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Arko Corp. - ARKO STOCK NEWS

Welcome to our dedicated page for Arko news (Ticker: ARKO), a resource for investors and traders seeking the latest updates and insights on Arko stock.

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.

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ARKO Corp. (Nasdaq: ARKO) has been named to the Fortune 500 list for the third consecutive year, ranking No. 453 in 2024, an advancement of 7 places from 2023 and 45 places since its debut in 2022. This recognition celebrates ARKO's strategic growth and operational excellence in the convenience store and fuel wholesaling sectors. The company has grown from 300 stores in 2003 to nearly 3,700 locations today, including 1,550 company-operated stores, over 1,800 independent dealer sites, and around 300 unmanned fleet fueling locations. In 2023, ARKO acquired approximately 160 convenience stores, expanding into Alabama and Mississippi.

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ARKO Corp. subsidiary, GPM Investments, announced that Nathan's Famous 100% beef hot dogs are now available at over 450 locations. This move is part of the company's aim to enhance the food program by offering high-quality and well-known products to its customers. The hot dogs are priced at $1.99 each or two for $3.33 for fas REWARDS members. The addition of Nathan's Famous hot dogs aligns with ARKO's commitment to providing delicious and convenient food options at competitive prices.

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ARKO Corp. reported its first quarter 2024 financial results, including a net loss reduction, adjusted EBITDA decrease, merchandise revenue growth, merchandise margin expansion, and retail fuel contribution increase. The company is focusing on organic growth with a multi-year transformation plan and share repurchase program expansion. Key highlights include merchandise and fuel contribution increases, operating expense growth, liquidity and capital expenditure details, dividend and share repurchase program updates, and segment-specific information. The company expects second quarter 2024 adjusted EBITDA of $70-$77 million and maintains full-year adjusted EBITDA guidance of $250-$290 million.

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ARKO Corp. (Nasdaq: ARKO) will report its first quarter 2024 financial results on May 7, 2024. The Fortune 500 company, a leading convenience store operator in the US, will host a conference call at 5:00 p.m. Eastern time on the same day to discuss the results. Investors can access the call via a toll-free or international dial-in number and a webcast link. A replay will be available for those unable to join initially.
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ARKO Corp.'s subsidiary, GPM, is set to open a new Handy Mart store in Newport, North Carolina, showcasing new initiatives and offerings. The store will feature a variety of food and beverage options, a loyalty program, and convenient fueling options, highlighting the company's strategic focus on sales growth, loyalty programs, and food services.
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ARKO Corp's subsidiary, GPM Investments, , launches value-oriented promotions featuring $4.99 pizza for loyal customers until mid-May 2024. Chairman Arie Kotler emphasizes the company's commitment to providing value and exciting deals for customers.
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ARKO Corp. renegotiates deferred payment terms and value for Transit Energy Group acquisition, repurchases shares at a discount, and settles second installment for cash, all funded by existing liquidity.
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GPM Investments, a subsidiary of ARKO Corp, launches a hiring initiative to prepare for the summer season. The company aims to build a diverse team to maintain its competitive edge and enhance customer experience. With a focus on growth and excellence, GPM offers a new pizza deal for REWARDS® members. The initiative highlights the company's commitment to attracting top talent and fostering career opportunities.
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ARKO Corp. announced the groundbreaking of a new Fast Market store in Gilbert, Arizona, offering a variety of food and beverage options. The store will feature a spacious and inviting environment, with a focus on high-quality, high-value items for customers on the go. The location will also include parking spaces, electric vehicle charging ports, and fuel dispensers, aligning with ARKO's strategic pillars of growing sales, expanding the fas REWARDS® loyalty program, and enhancing food and beverage services.
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ARKO Corp. to participate in the Raymond James & Associates 45th Annual Institutional Investors Conference with their CEO presenting. The live audio webcast will be available on March 4, 2024, at 1:05PM Eastern Time.
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FAQ

What does ARKO Corp. do?

ARKO Corp. is a Fortune 500 company that owns and operates convenience stores and wholesales fuel in the United States.

What are the primary segments of ARKO Corp.?

ARKO operates in Retail, Wholesale, GPM Petroleum, and Fleet Fueling segments.

What is the fas REWARDS® program?

fas REWARDS® is ARKO's loyalty program offering exclusive savings on merchandise and fuel.

How did ARKO perform financially in 2023?

ARKO reported $290.4 million in adjusted EBITDA for 2023, with significant increases in merchandise contribution and strategic acquisitions.

What are ARKO's growth strategies?

ARKO focuses on expanding its geographic footprint, enhancing customer experience, and driving organic growth.

Where is ARKO Corp. headquartered?

ARKO Corp. is headquartered in Richmond, VA.

How many convenience stores does ARKO operate?

ARKO operates nearly 1,550 company-operated stores in the U.S.

What is ARKO's long-term focus?

ARKO aims to enhance organic performance and drive shareholder value through strategic investments and operational improvements.

What is ARKO's recent financial performance highlight?

Despite macroeconomic challenges, ARKO maintained strong performance, with adjusted EBITDA of $290.4 million in 2023.

What is ARKO's liquidity status as of the end of 2023?

As of December 31, 2023, ARKO had a total liquidity of approximately $831 million.

Arko Corp.

Nasdaq:ARKO

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ARKO Stock Data

733.82M
115.74M
29.66%
60.88%
3.1%
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