ARKO Corp. Reports Second Quarter 2024 Results
Download as PDF August 06, 2024 4:05pm EDT
RICHMOND, Va., Aug. 06, 2024 (GLOBE NEWSWIRE) -- ARKO Corp. (Nasdaq: ARKO) ("ARKO" or the "Company"), a Fortune 500 company and one of the largest convenience store operators in the United States, today announced financial results for the second quarter ended June 30, 2024.
Second Quarter 2024 Key Highlights (vs. Year-Ago Quarter)1,2
- Net income for the quarter was $14.1 million compared to $14.5 million, with recent acquisitions and higher fuel margin partially offsetting continued declines in gallon demand and lower same store merchandise contribution.
- Adjusted EBITDA for the quarter was $83.8 million compared to $86.2 million, which was above the Company's previously issued guidance of $70 million to $77 million, driven by higher retail fuel margin per gallon.
- Merchandise revenue decreased by 2.1% to $474.2 million, with incremental merchandise sales from recent acquisitions offset by a mid-single digit decline in same store merchandise sales.
- Merchandise margin expanded approximately 90 basis points to 32.8%, supported by key marketing and merchandising initiatives.
- Merchandise contribution increased 0.7% to $155.8 million.
- Retail fuel contribution increased 1.2% to $118.0 million, driven by the combined impact of margin increases and incremental gallons from recent acquisitions, which more than offset a decline in same store fuel gallons sold.
- Retail fuel margin increased to 41.6 cents per gallon from 39.7, while same store fuel gallons sold declined 6.6% compared to a decrease in national OPIS average same-station fuel gallon volume of approximately 4.2%.
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1 See Use of Non-GAAP Measures below.
2 All figures for fuel contribution and fuel margin per gallon exclude the estimated fixed margin or fixed fee paid to the Company's wholesale fuel distribution subsidiary, GPM Petroleum LP ("GPMP") for the cost of fuel (intercompany charges by GPMP).
Other Key Highlights
- As part of ARKO's focus on accelerating organic growth, the Company continues to develop its multi-year transformation plan, which is expected to include the following elements:
- Additional targeted capital allocation toward strategic sub-segments of its retail stores intended to drive traffic and improve profitability. The Company plans to allocate capital based in part on a pilot program, currently in development, designed to improve the customer experience and value proposition, potentially including an expanded and refined offering across a larger store network, with a focus on food and an enhanced in-store experience. Currently, the pilot will focus on seven stores within one region, with the goal of a region-wide roll out before, ultimately, the expansion of this program across the Company's retail footprint. The Company expects to begin implementing the new design in our pilot stores in the fourth quarter of 2024.
- Increased focus on both pricing and procurement strategies across the Company's retail stores to support ongoing merchandise margin rate growth.
- Leveraging the Company's unique, multi-segment operating model through more active conversion of retail stores within the Company's retail segment to dealer sites within its wholesale segment. Following the Company's review of its retail store portfolio, a meaningful number of retail locations were identified for potential conversion, which are expected to yield greater profitability after conversion. The Company expects to have converted approximately 40 retail stores to dealer sites by the end of the third quarter of 2024, of which a small number had converted as of the end of the second quarter of 2024.
Additional details of the Company's multi-year transformation plan will be provided at the Company's investor day that is being scheduled for the fourth quarter of 2024. Details will be shared at a later date.
- The Company continued its enhanced food program rollout, including expansion of a re-launched hot dog and roller grill program anchored by Nathan's Famous as its supplier of quality, 100% all beef hot dogs, to more than 460 of its retail stores.
- The Board declared a quarterly dividend of $0.03 per share of common stock to be paid on August 30, 2024 to stockholders of record as of August 19, 2024.
"This quarter, we continued to navigate a challenging macroeconomic environment alongside our customers," said Arie Kotler, Chairman, President and Chief Executive Officer of ARKO. "We continued to see pressure on consumers as they struggle with inflation and elevated prices for everyday goods, especially in markets with a large percentage of lower income consumers. While this negatively impacted our retail sales, our team worked hard to control same store expenses and leverage our strong vendor partner relationships to deliver another quarter of merchandise margin growth, while providing much-needed value to our customers. When combined with higher fuel margins, we exceeded our Adjusted EBITDA guidance for the second quarter."
Mr. Kotler continued: "Our commitment to strong execution, enhancing customer value, and improving store level economics remain a top priority. We are well positioned to navigate the near-term macro headwinds, and we continue to believe in the long-term opportunities for ARKO. We expect the ongoing enhancements to our operations will guide us through this environment, while also laying the foundation for our multi-year transformation plan."
Second Quarter 2024 Segment Highlights
Retail
| For the Three Months Ended June 30, | | | For the Six Months Ended June 30, | |
| 2024 | | | 2023 | | | 2024 | | | 2023 | |
| (in thousands) | |
Fuel gallons sold | | 283,481 | | | | 293,584 | | | | 538,945 | | | | 542,490 | |
Same store fuel gallons sold decrease (%) 1 | | (6.6%) | | | | (2.6%) | | | | (6.6%) | | | | (4.2%) | |
Fuel contribution 2 | $ | 117,981 | | | $ | 116,624 | | | $ | 210,914 | | | $ | 204,720 | |
Fuel margin, cents per gallon 3 | | 41.6 | | | | 39.7 | | | | 39.1 | | | | 37.7 | |
Same store fuel contribution 1,2 | $ | 111,433 | | | $ | 114,746 | | | $ | 193,481 | | | $ | 199,578 | |
Same store merchandise sales (decrease) increase (%) 1 | | (5.1%) | | | | 0.7% | | | | (4.6%) | | | | 2.1% | |
Same store merchandise sales excluding cigarettes (decrease) increase (%) 1 | | (4.0%) | | | | 3.8% | | | | (3.5%) | | | | 5.6% | |
Merchandise revenue | $ | 474,248 | | | $ | 484,561 | | | $ | 888,903 | | | $ | 884,849 | |
Merchandise contribution 4 | $ | 155,759 | | | $ | 154,658 | | | $ | 290,677 | | | $ | 277,623 | |
Merchandise margin 5 | | 32.8% | | | | 31.9% | | | | 32.7% | | | | 31.4% | |
Same store merchandise contribution 1,4 | $ | 148,093 | | | $ | 152,256 | | | $ | 266,769 | | | $ | 270,070 | |
Same store site operating expenses 1 | $ | 192,258 | | | $ | 193,185 | | | $ | 364,877 | | | $ | 360,297 | |
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1 Same store is a common metric used in the convenience store industry. We consider a store a same store beginning in the first quarter in which the store had a full quarter of activity in the prior year. Refer to Use of Non-GAAP Measures below for discussion of this measure. | |
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2 Calculated as fuel revenue less fuel costs; excludes the estimated fixed margin or fixed fee paid to GPMP for the cost of fuel. | |
| | | | | | | | | | | |
3 Calculated as fuel contribution divided by fuel gallons sold. | |
| | | | | | | | | | | |
4 Calculated as merchandise revenue less merchandise costs. | |
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5 Calculated as merchandise contribution divided by merchandise revenue. | |
Total merchandise contribution for the second quarter of 2024 increased $1.1 million, or 0.7%, compared to the second quarter of 2023, due to $5.6 million in incremental merchandise contribution from recent acquisitions, which was partially offset by a decrease in same store merchandise contribution. Same store merchandise contribution decreased primarily due to lower contribution from certain core destination categories, as well as cigarettes.
Merchandise margin increased 90 basis points to 32.8% for the second quarter of 2024, supported by key marketing and merchandising initiatives.
For the second quarter of 2024, retail fuel contribution increased $1.4 million to $118.0 million compared to the prior year period, with resilient fuel margin capture of 41.6 cents per gallon, an increase of 1.9 cents per gallon compared to the second quarter of 2023. Incremental fuel contribution from recent acquisitions of approximately $5.0 million was partially offset by same store fuel contribution, which decreased to $111.4 million for the second quarter of 2024, compared to $114.7 million for the prior year quarter.
Wholesale
| For the Three Months Ended June 30, | | | For the Six Months Ended June 30, | |
| 2024 | | | 2023 | | | 2024 | | | 2023 | |
| (in thousands) | |
Fuel gallons sold – fuel supply locations | | 203,561 | | | | 213,136 | | | | 390,292 | | | | 395,563 | |
Fuel gallons sold – consignment agent locations | | 39,338 | | | | 44,534 | | | | 76,842 | | | | 82,496 | |
Fuel contribution 1 – fuel supply locations | $ | 12,287 | | | $ | 12,518 | | | $ | 23,849 | | $ | | 23,674 | |
Fuel contribution 1 – consignment locations | $ | 11,699 | | | $ | 11,266 | | | $ | 20,867 | | $ | | 21,305 | |
Fuel margin, cents per gallon 2 – fuel supply locations | | 6.0 | | | | 5.9 | | | | 6.1 | | | | 6.0 | |
Fuel margin, cents per gallon 2 – consignment agent locations | | 29.7 | | | | 25.3 | | | | 27.2 | | | | 25.8 | |
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1 Calculated as fuel revenue less fuel costs; excludes the estimated fixed margin or fixed fee paid to GPMP for the cost of fuel. | |
| | | | | | | | | | | |
2 Calculated as fuel contribution divided by fuel gallons sold. | |
In wholesale, total fuel contribution was approximately $24.0 million for the second quarter of 2024. Fuel contribution was similar for the second quarters of 2024 and 2023. Other revenues, net increased by approximately $0.7 million primarily due to vendor rebates. For the second quarter of 2024, site operating expenses decreased $0.6 million compared to the prior year period primarily due to lower credit card fees.
