24,308 (in thousands). Higher average fuel prices supported related-party fuel revenue, but related-party gallons sold declined by 32.4 million, or 14.5%, amid the challenging macroeconomic environment and dealer conversions that moved gallons into inter-segment revenue after conversion.
Cash generation was mixed. Q3 net cash provided by operating activities declined to $ 21,585 (in thousands) from $ 25,022 (in thousands), while 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 at September 30, 2026. It also paid $ 23,785 (in thousands) of common-stock dividends in the quarter and declared a subsequent $0.50 per-share dividend.
Management raised full-year 2026 Adjusted EBITDA guidance to $156 million to $157 million based on year-to-date performance, the outlook for the balance of the year and the expected USPP closing. USPP is expected to add approximately 280 million gallons of annual fuel volume and approximately $30 million of annualized Adjusted EBITDA, but it remains expected to close during the fourth quarter of fiscal year 2026. The filing does not provide revenue, gross-margin, operating-expense or tax-rate guidance, nor a forward GAAP reconciliation for Adjusted EBITDA.
Management, verbatim
APC’s third-quarter results reinforce the strategy we outlined at the IPO.
Arie Kotler, Chairman, President and Chief Executive Officer of APC
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.
Arie Kotler, Chairman, President and Chief Executive Officer of APC
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- The filing does not report a consolidated gross margin.
- The filing does not report free cash flow.
- The filing does not report non-GAAP earnings per share.
- The filing does not provide full-year 2026 revenue, gross-margin, operating-expense or tax-rate guidance.
- No previous outlook section was provided, so prior-guidance comparisons cannot be made.
- The filing header identifies ARKO Corp. (ARKO), whereas Exhibit 99.1 identifies ARKO Petroleum Corp. (APC); the document does not reconcile this issuer and ticker discrepancy.
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., a Nasdaq‑listed fuel wholesaler, filed a Form 8‑K reporting Q3 2026 results, a raised full‑year EBITDA outlook, and a new quarterly dividend.
Ticker impact
ARKO raised full-year 2026 Adjusted EBITDA guidance and declared a $0.50 quarterly dividend in its Q3 2026 results filing.
likely upward pressure as investors price in higher EBITDA guidance and dividend yield
The 8‑K provides fresh guidance that exceeds prior expectations and adds a dividend, which typically attracts income‑focused buyers and validates the growth strategy.
Market effects
Improves outlook for the fuel wholesale sector as ARKO's scale expansion signals demand resilience.
Positive for North American fuel distributors, may lift peer valuations.
Limited to U.S. energy distribution niche.
Counterpoint
If the guidance assumes continued market volatility, any sustained price spikes could pressure margins.
Key entities
- CompanyARKO Petroleum Corp.
Nasdaq‑listed fuel wholesaler reporting Q3 results.
- TargetU.S. Petroleum Partners, LLC
Business being acquired to expand ARKO's scale.
