ARKO (ARKO)

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ARKO (ARKO) - 2023 Q3 - Quarterly Report
2023-11-05 16:00
UNITED STATES SECURITIES AND EXCHANGE COMMISSION WASHINGTON, D.C. 20549 FORM 10-Q (Mark One) ☒ QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the quarterly period ended September 30, 2023. OR ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the transition period from to . Commission File Number 001-39828 ARKO Corp. (Exact Name of Registrant as Specified in Its Charter) Delaware 85-2784337 (State or Other Jurisdiction ...
ARKO (ARKO) - 2023 Q2 - Earnings Call Transcript
2023-08-12 11:48
Financial Data and Key Metrics Changes - Adjusted EBITDA for Q2 2023 was $86.2 million, up 9.1% from $79 million in Q2 2022 [7][30] - Merchandise revenue increased to $484.6 million from $431.8 million in the prior year quarter [27] - Net income for Q2 2023 was $14.5 million, down from $31.8 million in the prior year period, primarily due to increased depreciation and amortization expenses [30] Business Line Data and Key Metrics Changes - Merchandise gross profit dollars grew to $135.6 million, a 5% increase on a same-store basis compared to Q2 2022 [8] - Same-store merchandise sales excluding cigarettes grew 3.8%, while same-store sales increased by 0.7% compared to Q2 2022 [9] - Retail fuel contribution increased to $156 million from $130.8 million in the prior year quarter, despite a 5.1% decline in same-store retail fuel gross profit [19][27] Market Data and Key Metrics Changes - Total fuel contribution increased by $25.2 million year-over-year, but same-store retail fuel gross profit was down due to a 2.6% decline in gallons sold [19][20] - The average retail cent per gallon on a same-store basis was $0.403, down from $0.414 in the prior year period [20][27] Company Strategy and Development Direction - The company focuses on improving retail store performance through customer service, marketing, and merchandising strategies, alongside executing accretive M&A transactions [7] - The three strategic pillars include growing sales in core destination categories, enhancing the fas REWARDS loyalty program, and expanding food and beverage services [12][14][16] - The company aims to decrease exposure to cigarettes, with core destination categories increasing from 38.4% to 44.6% of total merchandise sales since Q2 2020 [11] Management's Comments on Operating Environment and Future Outlook - Management expressed confidence in the company's strategy and performance, anticipating continued strong results in 2023 [31] - The company acknowledged challenges such as wage inflation, with average hourly wages increasing by approximately 10% [28][45] - Management does not expect retail fuel margins to be as high as the previous year due to exceptional conditions in Q3 2022 [38][20] Other Important Information - The company has access to over $2 billion in available funding for continued M&A activity [23][51] - A quarterly dividend of $0.03 per share was declared, to be paid on September 1, 2023 [31] Q&A Session Summary Question: How much of the same-store sales increase was due to pricing versus traffic? - Management indicated that sales increases were a mix of inflation and unit declines, with some categories showing growth [32][33] Question: What is the opportunity to add branded food franchise offerings? - Management noted ongoing transformation of delis and a robust pipeline for new food offerings, with significant sales increases in food categories [34][36] Question: Any considerations for the strong performance in Q3 last year? - Management highlighted that Q3 2022 had exceptional fuel margins, which are not expected to repeat [38] Question: Changes to previously disclosed EBITDA run rate targets and synergy capture? - Management confirmed that while some synergies have been realized, there is still more to achieve from recent acquisitions [40][42] Question: How does the average hourly wage compare to peers? - Management stated that they are competitive in wages, with a focus on quality of life for employees [44][45] Question: What is a healthy same-store operating expense growth rate for the industry? - Management indicated that they are targeting lower growth rates in operating expenses moving forward [46][48] Question: Current status of M&A activity and integration? - Management confirmed that they will continue to pursue M&A opportunities and have the capacity to integrate new acquisitions [50][51] Question: Insights on merchandise margin expansion contributors? - Management attributed margin expansion to the right assortment and increased sales in core categories [59][60] Question: Current deal flow and valuations in the M&A market? - Management noted a robust pipeline for acquisitions and does not see a slowdown in the marketplace [62][63]
ARKO (ARKO) - 2023 Q2 - Quarterly Report
2023-08-06 16:00
c UNITED STATES SECURITIES AND EXCHANGE COMMISSION WASHINGTON, D.C. 20549 FORM 10-Q (Mark One) ☒ QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the quarterly period ended June 30, 2023. OR ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the transition period from to . Commission File Number 001-39828 ARKO Corp. (Exact Name of Registrant as Specified in Its Charter) Delaware 85-2784337 (State or Other Jurisdiction of ...