Fleet Fueling
| For the Three Months Ended June 30, | | | For the Six Months Ended June 30, | |
| 2024 | | | 2023 | | | 2024 | | | 2023 | |
| (in thousands) | |
Fuel gallons sold – proprietary cardlock locations | | 35,678 | | | | 32,417 | | | | 69,127 | | | | 63,433 | |
Fuel gallons sold – third-party cardlock locations | | 3,271 | | | | 2,036 | | | | 6,470 | | | | 3,646 | |
Fuel contribution 1 – proprietary cardlock locations | $ | 17,529 | | | $ | 14,229 | | | $ | 31,198 | | $ | | 28,042 | |
Fuel contribution 1 – third-party cardlock locations | $ | 331 | | | $ | 155 | | | $ | 578 | | $ | | 177 | |
Fuel margin, cents per gallon 2 – proprietary cardlock locations | | 49.1 | | | | 43.9 | | | | 45.1 | | | | 44.2 | |
Fuel margin, cents per gallon 2 – third-party cardlock locations | | 10.1 | | | | 7.7 | | | | 8.9 | | | | 4.9 | |
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1 Calculated as fuel revenue less fuel costs; excludes the estimated fixed fee paid to GPMP for the cost of fuel. | |
| | | | | | | | | | | |
2 Calculated as fuel contribution divided by fuel gallons sold. | |
Fuel contribution increased 24.2% to approximately $17.9 million for the second quarter of 2024 compared to the prior year period. At proprietary cardlocks, fuel margin increased by 5.2 cents per gallon compared to the second quarter of 2023. At third-party cardlock locations, fuel margin increased by 2.4 cents per gallon for the second quarter of 2024 compared to the second quarter of 2023. These changes were primarily due to higher volumes and the cardlocks acquired in the WTG Acquisition.
Site Operating Expenses
For the quarter ended June 30, 2024, convenience store operating expenses increased $4.8 million, or 2.4%, as compared to the prior year period, primarily due to $7.4 million of incremental expenses related to recent acquisitions. Same store expenses were down $0.9 million from the prior year period, or 0.5%, primarily related to lower personnel costs and lower credit card fees. The increase in site operating expenses was partially offset by underperforming retail stores that were closed or converted to dealers.
Liquidity and Capital Expenditures
As of June 30, 2024, the Company's total liquidity was approximately $806 million, consisting of approximately $232 million of cash and cash equivalents and approximately $574 million of availability under lines of credit. Outstanding debt was $890 million, resulting in net debt, excluding lease related financing liabilities, of approximately $658 million. Capital expenditures were approximately $19.3 million for the quarter ended June 30, 2024.
Quarterly Dividend and Share Repurchase Program
The Company's ability to return cash to its stockholders through its cash dividend program and share repurchase program is consistent with its capital allocation framework and reflects the Company's confidence in the strength of its cash generation ability and strong financial position.
The Board declared a quarterly dividend of $0.03 per share of common stock to be paid on August 30, 2024 to stockholders of record as of August 19, 2024.
During the second quarter, the Board approved the expansion of the Company's share repurchase program to $125 million, up from $100 million. There was approximately $25.7 million remaining under the share repurchase program as of June 30, 2024.
Company-Operated Retail Store Count and Segment Update
The following tables present certain information regarding changes in the retail, wholesale and fleet fueling segments for the periods presented:
| For the Three Months Ended June 30, | | | For the Six Months Ended June 30, | |
Retail Segment | 2024 | | | 2023 | | | 2024 | | | 2023 | |
Number of sites at beginning of period | | 1,540 | | | | 1,531 | | | | 1,543 | | | | 1,404 | |
Acquired sites | | 21 | | | | 24 | | | | 21 | | | | 159 | |
Newly opened or reopened sites | | — | | | | 2 | | | | 1 | | | | 3 | |
Company-controlled sites converted to | | | | | | | | | | | |
consignment or fuel supply locations, net | | (2) | | | | (6) | | | | (2) | | | | (11) | |
Closed, relocated or divested sites | | (11) | | | | (4) | | | | (15) | | | | (8) | |
Number of sites at end of period | | 1,548 | | | | 1,547 | | | | 1,548 | | | | 1,547 | |
| For the Three Months Ended June 30, | | | For the Six Months Ended June 30, | |
Wholesale Segment 1 | 2024 | | | 2023 | | | 2024 | | | 2023 | |
Number of sites at beginning of period | | 1,816 | | | | 1,841 | | | | 1,825 | | | | 1,674 | |
Acquired sites | | — | | | | 9 | | | | — | | | | 190 | |
Newly opened or reopened sites 2 | | 11 | | | | 17 | | | | 20 | | | | 24 | |
Consignment or fuel supply locations converted | | | | | | | | | | | |
from Company-controlled or fleet fueling sites, net | | 2 | | | | 6 | | | | 2 | | | | 11 | |
Closed, relocated or divested sites | | (35) | | | | (49) | | | | (53) | | | | (75) | |
Number of sites at end of period | | 1,794 | | | | 1,824 | | | | 1,794 | | | | 1,824 | |
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1 Excludes bulk and spot purchasers. | |
2 Includes all signed fuel supply agreements irrespective of fuel distribution commencement date. | |
| For the Three Months Ended June 30, | | | For the Six Months Ended June 30, | |
Fleet Fueling Segment | 2024 | | | 2023 | | | 2024 | | | 2023 | |
Number of sites at beginning of period | | 296 | | | | 183 | | | | 298 | | | | 183 | |
Acquired sites | | — | | | | 111 | | | | - | | | | 111 | |
Closed, relocated or divested sites | | (2) | | | | (1) | | | | (4) | | | | (1) | |
Number of sites at end of period | | 294 | | | | 293 | | | | 294 | | | | 293 | |
Changes in Non-GAAP Definitions; Third Quarter and Full Year 2024 Guidance
Beginning in the third quarter of 2024, the Company has made certain changes to its definitions for Adjusted EBITDA that impact the comparability of the metric to prior periods. Specifically, the Company will no longer include non-cash rent expense adjustments in its calculation of Adjusted EBITDA. Accordingly, the Company's third quarter 2024 Adjusted EBITDA and full year 2024 Adjusted EBITDA guidance reflects the Company's updated definition of Adjusted EBITDA. See "Supplemental Disclosure of Non-GAAP Financial Information" below for a reconciliation of the definitions prior to the third quarter of 2024 to allow for like-for-like comparisons to the new definitions for all periods presented.
The Company currently expects third quarter 2024 Adjusted EBITDA, using the revised methodology to calculate Adjusted EBITDA, to range between $70 million and $86 million, with an assumed range of average retail fuel margin from 38 to 44 cents per gallon, and which now includes approximately $3.5 million of non-cash rent expense.
The Company currently expects full year 2024 Adjusted EBITDA, using the revised methodology to calculate Adjusted EBITDA, to range between $235 million and $275 million, which now includes approximately $15 million of non-cash rent expense. This guidance translates directly to the Company maintaining its full year Adjusted EBITDA range of $250 million to $290 million using the historical methodology. The Company's full year Adjusted EBITDA range assumes a range of average retail fuel margin from 37 to 45 cents per gallon for the back half of the year.
The Company is not providing guidance on net income at this time due to the volatility of certain required inputs that are not available without unreasonable efforts, including future fair value adjustments associated with its stock price, as well as depreciation and amortization related to its capital allocation as part of its focus on accelerating organic growth.
Conference Call and Webcast Details
The Company will host a conference call today to discuss these results at 5:00 p.m. Eastern Time. Investors and analysts interested in participating in the live call can dial 800-245-3047 or 203-518-9765.
A simultaneous, live webcast will also be available on the Investor Relations section of the Company's website at The webcast will be archived for 30 days.
About ARKO Corp.
ARKO Corp. (Nasdaq: ARKO) is a Fortune 500 company that owns 100% of GPM Investments, LLC and is one of the largest operators of convenience stores and wholesalers of fuel in the United States. Based in Richmond, VA, we operate A Family of Community Brands that offer delicious, prepared foods, beer, snacks, candy, hot and cold beverages, and multiple popular quick serve restaurant brands. Our high value fas REWARDS loyalty program offers exclusive savings on merchandise and gas. We operate in four reportable segments: retail, which includes convenience stores selling merchandise and fuel products to retail customers; wholesale, which supplies fuel to independent dealers and consignment agents; GPM Petroleum, which sells and supplies fuel to our retail and wholesale sites and charges a fixed fee, primarily to our fleet fueling sites; and fleet fueling, which includes the operation of proprietary and third-party cardlock locations, and issuance of proprietary fuel cards that provide customers access to a nationwide network of fueling sites. To learn more about GPM stores, visit: . To learn more about ARKO, visit: .
Forward-Looking Statements
This document includes certain "forward-looking statements" within the meaning of the Private Securities Litigation Reform Act of 1995. These forward-looking statements may address, among other things, the Company's expected financial and operational results and the related assumptions underlying its expected results. These forward-looking statements are distinguished by use of words such as "anticipate," "aim," "believe," "continue," "could," "estimate," "expect," "guidance," "intends," "may," "might," "plan," "possible," "potential," "predict," "project," "should," "will," "would" and the negative of these terms, and similar references to future periods. These statements are based on management's current expectations and are subject to uncertainty and changes in circumstances. Actual results may differ materially from these expectations due to, among other things, changes in economic, business and market conditions; the Company's ability to maintain the listing of its common stock and warrants on the Nasdaq Stock Market; changes in its strategy, future operations, financial position, estimated revenues and losses, projected costs, prospects and plans; expansion plans and opportunities; changes in the markets in which it competes; changes in applicable laws or regulations, including those relating to environmental matters; market conditions and global and economic factors beyond its control; and the outcome of any known or unknown litigation and regulatory proceedings. Detailed information about these factors and additional important factors can be found in the documents that the Company files with the Securities and Exchange Commission, such as Form 10-K, Form 10-Q and Form 8-K. Forward-looking statements speak only as of the date the statements were made. The Company does not undertake an obligation to update forward-looking information, except to the extent required by applicable law.
Use of Non-GAAP Measures
The Company discloses certain measures on a "same store basis," which is a non-GAAP measure. Information disclosed on a "same store basis" excludes the results of any store that is not a "same store" for the applicable period. A store is considered a same store beginning in the first quarter in which the store had a full quarter of activity in the prior year. The Company believes that this information provides greater comparability regarding its ongoing operating performance. Neither this measure nor those described below should be considered an alternative to measurements presented in accordance with generally accepted accounting principles in the United States ("GAAP").
