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Edge16 Oct 2026
Winner, Winner: The Chicken McNugget Story
How a 1940s breeding contest, a Cornell food scientist, and a hedge by Ray Dalio helped McDonald's turn the Chicken McNugget into a fast-food icon.
Arko
Arko (ARKO) investor relations material
Arko Q3 2026 earnings summary
Complete event summary combining all related documents: earnings call transcript, report, and slide presentation.Q3 2026 earnings summary5 Nov, 2026
Executive summary
Q3 revenue was $2.390B vs. $2.021B YoY; Adjusted EBITDA was $75.7M vs. $75.2M, and net income was $14.3M vs. $13.5M.
9M Adjusted EBITDA reached $198.6M vs. $183.0M; 9M net income declined to $18.1M from $20.9M, reflecting APC IPO and non-controlling interests.
APC standalone Q3 Adjusted EBITDA rose to $41.0M from $37.4M, and net income increased to $13.3M from $10.1M.
Financial highlights
Q3 fuel revenue increased to $2.007B from $1.600B; merchandise revenue declined to $351.0M from $389.7M.
Q3 fuel margin rose to 29.6 cents/gal from 27.3; merchandise contribution was $122.0M vs. $131.5M, with margin up to 34.8% from 33.7%.
Higher retail fuel and merchandise margins, plus stronger wholesale and fleet results, offset lower retail fuel volumes and $3.1M of incremental same-store card fees.
Retail site-level operating expenses were $160.3M vs. $172.9M; same-store expenses rose to $156.7M from $150.6M. Corporate G&A was $40.8M, up 1.8%.
APC standalone Q3 operating cash flow was $21.6M vs. $25.0M; Discretionary Cash Flow increased to $32.3M from $26.5M.
Outlook and guidance
FY2026 Adjusted EBITDA guidance increased to $250M–$265M, with the low end raised from $245M based on YTD results, trends and expected USPP closing.
APC standalone FY2026 Adjusted EBITDA guidance rose to $156M–$157M, incorporating YTD results, year-end outlook and expected USPP closing.
USPP closing is expected in Q4 2026, subject to customary conditions; the acquisition is not certain to close. FY2026 retail fuel margin guidance is 47–49 cents/gal.
Dealer conversions are expected to be largely complete by end-2027; more than 25 remodels are planned in 2026, with 11 completed through the reporting period.
Forward-looking APC standalone non-GAAP guidance is not reconciled to GAAP because forecast inputs are unavailable without unreasonable effort.
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Latest events from Arko
- Merchandise gains offset softer fuel trends; FY2024 EBITDA guidance is $250M-$290M.ARKO
Q4 2023 - Q2 2026 saw 14% EBITDA growth, APC IPO, and a $235M USPP acquisition to boost earnings.ARKOQ2 2026
- All proposals passed amid strong financial growth and ongoing transformation initiatives.ARKOAGM 2026
- Director elections, transformation initiatives, and loyalty program gains marked the meeting.ARKOAGM 2025
- Adjusted EBITDA up 65% to $50.9M, with margin gains, dealerization, and debt reduction.ARKOQ1 2026
- Director elections, executive pay, and auditor ratification headline the June 2026 virtual meeting.ARKOProxy filing
- Proxy seeks votes on directors, executive pay, auditor ratification, and highlights ESG progress.ARKOProxy filing
- Q3 net income and revenue fell, but margins improved and 2024 EBITDA guidance was reaffirmed.ARKOQ3 2024
- Dealerization, loyalty, and targeted promotions offset macro headwinds, supporting stable 2025 outlook.ARKOQ4 2024
Next Arko earnings date
Q4 202624 Feb, 2027
Arko
Next Arko earnings date
Q4 202624 Feb, 2027
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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.