ARKO (ARKO) - 2023 Q1 - Earnings Call Transcript
2023-05-13 11:51
Arko Corp. (NASDAQ:ARKO) Q1 2023 Earnings Conference Call May 12, 2023 10:00 AM ET Company Participants Ross Parman - VP, IR and Government Affairs Arie Kotler - Chairman, President and CEO Donald Bassell - CFO Conference Call Participants Anthony Bonadio - Wells Fargo Kelly Bania - BMO Capital Markets Bobby Griffin - Raymond James Mark Astrachan - Stifel William Reuter - Bank of America Hale Holden - Barclays Kelly Bania - BMO Capital Markets Operator Greetings and welcome to Arko Corp First Quarter 2023 F ...
ARKO (ARKO) - 2023 Q1 - Quarterly Report
2023-05-07 16:00
c UNITED STATES SECURITIES AND EXCHANGE COMMISSION WASHINGTON, DC 20549 FORM 10-Q (Mark One) ☒ QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the quarterly period ended March 31, 2023. OR ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the transition period from to . Commission file number 001-39828 ARKO Corp. (Exact Name of Registrant as Specified in Its Charter) Delaware 85-2784337 (State or Other Jurisdiction of I ...
ARKO (ARKO) - 2022 Q4 - Earnings Call Transcript
2023-02-28 21:51
Arko Corp. (NASDAQ:ARKO) Q4 2022 Earnings Conference Call February 28, 2023 10:00 AM ET Company Participants Ross Parman - VP, IR and Government Affairs Arie Kotler - Chairman, President & CEO Donald Bassell - CFO Conference Call Participants Alok Patel - Stifel Karru Martinson - Jefferies William Reuter - Bank of America Anthony Bonadio - Wells Fargo Securities Operator Greetings, and welcome to the Arko Corp. Fourth Quarter and Fiscal Year 2022 Earnings Conference Call. At this time all participants are i ...
ARKO (ARKO) - 2022 Q4 - Annual Report
2023-02-27 16:00
UNITED STATES SECURITIES AND EXCHANGE COMMISSION WASHINGTON, DC 20549 FORM 10-K (Mark One) ☒ ANNUAL REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the fiscal year ended December 31, 2022 OR ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the transition period from to . Commission file number 001-39828 ARKO Corp. (Exact Name of Registrant as Specified in Its Charter) ______________________________________________ Delaware 85-27 ...
ARKO (ARKO) - 2022 Q3 - Earnings Call Transcript
2022-11-13 12:47
Arko Corp. (NASDAQ:ARKO) Q3 2022 Earnings Conference Call November 8, 2022 10:00 AM ET Company Participants Ross Parman - VP, IR and Government Affairs Arie Kotler - Chairman, President & CEO Donald Bassell - CFO Conference Call Participants Bobby Griffin - Raymond James Anthony Bonadio - Wells Fargo Securities Mark Astrachan - Stifel Nicolaus & Company Operator Greetings, and welcome to the Arko Third Quarter 2022 Financial Results Call. At this time all participants are in listen only mode. A question an ...
ARKO (ARKO) - 2022 Q2 - Earnings Call Transcript
2022-08-13 17:18
Arko Corp. (NASDAQ:ARKO) Q2 2022 Earnings Conference Call August 9, 2022 10:00 AM ET Company Participants Ross Parman - Vice President Investor Relations Arie Kotler - Chairman, President & Chief Executive Officer Donald Bassell - Chief Financial Officer Conference Call Participants Ben Wood - BMO Capital Markets Bobby Griffin - Raymond James Anthony Bonadio - Wells Fargo Securities Mark Astrachan - Stifel Karru Martinson - Jefferies Hale Holden - Barclays Operator Greetings, and welcome to the Arko Corp. S ...