The Company defines EBITDA as net income before net interest expense, income taxes, depreciation and amortization. Adjusted EBITDA further adjusts EBITDA by excluding the gain or loss on disposal of assets, impairment charges, acquisition costs, share-based compensation expense, other non-cash items, and other unusual or non-recurring charges. Each of Operating Income, as adjusted, EBITDA and Adjusted EBITDA is a non-GAAP financial measure.
At the segment level, the Company defines Operating Income, as adjusted, as operating income excluding the estimated fixed margin or fixed fee paid to GPMP for the cost of fuel.
The Company uses EBITDA and Adjusted EBITDA for operational and financial decision-making and believe these measures are useful in evaluating its performance because they eliminate certain items that it does not consider indicators of its operating performance. Additionally, the Company believes Operating Income, as adjusted provides greater comparability regarding its ongoing segment operating performance by eliminating intercompany charges at the segment level. EBITDA and Adjusted EBITDA are also used by many of its investors, securities analysts, and other interested parties in evaluating its operational and financial performance across reporting periods. The Company believes that the presentation of EBITDA and Adjusted EBITDA provides useful information to investors by allowing an understanding of key measures that it uses internally for operational decision-making, budgeting, evaluating acquisition targets, and assessing its operating performance.
Operating Income, as adjusted, EBITDA and Adjusted EBITDA are not recognized terms under GAAP and should not be considered as a substitute for net income or any other financial measure presented in accordance with GAAP. These measures have limitations as analytical tools and should not be considered in isolation or as substitutes for analysis of its results as reported under GAAP. The Company strongly encourages investors to review its financial statements and publicly filed reports in their entirety and not to rely on any single financial measure.
Because non-GAAP financial measures are not standardized, same store measures, Operating Income, as adjusted, EBITDA and Adjusted EBITDA, as defined by the Company, may not be comparable to similarly titled measures reported by other companies. It therefore may not be possible to compare the Company's use of these non-GAAP financial measures with those used by other companies.
Change in Non-GAAP Definitions
Beginning on July 1, 2024, the Company has made certain changes to its calculation of Adjusted EBITDA that impact the comparability of the metrics to prior periods. Specifically, the Company will no longer include non-cash rent expense adjustments in its calculation of Adjusted EBITDA. Accordingly, the Company's third quarter of 2024 and full year 2024 Adjusted EBITDA guidance reflect the Company's updated definition of Adjusted EBITDA. See "Supplemental Disclosure of Non-GAAP Financial Information" below for a reconciliation of the definitions prior to July 1, 2024 to allow for like-for-like comparisons to the new definitions for all periods presented.
Company Contact
Jordan Mann
ARKO Corp.
investors@gpminvestments.com
Investor Contact
Sean Mansouri, CFA
Elevate IR
(720) 330-2829
ARKO@elevate-ir.com
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| | Condensed Consolidated Statements of Operations | |
| | | | | | |
| | For the Three Months Ended June 30, | | | For the Six Months Ended June 30, | |
| | 2024 | | | 2023 | | | 2024 | | | 2023 | |
| | (in thousands) | |
Revenues: | | | | | | | | | | | | |
Fuel revenue | | $ | 1,887,531 | | $ | | 1,957,100 | | | $ | 3,518,863 | | $ | | 3,618,764 | |
Merchandise revenue | | | 474,248 | | | | 484,561 | | | | 888,903 | | | | 884,849 | |
Other revenues, net | | | 26,384 | | | | 27,480 | | | | 52,851 | | | | 53,904 | |
Total revenues | | | 2,388,163 | | | | 2,469,141 | | | | 4,460,617 | | | | 4,557,517 | |
Operating expenses: | | | | | | | | | | | | |
Fuel costs | | | 1,726,761 | | | | 1,801,103 | | | | 3,229,063 | | | | 3,338,985 | |
Merchandise costs | | | 318,489 | | | | 329,903 | | | | 598,226 | | | | 607,226 | |
Site operating expenses | | | 223,691 | | | | 218,002 | | | | 442,622 | | | | 410,685 | |
General and administrative expenses | | | 42,436 | | | | 42,660 | | | | 84,594 | | | | 83,076 | |
Depreciation and amortization | | | 33,577 | | | | 32,837 | | | | 65,293 | | | | 61,236 | |
Total operating expenses | | | 2,344,954 | | | | 2,424,505 | | | | 4,419,798 | | | | 4,501,208 | |
Other expenses, net | | | 261 | | | | 4,956 | | | | 2,737 | | | | 7,676 | |
Operating income | | | 42,948 | | | | 39,680 | | | | 38,082 | | | | 48,633 | |
Interest and other financial income | | | 3,384 | | | | 2,428 | | | | 25,297 | | | | 9,630 | |
Interest and other financial expenses | | | (24,751) | | | | (22,588) | | | | (49,121) | | | | (43,392) | |
Income before income taxes | | | 21,581 | | | | 19,520 | | | | 14,258 | | | | 14,871 | |
Income tax expense | | | (7,546) | | | | (5,014) | | | | (839) | | | | (2,856) | |
Income (loss) from equity investment | | | 28 | | | | (27) | | | | 50 | | | | (63) | |
Net income | | $ | 14,063 | | $ | | 14,479 | | | $ | 13,469 | | $ | | 11,952 | |
Less: Net income attributable to non-controlling interests | | | — | | | | 48 | | | | — | | | | 101 | |
Net income attributable to ARKO Corp. | | $ | 14,063 | | $ | | 14,431 | | | $ | 13,469 | | $ | | 11,851 | |
Series A redeemable preferred stock dividends | | | (1,445) | | | | (1,434) | | | | (2,859) | | | | (2,852) | |
Net income attributable to common shareholders | | $ | 12,618 | | $ | | 12,997 | | | $ | 10,610 | | $ | | 8,999 | |
Net income per share attributable to common shareholders – basic | | $ | 0.11 | | | $ | 0.11 | | | $ | 0.09 | | | $ | 0.07 | |
Net income per share attributable to common shareholders – diluted | | $ | 0.11 | | | $ | 0.11 | | | $ | 0.09 | | | $ | 0.07 | |
Weighted average shares outstanding: | | | | | | | | | | | | |
Basic | | | 115,758 | | | | 119,893 | | | | 116,512 | | | | 120,073 | |
Diluted | | | 116,880 | | | | 121,280 | | | | 117,073 | | | | 120,767 | |
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| Condensed Consolidated Balance Sheets | |
| | | | | |
| June 30, 2024 | | | December 31, 2023 | |
| (in thousands) | |
Assets | | | | | |
Current assets: | | | | | |
Cash and cash equivalents | $ | 231,647 | | | $ | 218,120 | |
Restricted cash | | 19,392 | | | | 23,301 | |
Short-term investments | | 4,860 | | | | 3,892 | |
Trade receivables, net | | 155,578 | | | | 134,735 | |
Inventory | | 251,142 | | | | 250,593 | |
Other current assets | | 107,145 | | | | 118,472 | |
Total current assets | | 769,764 | | | | 749,113 | |
Non-current assets: | | | | | |
Property and equipment, net | | 740,004 | | | | 742,610 | |
Right-of-use assets under operating leases | | 1,418,778 | | | | 1,384,693 | |
Right-of-use assets under financing leases, net | | 160,280 | | | | 162,668 | |
Goodwill | | 299,972 | | | | 292,173 | |
Intangible assets, net | | 194,151 | | | | 214,552 | |
Equity investment | | 2,935 | | | | 2,885 | |
Deferred tax asset | | 60,822 | | | | 52,293 | |
Other non-current assets | | 53,163 | | | | 49,377 | |
Total assets | $ | 3,699,869 | | | $ | 3,650,364 | |
Liabilities | | | | | |
Current liabilities: | | | | | |
Long-term debt, current portion | $ | 18,184 | | | $ | 16,792 | |
Accounts payable | | 239,169 | | | | 213,657 | |
Other current liabilities | | 151,434 | | | | 179,536 | |
Operating leases, current portion | | 68,725 | | | | 67,053 | |
Financing leases, current portion | | 10,856 | | | | 9,186 | |
Total current liabilities | | 488,368 | | | | 486,224 | |
Non-current liabilities: | | | | | |
Long-term debt, net | | 871,678 | | | | 828,647 | |
Asset retirement obligation | | 86,872 | | | | 84,710 | |
Operating leases | | 1,434,238 | | | | 1,395,032 | |
Financing leases | | 211,760 | | | | 213,032 | |
Other non-current liabilities | | 233,852 | | | | 266,602 | |
Total liabilities | | 3,326,768 | | | | 3,274,247 | |
| | | | | |
Series A redeemable preferred stock | | 100,000 | | | | 100,000 | |
| | | | | |
Shareholders' equity: | | | | | |
Common stock | | 12 | | | | 12 | |
Treasury stock | | (106,123) | | | | (74,134) | |
Additional paid-in capital | | 270,455 | | | | 245,007 | |
Accumulated other comprehensive income | | 9,119 | | | | 9,119 | |
Retained earnings | | 99,638 | | | | 96,097 | |
Total shareholders' equity | | 273,101 | | | | 276,101 | |
Non-controlling interest | | — | | | | 16 | |
Total equity | | 273,101 | | | | 276,117 | |
Total liabilities, redeemable preferred stock and equity | $ | 3,699,869 | | | $ | 3,650,364 | |
| | | |
| | Condensed Consolidated Statements of Cash Flows | |
| | | | | | | | | | | | |
| | For the Three Months Ended June 30, | | | For the Six Months Ended June 30, | |
| | 2024 | | | 2023 | | | 2024 | | | 2023 | |
| | (in thousands) | |
Cash flows from operating activities: | | | | | | | | | | | | |
Net income | | $ | 14,063 | | | $ | 14,479 | | | $ | 13,469 | | | $ | 11,952 | |
Adjustments to reconcile net income to net cash provided by operating activities: | | | | | | | | | | | | |
Depreciation and amortization | | | 33,577 | | | | 32,837 | | | | 65,293 | | | | 61,236 | |
Deferred income taxes | | | 4,146 | | | | (3,885) | | | | (5,929) | | | | (14,115) | |
Loss on disposal of assets and impairment charges | | | 721 | | | | 2,991 | | | | 3,385 | | | | 3,278 | |
