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 and one of the largest operators of convenience stores and wholesalers of fuel in the United States. News about ARKO often centers on its multi-segment operations in retail convenience, wholesale fuel supply, fleet fueling and its internal fuel distribution arm, GPM Petroleum.
Investors and industry followers can use the ARKO news stream to monitor quarterly earnings announcements, segment performance and updates on the company’s multi-year transformation plan. Recent earnings releases have discussed same-store metrics, fuel contribution and merchandise margins across retail, wholesale and fleet fueling, as well as the impact of converting company-controlled stores to dealer sites.
Corporate news also covers strategic initiatives such as the rollout of food-forward store formats and the fas craves concept, new-to-industry Handy Mart and other store openings, and remodeling projects designed to elevate the customer experience. In addition, ARKO has reported on a non-binding memorandum of understanding between its subsidiary GPM Investments and Apollo Power to evaluate solar energy deployments across parts of its U.S. network.
Governance and capital markets updates appear frequently in ARKO’s news, including changes in the chief financial officer role, board appointments and the filing of a registration statement for a proposed initial public offering of ARKO Petroleum Corp., the subsidiary expected to encompass wholesale, fleet fueling and GPM Petroleum operations. For readers tracking ARKO’s strategy, capital allocation, and network evolution, this news feed provides a centralized view of the company’s operational, financial and corporate developments.
TIG Advisors, LLC, a significant shareholder of TravelCenters of America Inc. (TA), owning approximately 4.9%, has urged the TA Board to allow ARKO Corp. access to its data room for a potential acquisition proposal. This request follows ARKO's recent offer and TA's ongoing merger discussions with BP PLC. TIG contends that the board is neglecting its fiduciary duty to prioritize shareholder interests in favor of Service Properties Trust and The RMR Group. TIG emphasizes the need for the board to conduct due diligence on ARKO’s proposal, asserting that this could create greater value for shareholders. They stress that delaying this process would be detrimental to TA and its investors, and support moving forward with the BP transaction only if ARKO's proposal is found inadequate after due diligence.
ARKO Corp has launched its new fas REWARDS app, enhancing customer engagement with exclusive in-app deals, order capabilities, and a virtual wallet. The app features age-verified offers for tobacco and alcohol, a store locator with current gas prices, and a dashboard for tracking rewards. With over 1.3 million members enrolled, users spent an average of $1.4k annually in 2022. The app aims to increase engagement and enrollment, supporting the Buy More, Stack More, Save More program, allowing members to stack savings on fuel purchases. It is available on the APP Store and Google Play.
TravelCenters of America (Nasdaq: TA) has announced a Special Meeting of Shareholders scheduled for May 10, 2023, to approve its acquisition by BP Products North America at $86.00 per share, an 84% premium over its recent trading average. The transaction is valued at approximately $1.3 billion. TA's Board has determined that a proposal from ARKO does not constitute a superior offer due to its conditional financing and sub-investment grade credit rating, as it does not meet the landlord's requirements for property control changes. The acquisition is expected to close shortly after the shareholder meeting, pending necessary approvals.
ARKO Corp. has proposed a superior offer of $92 per share to TravelCenters of America in the ongoing acquisition discussions, which represents a nearly 7% premium over TravelCenters' existing merger agreement with BP Products. The proposal is supported by an additional $1.25 billion in financing capacity through an amended agreement with Oak Street, emphasizing ARKO's strong financial position. With a history of successful acquisitions, ARKO seeks immediate engagement from TravelCenters to further discuss the proposal. The company highlights its unmatched ability to secure financing without conditions, showcasing confidence in the potential transaction.
ARKO Corp. has urged TravelCenters of America’s Board to consider its acquisition proposal of $92 per share, which surpasses BP's offer of $86. ARKO believes its proposal offers a premium of $6 per share and adds nearly $100 million in value for TravelCenters' shareholders. The company emphasizes its strong financial position and history of successful acquisitions without financing conditions. ARKO is ready to commence due diligence and enter into a merger agreement similar to BP's. The Board's engagement with ARKO could lead to a superior proposal for TravelCenters' shareholders.
ARKO Corp. (Nasdaq: ARKO), a leading convenience store operator in the U.S., will participate in the Raymond James & Associates 44th Annual Institutional Investors Conference. Chairman, President, and CEO Arie Kotler is scheduled to present on March 6, 2023, at 9:50 AM ET. The presentation will be accessible via a live audio webcast. ARKO, which owns GPM Investments, operates across four segments: retail, wholesale, fleet fueling, and GPM Petroleum. The company's extensive network provides quality products and a loyalty program offering savings.
ARKO Corp. has successfully completed the acquisition of Transit Energy Group (TEG), expanding its convenience store operations into Alabama and Mississippi. This marks ARKO's 23rd acquisition since 2013, significantly enhancing its retail footprint in the Southeastern U.S. TEG operates around 135 convenience stores and supplies fuel to approximately 190 independent dealers. The total transaction value is around $370 million, with $50 million deferred. ARKO aims to leverage its expertise in merchandising and marketing to improve TEG's stores, potentially increasing cash flow and adjusted EBITDA.
ARKO Corp. reported robust financial results for 2022, with operating income rising to $167 million, up from $142.1 million in 2021. Net income reached $72 million, compared to $59.4 million previous year. The Adjusted EBITDA for the year was $301.1 million, an increase from $256.6 million. The company announced two acquisitions, continuing growth with 22 total since 2013. Same store merchandise sales increased by 4.3% in Q4 and 2.6% for the year. ARKO remains committed to strategic expansions, with a quarterly dividend of $0.03 declared. Strong liquidity stood at approximately $675 million.
ARKO Corp. (Nasdaq: ARKO) will release its fourth-quarter and full-year financial results for 2022 on February 27, 2023, after market close. A conference call is scheduled for February 28, 2023, at 10:00 a.m. ET, where investors can dial in or participate via a live webcast. ARKO operates convenience stores and is a fuel wholesaler in the U.S., owning GPM Investments. The company focuses on retail and wholesale fuel supply, along with various convenience food offerings. More details will be available during the earnings call, aiming to provide insights into their operational performance.
ARKO Corp. (NASDAQ: ARKO) announced on January 10, 2023, that CFO Don Bassell will retire by the end of 2023 after 16 years with the company. He plans to assist in the transition until approximately April 2024. Bassell has played a crucial role in transforming ARKO into a leading convenience store operator, overseeing over 20 acquisitions and building a robust finance team. The company will begin the search for his successor, evaluating both internal and external candidates to ensure a seamless transition and continued growth.
FAQ
What is the current stock price of Arko (ARKO)?
What is the market cap of Arko (ARKO)?
