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Arko (ARKO) investor relations material
Arko Q3 2025 earnings summary
Complete event summary combining all related documents: earnings call transcript, report, and slide presentation.Q3 2025 earnings summary5 Nov, 2025
Executive summary
Delivered strong execution in Q3 2025 despite pressured consumer sentiment, with disciplined focus on controllable factors and transformation initiatives, including dealerization and loyalty programs.
Operated 1,182 retail convenience stores, supplied fuel to 2,053 dealer locations, and ran 288 cardlock sites across over 30 states as of September 30, 2025.
Loyalty program membership grew 37% in the quarter to 2.4 million, with enrolled customers spending 53% more than non-members.
Transformation plan advanced with 194 retail stores converted to dealer sites year-to-date, enhancing profitability and focusing investments on remaining retail stores.
Regional performance differences favored the Northeast, Southeast, and Mid-Atlantic.
Financial highlights
Q3 2025 Adjusted EBITDA was $75.2 million, slightly above guidance midpoint but down from $78.8 million year-over-year.
Net income for Q3 2025 was $13.5 million, up from $9.7 million year-over-year; net income attributable to common shareholders was $12.0 million, up from $8.2 million.
Q3 2025 revenue was $2.02 billion, down 11.3% year-over-year.
Retail segment operating income was $77.5 million (down from $85.1 million), while wholesale segment operating income grew to $24.1 million (from $20.3 million).
Total capital expenditures for Q3 were $24.9 million; $97.6 million in the first nine months of 2025.
Outlook and guidance
Q4 2025 Adjusted EBITDA expected between $50 million and $60 million; full-year 2025 Adjusted EBITDA guidance updated to $233 million–$243 million.
Retail store count expected to average 1,150 in Q4, with per-store merchandise sales up low to mid-single digits, but same-store sales down low to mid-single digits.
Continued conversion of retail stores to dealer sites through 2025 and 2026, with anticipated incremental operating income.
Wholesale segment expected to see mid-teens operating income growth; fleet fueling segment operating income expected down mid to high single digits.
Capital spending to focus on remodeling, new store formats, and NTI sites, with adequate liquidity to support these initiatives.
Quantify dealerization's CapEx savings impact
How do loyalty members' spending habits differ?
Compare NTI cardlock vs. retail store ROI drivers
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Q4 202527 Feb, 2026
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Frequently asked questions
Arko Corp. operates in the convenience store and wholesale fuel distribution sectors. The company owns and franchises a network of convenience stores across the United States, offering a variety of products including snacks, beverages, and everyday essentials. Arko Corp. also supplies fuel to its own retail locations as well as independent and third-party operators through its fuel distribution business. The company focuses on expanding its footprint and providing accessible services to consumers while managing fuel logistics and retail operations. The company is headquartered in Richmond, Virginia, and its shares are listed on the NASDAQ.
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