Foreign currency loss | | | 30 | | | | 24 | | | | 57 | | | | 58 | |
Gain from issuance of shares as payment of deferred consideration related to business acquisition | | | — | | | | — | | | | (2,681) | | | | — | |
Gain from settlement related to business acquisition | | | — | | | | — | | | | (6,356) | | | | — | |
Amortization of deferred financing costs and debt discount | | | 668 | | | | 621 | | | | 1,332 | | | | 1,213 | |
Amortization of deferred income | | | (4,423) | | | | (2,069) | | | | (6,369) | | | | (3,929) | |
Accretion of asset retirement obligation | | | 627 | | | | 627 | | | | 1,243 | | | | 1,118 | |
Non-cash rent | | | 3,687 | | | | 3,760 | | | | 7,171 | | | | 6,558 | |
Charges to allowance for credit losses | | | 314 | | | | 290 | | | | 641 | | | | 573 | |
(Income) loss from equity investment | | | (28) | | | | 27 | | | | (50) | | | | 63 | |
Share-based compensation | | | 2,784 | | | | 4,555 | | | | 6,113 | | | | 8,624 | |
Fair value adjustment of financial assets and liabilities | | | (1,434) | | | | (1,020) | | | | (12,206) | | | | (5,248) | |
Other operating activities, net | | | 62 | | | | 647 | | | | 686 | | | | 976 | |
Changes in assets and liabilities: | | | | | | | | | | | | |
Decrease (increase) in trade receivables | | | 2,820 | | | | (6,991) | | | | (21,484) | | | | (18,173) | |
Decrease (increase) in inventory | | | 2,584 | | | | (5,363) | | | | 2,772 | | | | (8,208) | |
Decrease (increase) in other assets | | | 748 | | | | (14,510) | | | | 5,843 | | | | (10,965) | |
Increase in accounts payable | | | 5,130 | | | | 8,640 | | | | 26,477 | | | | 14,580 | |
Decrease in other current liabilities | | | (1,772) | | | | (7,524) | | | | (5,924) | | | | (7,651) | |
(Decrease) increase in asset retirement obligation | | | (65) | | | | (21) | | | | (120) | | | | 46 | |
Increase in non-current liabilities | | | 12,980 | | | | 1,988 | | | | 16,611 | | | | 4,000 | |
Net cash provided by operating activities | | | 77,219 | | | | 30,103 | | | | 89,974 | | | | 45,986 | |
Cash flows from investing activities: | | | | | | | | | | | | |
Purchase of property and equipment | | | (19,284) | | | | (26,658) | | | | (48,512) | | | | (50,038) | |
Purchase of intangible assets | | | — | | | | (35) | | | | — | | | | (35) | |
Proceeds from sale of property and equipment | | | 48,256 | | | | 88,049 | | | | 50,295 | | | | 296,485 | |
Business acquisitions, net of cash | | | (53,458) | | | | (143,294) | | | | (54,458) | | | | (481,636) | |
Loans to equity investment, net | | | 14 | | | | — | | | | 28 | | | | — | |
Net cash used in investing activities | | | (24,472) | | | | (81,938) | | | | (52,647) | | | | (235,224) | |
Cash flows from financing activities: | | | | | | | | | | | | |
Receipt of long-term debt, net | | | 5,968 | | | | 19,233 | | | | 47,556 | | | | 74,233 | |
Repayment of debt | | | (7,214) | | | | (4,919) | | | | (13,849) | | | | (10,511) | |
Principal payments on financing leases | | | (1,171) | | | | (1,494) | | | | (2,306) | | | | (2,912) | |
Early settlement of deferred consideration related to business acquisition | | | — | | | | — | | | | (17,155) | | | | — | |
Proceeds from sale-leaseback | | | — | | | | 28,793 | | | | — | | | | 80,397 | |
Payment of Ares Put Option | | | — | | | | (9,808) | | | | — | | | | (9,808) | |
Common stock repurchased | | | (68) | | | | (11,253) | | | | (31,989) | | | | (13,563) | |
Dividends paid on common stock | | | (3,473) | | | | (3,607) | | | | (7,069) | | | | (7,216) | |
Dividends paid on redeemable preferred stock | | | (1,445) | | | | (1,434) | | | | (2,859) | | | | (2,852) | |
Net cash (used in) provided by financing activities | | | (7,403) | | | | 15,511 | | | | (27,671) | | | | 107,768 | |
Net increase (decrease) in cash and cash equivalents and restricted cash | | | 45,344 | | | | (36,324) | | | | 9,656 | | | | (81,470) | |
Effect of exchange rate on cash and cash equivalents and restricted cash | | | (19) | | | | — | | | | (38) | | | | (21) | |
Cash and cash equivalents and restricted cash, beginning of period | | | 205,714 | | | | 271,602 | | | | 241,421 | | | | 316,769 | |
Cash and cash equivalents and restricted cash, end of period | | $ | 251,039 | | | $ | 235,278 | | | $ | 251,039 | | | $ | 235,278 | |
Supplemental Disclosure of Non-GAAP Financial Information
| | Reconciliation of EBITDA and Adjusted EBITDA | |
| | | | | | | | | | | | |
| | For the Three Months Ended June 30, | | | For the Six Months Ended June 30, | |
| | 2024 | | | 2023 | | | 2024 | | | 2023 | |
| | (in thousands) | |
Net income | | $ | 14,063 | | | $ | 14,479 | | | $ | 13,469 | | | $ | 11,952 | |
Interest and other financing expenses, net | | | 21,367 | | | | 20,160 | | | | 23,824 | | | | 33,762 | |
Income tax expense | | | 7,546 | | | | 5,014 | | | | 839 | | | | 2,856 | |
Depreciation and amortization | | | 33,577 | | | | 32,837 | | | | 65,293 | | | | 61,236 | |
EBITDA | | | 76,553 | | | | 72,490 | | | | 103,425 | | | | 109,806 | |
Non-cash rent expense (a) | | | 3,687 | | | | 3,760 | | | | 7,171 | | | | 6,558 | |
Acquisition costs (b) | | | 1,510 | | | | 3,277 | | | | 2,190 | | | | 6,853 | |
Loss on disposal of assets and impairment charges (c) | | | 721 | | | | 2,991 | | | | 3,385 | | | | 3,278 | |
Share-based compensation expense (d) | | | 2,784 | | | | 4,555 | | | | 6,113 | | | | 8,624 | |
(Income) loss from equity investment (e) | | | (28) | | | | 27 | | | | (50) | | | | 63 | |
Fuel taxes received in arrears (f) | | | — | | | | — | | | | (565) | | | | — | |
Adjustment to contingent consideration (g) | | | (310) | | | | (922) | | | | (292) | | | | (1,624) | |
Other (h) | | | (1,160) | | | | 64 | | | | (971) | | | | 168 | |
Adjusted EBITDA, as defined through June 30, 2024 | | $ | 83,757 | | | $ | 86,242 | | | $ | 120,406 | | | $ | 133,726 | |
Non-cash rent expense (a) | | | (3,687) | | | | (3,760) | | | | (7,171) | | | | (6,558) | |
Adjusted EBITDA, as defined beginning July 1, 2024 | | $ | 80,070 | | | $ | 82,482 | | | $ | 113,235 | | | $ | 127,168 | |
| | | | | | | | | | | | |
(a) Eliminates the non-cash portion of rent, which reflects the extent to which our GAAP rent expense recognized exceeded (or was less than) our cash rent payments. The GAAP rent expense adjustment varies depending on the terms of our lease portfolio. For newer leases, our rent expense recognized typically exceeds our cash rent payments, whereas, for more mature leases, rent expense recognized is typically less than our cash rent payments. Beginning July 1, 2024, such expenses will no longer be an adjustment in the definition of Adjusted EBITDA. | |
| | | | | | | | | | | | |
(b) Eliminates costs incurred that are directly attributable to business acquisitions and salaries of employees whose primary job function is to execute our acquisition strategy and facilitate integration of acquired operations. | |
| | | | | | | | | | | | |
(c) Eliminates the non-cash loss from the sale of property and equipment, the loss recognized upon the sale of related leased assets, and impairment charges on property and equipment and right-of-use assets related to closed and non-performing sites. | |
| | | | | | | | | | | | |
(d) Eliminates non-cash share-based compensation expense related to the equity incentive program in place to incentivize, retain, and motivate our employees, certain non-employees and members of the Board. | |
| | | | | | | | | | | | |
(e) Eliminates our share of (income) loss attributable to our unconsolidated equity investment. | |
| | | | | | | | | | | | |
(f) Eliminates the receipt of historical fuel tax amounts for multiple prior periods. | |
| | | | | | | | | | | | |
(g) Eliminates fair value adjustments to the contingent consideration owed to the seller for the 2020 Empire acquisition. | |
| | | | | | | | | | | | |
(h) Eliminates other unusual or non-recurring items that we do not consider to be meaningful in assessing operating performance. | |
Supplemental Disclosures of Segment Information
Retail Segment
| For the Three Months Ended June 30, | | | For the Six Months Ended June 30, | |
| 2024 | | | 2023 | | | 2024 | | | 2023 | |
| (in thousands) | |
Revenues: | | | | | | | | | | | |
Fuel revenue | $ | 976,372 | | $ | | 1,015,365 | | | $ | 1,800,800 | | $ | | 1,858,838 | |
Merchandise revenue | | 474,248 | | | | 484,561 | | | | 888,903 | | | | 884,849 | |
Other revenues, net | | 16,735 | | | | 18,997 | | | | 33,414 | | | | 37,552 | |
Total revenues | | 1,467,355 | | | | 1,518,923 | | | | 2,723,117 | | | | 2,781,239 | |
Operating expenses: | | | | | | | | | | | |
Fuel costs | | 872,493 | | | | 913,437 | | | | 1,616,734 | | | | 1,681,245 | |
Merchandise costs | | 318,489 | | | | 329,903 | | | | 598,226 | | | | 607,226 | |
Site operating expenses | | 202,550 | | | | 197,726 | | | | 400,567 | | | | 373,280 | |
Total operating expenses | | 1,393,532 | | | | 1,441,066 | | | | 2,615,527 | | | | 2,661,751 | |
Operating income | | 73,823 | | | | 77,857 | | | | 107,590 | | | | 119,488 | |
Intercompany charges by GPMP 1 | | 14,102 | | | | 14,696 | | | | 26,848 | | | | 27,127 | |
Operating income, as adjusted | $ | 87,925 | | | $ | 92,553 | | $ | | 134,438 | | | $ | 146,615 | |
| | | | | | | | | | | |
1 Represents the estimated fixed margin or fixed fee paid to GPMP for the cost of fuel. | |
The tables below show financial information and certain key metrics of recent acquisitions in the Retail Segment that do not have (or have only partial) comparable information for any of the prior periods.
| For the Three Months Ended June 30, 2024 | |
| Uncle's (WTG) 1 | | | Speedy's 2 | | | SpeedyQ 3 | | | Total | |
| (in thousands) | |
Date of Acquisition: | Jun 6, 2023 | | | Aug 15, 2023 | | | Apr 9, 2024 | | | | |
Revenues: | | | | | | | | | | | |
Fuel revenue | $ | 20,928 | | $ | | 5,086 | | | $ | 13,356 | | | $ | 39,370 | |
Merchandise revenue | | 10,204 | | | | 2,644 | | | | 6,738 | | | | 19,586 | |
Other revenues, net | | 263 | | | | 54 | | | | 227 | | | | 544 | |
Total revenues | | 31,395 | | | | 7,784 | | | | 20,321 | | | | 59,500 | |
Operating expenses: | | | | | | | | | | | |
Fuel costs | | 17,373 | | | | 4,578 | | | | 11,814 | | | | 33,765 | |
Merchandise costs | | 6,505 | | | | 1,651 | | | | 4,873 | | | | 13,029 | |
Site operating expenses | | 4,603 | | | | 922 | | | | 3,058 | | | | 8,583 | |
Total operating expenses | | 28,481 | | | | 7,151 | | | | 19,745 | | | | 55,377 | |
Operating income | | 2,914 | | | | 633 | | | | 576 | | | | 4,123 | |
Intercompany charges by GPMP 4 | | 294 | | | | 79 | | | | 193 | | | | 566 | |
Operating income, as adjusted | $ | 3,208 | | $ | | 712 | | | $ | 769 | | | $ | 4,689 | |
Fuel gallons sold | | 5,872 | | | | 1,587 | | | | 3,857 | | | | 11,316 | |
Fuel contribution 5 | $ | 3,849 | | $ | | 587 | | | $ | 1,735 | | | $ | 6,171 | |
Merchandise contribution 6 | $ | 3,699 | | $ | | 993 | | | $ | 1,865 | | | $ | 6,557 | |
Merchandise margin 7 | | 36.3% | | | | 37.6% | | | | 27.7% | | | | |
| For the Six Months Ended June 30, 2024 | |
| Uncle's (WTG) 1 | | | Speedy's 2 | | | SpeedyQ 3 | | | Total | |
| (in thousands) | |
Date of Acquisition: | Jun 6, 2023 | | | Aug 15, 2023 | | | Apr 9, 2024 | | | | |
Revenues: | | | | | | | | | | | |
Fuel revenue | $ | 40,697 | | $ | | 9,354 | | | $ | 13,356 | | | $ | 63,407 | |
Merchandise revenue | | 19,351 | | | | 4,909 | | | | 6,738 | | | | 30,998 | |
Other revenues, net | | 491 | | | | 106 | | | | 227 | | | | 824 | |
Total revenues | | 60,539 | | | | 14,369 | | | | 20,321 | | | | 95,229 | |
Operating expenses: | | | | | | | | | | | |
Fuel costs | | 34,437 | | | | 8,473 | | | | 11,814 | | | | 54,724 | |
Merchandise costs | | 12,378 | | | | 3,093 | | | | 4,873 | | | | 20,344 | |
Store operating expenses | | 9,293 | | | | 2,112 | | | | 3,058 | | | | 14,463 | |
Total operating expenses | | 56,108 | | | | 13,678 | | | | 19,745 | | | | 89,531 | |
Operating income | $ | 4,431 | | $ | | 691 | | | $ | 576 | | | $ | 5,698 | |
Intercompany charges by GPMP 4 | | 585 | | | | 150 | | | | 193 | | | | 928 | |
Operating income, as adjusted | $ | 5,016 | | $ | | 841 | | | $ | 769 | | | $ | 6,626 | |
Fuel gallons sold | | 11,693 | | | | 3,003 | | | | 3,857 | | | | 18,553 | |
Fuel contribution 5 | $ | 6,845 | | $ | | 1,031 | | | $ | 1,735 | | | $ | 9,611 | |
Merchandise contribution 6 | $ | 6,973 | | $ | | 1,816 | | | $ | 1,865 | | | $ | 10,654 | |
Merchandise margin 7 | | 36.0% | | | | 37.0% | | | | 27.7% | | | | |
| | | | | | | | | | | |
1 Acquisition from WTG Fuels Holdings, LLC ("WTG"); includes only the retail stores acquired in the WTG acquisition. | |
| | | | | | | | | | | |
2 Acquisition of seven Speedy's retail stores. | |
| | | | | | | | | | | |
3 Acquisition of 21 SpeedyQ retail stores. | |
| | | | | | | | | | | |
4 Represents the estimated fixed margin paid to GPMP for the cost of fuel. | |
| | | | | | | | | | | |
5 Calculated as fuel revenue less fuel costs; excludes the estimated fixed margin paid to GPMP for the cost of fuel. | |
| | | | | | | | | | | |
6 Calculated as merchandise revenue less merchandise costs. | |
| | | | | | | | | | | |
7 Calculated as merchandise contribution divided by merchandise revenue. | |
Wholesale Segment
| For the Three Months Ended June 30, | | | For the Six Months Ended June 30, | |
| 2024 | | | 2023 | | | 2024 | | | 2023 | |
| (in thousands) | |
Revenues: | | | | | | | | | | | |
Fuel revenue | $ | 762,693 | | | $ | 811,139 | | | $ | 1,427,207 | | | $ | 1,495,987 | |
Other revenues, net | | 6,850 | | | | 6,110 | | | | 13,708 | | | | 12,601 | |
Total revenues | | 769,543 | | | | 817,249 | | | | 1,440,915 | | | | 1,508,588 | |
Operating expenses: | | | | | | | | | | | |
Fuel costs | | 750,846 | | | | 800,286 | | | | 1,405,959 | | | | 1,474,977 | |
Site operating expenses | | 9,566 | | | | 10,196 | | | | 18,865 | | | | 19,294 | |
Total operating expenses | | 760,412 | | | | 810,482 | | | | 1,424,824 | | | | 1,494,271 | |
Operating income | | 9,131 | | | $ | 6,767 | | | $ | 16,091 | | | $ | 14,317 | |
Intercompany charges by GPMP 1 | | 12,139 | | | | 12,931 | | | | 23,468 | | | | 23,969 | |
Operating income, as adjusted | $ | 21,270 | | | $ | 19,698 | | $ | | 39,559 | | | $ | 38,286 | |
| | | | | | | | | | | |
1 Represents the estimated fixed margin or fixed fee paid to GPMP for the cost of fuel. | |
The table below shows financial information and certain key metrics of recent acquisitions in the Wholesale Segment that have only partial comparable information for prior periods.
| For the Three Months Ended June 30, 2024 | | | For the Six Months Ended June 30, 2024 | |
| WTG 1 | |
| (in thousands) | |
Date of Acquisition: | Jun 6, 2023 | |
Revenues: | | | | | |
Fuel revenue | $ | 2,882 | | | $ | 5,966 | |
Other revenues, net | | 14 | | | | 29 | |
Total revenues | | 2,896 | | | | 5,995 | |
Operating expenses: | | | | | |
Fuel costs | | 2,741 | | | | 5,700 | |
Site operating expenses | | 68 | | | | 136 | |
Total operating expenses | | 2,809 | | | | 5,836 | |
Operating income | | 87 | | | | 159 | |
Intercompany charges by GPMP 2 | | 40 | | | | 84 | |
Operating income, as adjusted | $ | 127 | | | $ | 243 | |
Fuel gallons sold | | 811 | | | | 1,682 | |
| | | | | |
1 Includes only the wholesale business acquired in the WTG acquisition. | |
| | | | | |
2 Represents the estimated fixed margin paid to GPMP for the cost of fuel. | |
Fleet Fueling Segment
| For the Three Months Ended June 30, | | | For the Six Months Ended June 30, | |
| 2024 | | | 2023 | | | 2024 | | | 2023 | |
| (in thousands) | |
Revenues: | | | | | | | | | | | |
Fuel revenue | $ | 140,140 | | | $ | 121,146 | | | $ | 272,333 | | | $ | 248,640 | |
Other revenues, net | | 2,284 | | | | 1,676 | | | | 4,669 | | | | 2,627 | |
Total revenues | | 142,424 | | | | 122,822 | | | | 277,002 | | | | 251,267 | |
Operating expenses: | | | | | | | | | | | |
Fuel costs | | 124,149 | | | | 108,435 | | | | 244,207 | | | | 223,666 | |
Site operating expenses | | 6,442 | | | | 5,043 | | | | 12,985 | | | | 9,833 | |
Total operating expenses | | 130,591 | | | | 113,478 | | | | 257,192 | | | | 233,499 | |
Operating income | | 11,833 | | | | 9,344 | | | | 19,810 | | | | 17,768 | |
Intercompany charges by GPMP 1 | | 1,869 | | | | 1,673 | | | | 3,650 | | | | 3,245 | |
Operating income, as adjusted | $ | 13,702 | | | $ | 11,017 | | $ | | 23,460 | | | $ | 21,013 | |
| | | | | | | | | | | |
1 Represents the estimated fixed fee paid to GPMP for the cost of fuel. | |
The table below shows financial information and certain key metrics of recent acquisitions in the Fleet Fueling Segment that have only partial comparable information for the prior periods.
| For the Three Months Ended June 30, 2024 | | | For the Six Months Ended June 30, 2024 | |
| WTG 1 | |
| (in thousands) | |
Date of Acquisition: | Jun 6, 2023 | |
Revenues: | | | | | |
Fuel revenue | $ | 18,535 | | | $ | 34,770 | |
Other revenues, net | | 1,028 | | | | 2,198 | |
Total revenues | | 19,563 | | | | 36,968 | |
Operating expenses: | | | | | |
Fuel costs | | 16,065 | | | | 30,803 | |
Site operating expenses | | 1,152 | | | | 2,263 | |
Total operating expenses | | 17,217 | | | | 33,066 | |
Operating income | | 2,346 | | | | 3,902 | |
Intercompany charges by GPMP 2 | | 250 | | | | 482 | |
Operating income, as adjusted | $ | 2,596 | | | $ | 4,384 | |
Fuel gallons sold | | 5,177 | | | | 9,733 | |
| | | | | |
1 Includes only the fleet fueling business acquired in the WTG acquisition. | |
| | | | | |
2 Represents the estimated fixed fee paid to GPMP for the cost of fuel. | |
![big](https://usnewsfile.moomoo.com/public/MM-PersistNewsContentImage/7781/20240808/0-432b2ced94a041cce6de85cc04872911-0-307df39a09124650e968e3ff72ffc021.jpg/big)
Source: ARKO CORP.
Released August 6, 2024
ARKO公司公布2024年第二季度财报。
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8月6日,2024年,下午4点05分EDT
2024年8月6日下午4:05 EDt,维吉尼亚州里士满,2024财年第二季度财务报告在全球新闻广播网(GLOBE NEWSWIRE)上发布。ARKO公司(Nasdaq:ARKO)(“ARKO”或“公司”)是财富500强企业和美国最大的便利店运营商之一,今天宣布了截至2024年6月30日的第二季度财务业绩。
2024年第二季度要点摘要(与上年同期相比)1,2
- 本季度净利润为1410万元,而去年同期为1450万元。最近的收购和较高的燃油利润部分抵消了加仑需求的持续下降和较低的同店商品销售贡献。
- 本季度调整后的EBITDA为8380万元,去年同期为8620万元,高于公司此前发布的7000万至7700万元的预期,这是由于每加仑零售燃油利润增加所推动的。
- 商品营业收入减少了2.1%至47420万元,最近的收购的商品销售增量抵消了同店商品销售的中单位数下降。
- 商品销售利润率扩大了约90个基点至32.8%,得到关键营销和销售方面的支持;
- 商品销售贡献增加0.7%至15580万元;
- 零售燃料贡献增加了1.2%至11800万元,部分原因是最近的收购部分抵消了同店燃油的加仑下降。
- 零售燃油利润每加仑增加到41.6美分,而同店燃油加仑销售量下降了6.6%,与全国OPIS同站燃油加仑销售量下降约4.2%相比;
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请参见下面的非GAAP措施。
所有燃料贡献和燃料利润每加仑的数字均不包括支付给公司的批发燃料分配子公司GPm Petroleum LP(“GPMP”)的估计固定利润或固定费用的内部公司费用。
其他主要亮点
- 作为ARKO加速有机增长战略的一部分,公司将继续制定其为期数年的转型计划,该计划预计包括以下要素:
- 将针对零售店的某些战略子领域进行更有针对性的资本分配,以促进流量增长和盈利能力的提高。公司计划根据目前正在开发的试点计划分配资金,该计划旨在提高客户体验和价值主张,可能包括更广泛的精细提供服务,特别是食品以及增强的店内体验。当前,试点将关注一个地区内的七个商店,公司目标是在公司的零售网络中扩大此计划的范围。公司预计将在2024年第四季度开始在试点商店中实施新设计。
- 在公司的零售店中更加注重定价和采购战略,以支持商品销售利润率持续增长;
- 通过更积极地将公司的多段营运模式转化为公司零售部门内的经销商站点,从而利用公司的独特优势。在公司审核了其零售店铺的组合后,确定了许多零售店铺可用于潜在转换,预计转换后可获得更高的盈利能力。到2024年第三季度结束时,公司预计已将约40家零售店铺转换为经销商站点,其中少数已于2024年第二季度结束时进行转换。
有关公司为期数年的转型计划的其他细节将在2024年第四季度安排的公司投资者日上提供。将在稍后的日期共享详细信息。
- 公司持续推出加强的食品项目,包括以Nathan’s Famous为其100%所有物的高品质热狗和滚筒炸锅项目为核心的重新推出计划,已扩展到超过460家零售店;
- 董事会宣布每股普通股股息为0.03美元,将于2024年8月30日支付给截至2024年8月19日持股的股东。
“本季度我们继续与客户共同应对具有挑战性的宏观经济环境,”ARKO的董事长、总裁兼首席执行官Arie Kotler表示,“我们继续看到消费者面临通货膨胀和日常商品高价的压力,尤其是在有大量低收入消费者的市场。虽然这对我们的零售销售产生了负面影响,但我们的团队努力控制同店销售费用并利用我们与强大供应商合作关系,提供所需的价值给我们的客户。当与较高的燃料毛利结合起来,我们超出了第二季度的调整后利息、税项、折旧及摊销前利润及折旧前利润指引。”
Kotler先生继续说道:“我们致力于强有力的执行、增强客户价值以及提高店铺经济效益,这仍然是我们的首要任务。我们已经做好了充分准备,应对近期的宏观风险,并且我们仍然相信ARKO的长期机会。我们预计持续改进我们的运营将引导我们应对当前环境,同时还为我们的多年转型计划奠定基础。”
2024年第二季度业务亮点
零售
| 为期三个月的时间 截至6月30日 | | | 六个月的时间结束了 截至6月30日 | |
| 2024 | | | 2023 | | | 2024 | | | 2023 | |
| (以千为单位) | |
燃油加仑出售 | | 283,481 | | | | 293,584 | | | | 538,945 | | | | 542,490 | |
同店销售的燃料加仑数下降(%)1 | | (6.6%) | | | | (2.6%) | | | | (6.6%) | | | | (4.2%) | |
燃油贡献值2 | $ | 117,981 | | | $ | 116,624 | | | $ | 210,914 | | | $ | 204,720 | |
每加仑燃油的毛利,以美分计3 | | 41.6 | | | | 39.7 | | | | 39.1 | | | | 37.7 | |
同店销售的燃油贡献值1,2 | $ | 111,433 | | | $ | 114,746 | | | $ | 193,481 | | | $ | 199,578 | |
同店零售商品销售额(下降)增加(%)1 增加(%) 1 | | (5.1%) | | | | 0.7% | | | | (4.6%) | | | | 2.1% | |
同店零售商品销售额,不含香烟(下降)增加(%)1 香烟(减少)增加(%) 1 | | (4.0%) | | | | 3.8% | | | | (3.5%) | | | | 5.6% | |
营业收入 | $ | 474,248 | | | $ | 484,561 | | | $ | 888,903 | | | $ | 884,849 | |
商品贡献4 | $ | 155,759 | | | $ | 154,658 | | | $ | 290,677 | | | $ | 277,623 | |
商品利润率5 | | 32.8% | | | | 31.9% | | | | 32.7% | | | | 31.4% | |
同店商品贡献1,4 | $ | 148,093 | | | $ | 152,256 | | | $ | 266,769 | | | $ | 270,070 | |
同店站点营业费用1 | $ | 192,258 | | | $ | 193,185 | | | $ | 364,877 | | | $ | 360,297 | |
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1 同店是便利店行业常用的指标。我们认为,自上一年度第一季度以来,店铺已经进行了整整一季度的活动,“同店”即开始了。请参阅下文的非普通会计原则措施讨论。 | |
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2 计算方法为燃料收入减去燃料成本;不包括支付给GPMP的估计固定利润或固定费用。 | |
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计算为燃料贡献除以燃油加仑。 | |
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计算为商品收入减去商品成本。 | |
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计算为商品贡献除以商品收入。 | |
2024年第二季度的总商品贡献增加了110万美元,同比增长0.7%,主要是由于最近收购的商品贡献增加了560万美元,部分抵消了同店商品贡献的下降。同店商品贡献的下降主要是由于某些核心目的地类别的贡献减少,以及香烟贡献的下降。
2024年第二季度的商品利润率提高了90个基点,达到32.8%,得益于重点营销和商品策略。
2024年第二季度的零售燃料贡献增加了140万美元,达到1.18亿美元,较去年同期增长1.9美分/加仑的41.6美分/加仑,最近收购的燃料贡献约为500万美元,部分抵消了同店燃料贡献的下降。
批发
| 为期三个月的时间 截至6月30日 | | | 六个月的时间结束了 截至6月30日 | |
| 2024 | | | 2023 | | | 2024 | | | 2023 | |
| (以千为单位) | |
燃料加仑数-燃料供应点 | | 203,561 | | | | 213,136 | | | | 390,292 | | | | 395,563 | |
燃料加仑数-寄售代理位置 | | 39,338 | | | | 44,534 | | | | 76,842 | | | | 82,496 | |
燃料贡献1-燃料供应点 | $ | 12,287 | | | $ | 12,518 | | | $ | 23,849 | | $ | | 23,674 | |
燃料贡献1-寄售位置 | $ | 11,699 | | | $ | 11,266 | | | $ | 20,867 | | $ | | 21,305 | |
燃料利润,每加仑2-燃料供应点 | | 6.0 | | | | 5.9 | | | | 6.1 | | | | 6.0 | |
燃料利润,每加仑2-寄售代理位置 | | 29.7 | | | | 25.3 | | | | 27.2 | | | | 25.8 | |
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计算为燃料收入减去燃料成本;不包括支付给GPMP的估计固定利润或固定费用。 | |
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燃料贡献除以售出的燃油加仑数计算。 | |
在批发方面,2024年第二季度的总燃料贡献约为2400万美元。 燃料贡献在2024年和2023年的第二季度相似。 其他收入净额由于供应商折扣而增加了约70万美元。2024年第二季度,站点营运费用比去年同期减少了60万美元,主要是由于更低的信用卡费用。
承运车队加油
| 为期三个月的时间 截至6月30日 | | | 六个月的时间结束了 截至6月30日 | |
| 2024 | | | 2023 | | | 2024 | | | 2023 | |
| (以千为单位) | |
专营卡锁车站售出的燃油加仑数 | | 35,678 | | | | 32,417 | | | | 69,127 | | | | 63,433 | |
第三方卡锁车站售出的燃油加仑数 | | 3,271 | | | | 2,036 | | | | 6,470 | | | | 3,646 | |
燃油贡献1 - 专营卡锁车站 | $ | 17,529 | | | $ | 14,229 | | | $ | 31,198 | | $ | | 28,042 | |
燃油贡献1 - 第三方卡锁车站 | $ | 331 | | | $ | 155 | | | $ | 578 | | $ | | 177 | |
专营卡锁车站的燃油毛利润,每加仑2美分 地点 | | 自由现金流-非常规调整后(11.0)亿美元 | | | | 43.9 | | | | 45.1 | | | | 44.2 | |
第三方卡锁车站的燃油毛利润,每加仑2美分 地点 | | 10.1 | | | | 7.7美元 | | | | 8.9 | | | | 4.9 | |
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燃油收入减去燃料成本计算;不包括支付给GPMP的燃料成本的预估固定费用。 | |
| | | | | | | | | | | |
燃料贡献除以售出的燃油加仑数计算。 | |
第二季度燃料贡献约为1790万美元,同比增长24.2%。专营卡锁车站的燃油毛利润比2023年第二季度增加了5.2美分每加仑。相比2023年第二季度,第三方卡锁车站的燃油毛利润在第二季度增加了2.4美分每加仑。这些变化主要是由于销售量增加和WTG收购的卡锁车站。
站点营业费用
截至2024年6月30日的本季度,便利店运营费用增加了480万美元,同比增长2.4%,主要是由于最近收购的740万美元的额外费用。同店维持费用从去年同期下降了90万美元,即下降了0.5%,主要涉及人员费用减少和信用卡费用减少。站点运营费用的增加部分被关闭或转换为经销商的低效零售店所抵消。
流动性和资本支出
截至2024年6月30日,公司的总流动资金约为80600万美元,包括约23200万美元的现金及现金等价物和约57400万美元的可用信贷额度。未偿还债务为89000万美元,因此,净债务(不包括租赁相关融资负债)约为65800万美元。本季度的资本支出约为1930万美元。
季度股息和股票回购计划
公司通过其现金股息计划和股票回购计划向其股东返还现金的能力,与其资本配置框架一致,反映了公司对其现金产生能力和强大的财务状况的信心。
董事会宣布每股普通股股息为0.03美元,将于2024年8月30日支付给截至2024年8月19日持股的股东。
在第二季度,董事会批准将公司股份回购计划扩大至1.25亿美元,高于1亿美元。截至2024年6月30日,股份回购计划剩余约2570万美元。
公司营运的零售店数量和部门更新
下表呈现了有关零售、批发和车队加油部门变化情况的部分信息:
| 为期三个月的时间 截至6月30日 | | | 六个月的时间结束了 截至6月30日 | |
零售业务 | 2024 | | | 2023 | | | 2024 | | | 2023 | |
期初站点数 | | 1,540 | | | | 1,531 | | | | 1,543 | | | | 1,404 | |
已收购的站点 | | 21 | | | | 24 | | | | 21 | | | | 159 | |
新开或重新开业的站点 | | — | | | | 2 | | | | 1 | | | | 3 | |
公司控制的站点被转换为 | | | | | | | | | | | |
委托销售或燃料供应地点,净增数量 | | (2) | | | | (6) | | | | (2) | | | | (11) | |
关闭、转移或处置的站点 | | (11) | | | | (4) | | | | (15) | | | | (8) | |
期末站点数 | | 所有板块 | | | | 1,547 | | | | 所有板块 | | | | 1,547 | |
| 为期三个月的时间 截至6月30日 | | | 六个月的时间结束了 截至6月30日 | |
批发部门 1 | 2024 | | | 2023 | | | 2024 | | | 2023 | |
期初站点数 | | 1,816 | | | | 1,841 | | | | 1,825 | | | | 1,674 | |
已收购的站点 | | — | | | | 9 | | | | — | | | | 190 | |
新开或重新开业的站点 2 | | 11 | | | | 17 | | | | 20 | | | | 24 | |
由公司控制或车队加油站转换而来的委托销售或燃料供应地点,净增数量 | | | | | | | | | | | |
关闭、搬迁或剥离的站点 | | 2 | | | | 6 | | | | 2 | | | | 11 | |
关闭、转移或处置的站点 | | (35) | | | | (49) | | | | (53) | | | | (75) | |
期末站点数 | | 1,794 | | | | 1,824 | | | | 1,794 | | | | 1,824 | |
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1 不包括散货和现货采购商。 | |
2 包括所有签订的燃料供应协议,不考虑燃料分配开始日期。 | |
| 为期三个月的时间 截至6月30日 | | | 六个月的情况 截至6月30日 | |
车队加油业务部 | 2024 | | | 2023 | | | 2024 | | | 2023 | |
期初站点数 | | 296 | | | | 183 | | | | 298 | | | | 183 | |
已收购的站点 | | — | | | | 111 | | | | - | | | | 111 | |
关闭、转移或处置的站点 | | (2) | | | | (1) | | | | (4) | | | | (1) | |
期末站点数 | | 294 | | | | 293 | | | | 294 | | | | 293 | |
非GAAP定义的变化;2024年第三季度和全年指引
从2024年第三季度开始,公司对其调整后的EBITDA定义进行了一些变更,影响了该计量标准与之前的周期可比性。具体地,公司不再在调整后的EBITDA的计算中包含非现金租金费用调整。因此,公司2024年第三季度调整后的EBITDA和2024年全年调整后的EBITDA指引反映了公司更新后的EBITDA定义。请参见下方的“非GAAP财务信息补充披露”以了解2024年第三季度之前的定义调整,以便让所有呈现周期与新定义进行对比。
公司目前预计2024年第三季度的调整后EBITDA利润,使用修订后的计算方法,将在7000万美元和8600万美元之间,平均零售燃油毛利区间为每加仑38到44美分,已包括大约350万美元的非现金租金支出。
公司目前预计2024年全年的调整后EBITDA利润,使用修订后的计算方法,将在23500万美元和27500万美元之间,已包括大约1500万美元的非现金租金支出。这个指南直接转化为公司维持其历史计算方法下的全年EBITDA范围为25000万美元至29000万美元。公司全年EBITDA范围假设零售平均燃油毛利区间为每加仑37至45美分的后半年。
公司目前不提供净收益指引,因为某些必需的输入存在波动,而这些输入在没有不合理努力的情况下不可用,包括与股票价格相关的未来公允价值调整,以及与其资本配置相关的折旧和摊销,作为加速有机增长重点的一部分。
电话会议和网络直播细节
公司将于东部时间下午5:00举行电话会议讨论这些结果。有兴趣参加现场电话的投资者和分析师可以拨打800-245-3047或203-518-9765。
同时,公司网站的投资者关系部分也将提供直播网络研讨会。网络研讨会将存档30天。
ARKO Corp. (纳斯达克:ARKO) 是一家Fortune 500公司,全资拥有GPM Investments,LLC,是美国便利店和燃油批发商中最大的运营商之一。总部位于弗吉尼亚州里士满市,我们极具辨识度的社区品牌系列提供美味的预制食品、啤酒、零食、糖果、冷热饮料和多个受欢迎的快餐品牌。我们的高价值fas REWARDS忠诚计划可以为商品和汽油提供独家优惠。我们分为四个报告段:零售,包括向零售客户销售商品和燃油产品的便利店;批发,向独立经销商和寄售代理商提供燃料;GPM石化公司向我们的零售和批发站点销售和供应燃料,并向我们的车队加油站收取固定费用;车队加油站,包括使用专有和第三方卡锁位置和发行专有加油卡,为客户提供访问遍布全国的加油站网络。要了解有关GPM店铺的更多信息,请访问:。要了解更多有关ARKO的信息,请访问:
ARKO股份有限公司(Nasdaq:ARKO)是一家财富500强公司,拥有GPm Investments, LLC的100%,并且是美国最大的便利店和燃料批发商之一。总部位于弗吉尼亚州里士满,我们经营一个社区品牌家族,提供美味的现制食品、啤酒、小吃、糖果、热和冷饮料以及多个受欢迎的快餐品牌。我们高价值的fas REWARDS会员计划为商品和汽油提供独家折扣。我们分为四个报告板块:零售部门,包括向零售客户销售商品和燃料产品的便利店;批发部门,向独立经销商和寄售代理商提供燃料;GPm石油部门,向我们的零售和批发站点销售和供应燃料,并收取固定费用,主要用于我们的车队燃料加注站;以及车队燃料部门,包括专有和第三方卡锁定位置的运营,并发行提供客户访问全国燃料站网络的专有燃料卡。要了解有关GPm商店的更多信息,请访问: 了解更多关于ARKO的信息,请访问: 。
前瞻性声明
这份文件包括某些"前瞻性陈述",这些前瞻性陈述可能涉及公司预期的财务和营运结果以及相关的假设。这些前瞻性陈述的特征在于使用"预计"、"瞄准"、"认为"、"继续"、"能够"、"估计"、"期望"、"指导"、"打算"、"可能"、"可能"、"计划"、"可能的"、"潜在的"、"预测"、"项目"、"应该"、"将"和这些术语的否定形式,以及对未来时期的类似参照。这些声明基于管理层目前的预期,并且可能因不确定性和变化的情况而有所不同。由于经济、商业和市场环境的变化;公司维持其普通股和认股权证在纳斯达克股票市场上的上市交易能力;公司的战略、未来经营、财务状况、估计的收入和损失、预计的成本、前景和计划;扩张计划和机会;它所竞争的市场的变化;适用法律或法规的变化,包括与环境有关的法律或法规;市场条件和全球和经济因素超出其控制范围;以及任何已知或未知诉讼和监管诉讼的结果,实际结果可能因而有所不同。有关这些因素和其他重要因素的详细信息可在该公司向证券交易委员会提交的文件中找到,例如10-K表、10-Q表和8-K表。
使用非通用会计准则衡量指标
公司以“同店比”进行披露某些措施,这是一种非GAAP措施。在“同店比”上披露的信息排除了适用期间非“同店比”店铺的结果。从上一年的首个季度开始,将店铺视为“同店铺”。公司认为,这一信息可更好地反映其持续经营绩效的可比性。不应将这些措施或下面描述的那些措施视为美国通用会计准则(“GAAP”)报告的衡量标准的替代品。
公司将EBITDA定义为净收入减去净利息费用、所得税、折旧和摊销费用。调整后的EBITDA通过排除处置资产的收益或损失、资产减值损失、收购成本、按股份计算的补偿费用、其他非现金项目以及其他非常规或非经常性费用来进一步调整EBITDA。经营收入、调整后的EBITDA和EBITDA是一种非GAAP财务衡量指标。
在板块的层面上,公司将经营收入视为经调整的经营收入,该收入不包括为成本支付的GPMP的估计定价或固定费用。
公司在运营和财务决策中使用EBITDA和调整后的EBITDA,并认为这些措施在评估其性能时很有用,因为它们消除了一些不被视为其经营性能指标的项目。此外,公司认为,调整后的经营收入通过消除板块层面上的公司间收费,提供更好的可比性,反映了其不断进展的绩效。很多投资者、证券分析师和其他感兴趣的方面在跨报告时期评估公司的经营和财务绩效,使用EBITDA和调整后的EBITDA。公司认为,EBITDA和调整后的EBITDA的呈现为投资者提供了有用的信息,因为它们允许了解其用于内部运营决策、预算编制、评估收购目标和评估其经营绩效的关键措施。经营收入、调整后的EBITDA和EBITDA不是GAAP认可的术语,不应将其视为净收入或按照GAAP呈现的任何其他财务指标的替代品。这些措施作为分析工具具有局限性,不应孤立地或作为分析公司根据GAAP呈现的结果的替代品进行考虑。公司强烈建议投资者全面审查其财务报表和公开披露的报告,而不是仅仅依赖任何单一的财务措施。
经调整的经营收入、EBITDA和调整后的EBITDA不是GAAP认可的术语,不应将其视为净收入或按照GAAP呈现的任何其他财务指标的替代品。这些措施具有分析工具的限制,不应孤立地或作为分析公司根据GAAP呈现的结果的替代品进行考虑。公司强烈建议投资者全面审查其财务报表和公开披露的报告,而不是仅仅依赖任何单一的财务措施。
由于非GAAP财务措施不标准化,“同店比”措施、经调整的经营收入、EBITDA和调整后的EBITDA等被公司定义的措施可能与其他公司报告的同名措施无法进行比较。因此,不可能比较公司使用这些非GAAP财务措施与其他公司使用的情况。
非GAAP定义的变化
从2024年7月1日开始,公司对调整后的EBITDA进行了一些变更,影响了指标与之前时期的可比性。具体来说,公司将不再将非现金租金费用调整计入调整后的EBITDA计算中。因此,2024年第三季度和全年的调整后EBITDA指引反映了公司更新的调整后EBITDA定义。请参见下方的“非GAAP财务信息补充披露”以了解在2024年7月1日之前的定义与所有呈现期间的新定义进行逐一比较的调和。
公司联系方式
Jordan Mann
ARKO Corp.
investors@gpminvestments.com
投资者联系方式
Sean Mansouri,CFA
提高IR
(720) 330-2829
ARKO@elevate-ir.com
| | | |
| | 简明的汇总操作表 | |
| | | | | | |
| | 为期三个月的时间 截至6月30日 | | | 六个月的时间结束了 截至6月30日 | |
| | 2024 | | | 2023 | | | 2024 | | | 2023 | |
| | (以千为单位) | |
营收: | | | | | | | | | | | | |
燃料营业收入 | | $ | 1,887,531 | | $ | | 1,957,100 | | | $ | 3,518,863 | | $ | | 3,618,764 | |
营业收入 | | | 474,248 | | | | 484,561 | | | | 888,903 | | | | 884,849 | |
其他收益,净额 | | | 26384 | | | | 27,480 | | | | 52,851 | | | | 53,904 | |
总收入 | | | 2,388,163 | | | | 2,469,141 | | | | 4,460,617 | | | | 4,557,517 | |
营业费用: | | | | | | | | | | | | |
步骤#1:评估信用评分 | | | 1,726,761 | | | | 1,801,103 | | | | 3,229,063 | | | | 3,338,985 | |
商品成本 | | | 318,489 | | | | 329,903 | | | | 598,226 | | | | 607,226 | |
站点营业费用 | | | 223,691 | | | | 218,002 | | | | 442,622 | | | | 410,685 | |
一般及管理费用 | | | 42,436 | | | | 42,660 | | | | 84,594 | | | | 83,076 | |
折旧和摊销 | | | 33,577 | | | | 32,837 | | | | 65,293 | | | | 61,236 | |
营业费用总计 | | | 2,344,954 | | | | 2,424,505 | | | | 4,419,798 | | | | 4,501,208 | |
其他费用, 净额 | | | 261 | | | | 4,956 | | | | 2,737 | | | | 7,676 | |
营业利润 | | | 42,948 | | | | 39,680 | | | | 38,082 | | | | 48,633 | |
利息及其他金融收益 | | | 3,384 | | | | 2,428 | | | | 25,297 | | | | 9,630 | |
利息和其他金融费用 | | | (24,751) | | | | (22,588) | | | | (49,121) | | | | (43,392) | |
税前收入 | | | 21,581 | | | | 19,520 | | | | 14,258 | | | | 14,871 | |
所得税费用 | | | (7,546) | | | | (5,014) | | | | (839) | | | | (2,856) | |
权益投资收益(损失) | | | 28 | | | | (27) | | | | 50 | | | | (63) | |
净收入 | | $ | 14,063 | | $ | | 14,479 | | | $ | 13,469 | | $ | | 11,952 | |
净利润归属于非控制权益 | | | — | | | | 48 | | | | — | | | | 101 | |
净利润归属于ARKO Corp。 | | $ | 14,063 | | $ | | 14,431 | | | $ | 13,469 | | $ | | 11,851 | |
A系列可赎回优先股股息 | | | (1,445) | | | | (1,434) | | | | (2,859) | | | | (2,852) | |
净利润归属于普通股股东 | | $ | 12,618 | | $ | | 12,997 | | | $ | 10,610 | | $ | | 8,999 | |
每股普通股基本收益 | | $ | 0.11 | | | $ | 0.11 | | | $ | 0.09 | | | $ | 0.07 | |
每股普通股摊薄收益 | | $ | 0.11 | | | $ | 0.11 | | | $ | 0.09 | | | $ | 0.07 | |
加权平均股数: | | | | | | | | | | | | |
基本 | | | 115,758 | | | | 119,893 | | | | 116,512 | | | | 120,073 | |
摊薄 | | | 116,880 | | | | 121,280 | | | | 117,073 | | | | 120,767 | |
| | |
| 压缩合并资产负债表 | |
| | | | | |
| 2024年6月30日 | | | 2023年12月31日 | |
| (以千为单位) | |
资产 | | | | | |
流动资产: | | | | | |
现金及现金等价物 | $ | 231,647 | | | $ | 218,120 | |
受限现金 | | 19,392。 | | | | 23,301 | |
短期投资 | | 4,860 | | | | 3,892 | |
交易应收账款净额 | | 155,578 | | | | 134,735 | |
库存 | | 251,142 | | | | 250,593 | |
其他资产 | | 107,145 | | | | 118,472 | |
总流动资产 | | 769,764 | | | | 749,113 | |
非流动资产: | | | | | |
资产和设备,净值 | | 740,004 | | | | 742,610 | |
营运租赁下的使用权资产 | | 1,418,778 | | | | 1,384,693 | |
融资租赁下的使用权资产,净值 | | 160,280 | | | | 162,668 | |
商誉 | | 299,972 | | | | 292,173 | |
无形资产, 净额 | | 194,151 | | | | 214,552 | |
股权投资 | | 2,935 | | | | 2,885 | |
递延税款资产 | | 60,822 | | | | 52,293 | |
其他非流动资产 | | 限制股票单位达53163股。 | | | | 49,377 | |
总资产 | $ | 3,699,869 | | | $ | 3,650,364 | |
负债 | | | | | |
流动负债: | | | | | |
1,993 | $ | 18,184 | | | $ | 16,792 | |
应付账款 | | 239,169 | | | | 213,657 | |
其他流动负债 | | 151,434 | | | | 179,536 | |
经营租赁,短期部分 | | 68,725 | | | | 67,053 | |
融资租赁,短期部分 | | 10,856 | | | | 9,186 | |
流动负债合计 | | 488,368 | | | | 486,224 | |
非流动负债: | | | | | |
长期借款,净 | | 871,678 | | | | 828,647 | |
资产退役义务 | | 86,872 | | | | 84,710 | |
经营租赁 | | 1,434,238 | | | | 1,395,032 | |
融资租赁 | | 211,760 | | | | 213,032 | |
其他非流动负债 | | 233,852 | | | | 266,602 | |
负债合计 | | 3,326,768 | | | | 3,274,247 | |
| | | | | |
A股可赎回优先股 | | 100,000 | | | | 100,000 | |
| | | | | |
股东权益: | | | | | |
普通股 | | 12 | | | | 12 | |
自家保管的股票 | | 交易应收帐款的减少(增加) | | | | (74,134) | |
额外实收资本 | | 270,455 | | | | 245,007 | |
累计其他综合收益 | | 9,119 | | | | 9,119 | |
保留盈余 | | 99,638 | | | | 784,926 | |
股东权益合计 | | 273,101 | | | | 276,101 | |
非控制权益 | | — | | | | 16 | |
股东权益总计 | | 273,101 | | | | 276117
| |
总负债、可赎回优先股和股权 | $ | 3,699,869 | | | $ | 3,650,364 | |
| | | |
| | 简明的综合现金流量表 | |
| | | | | | | | | | | | |
| | 为期三个月的时间 截至6月30日 | | | 六个月的时间结束了 截至6月30日 | |
| | 2024 | | | 2023 | | | 2024 | | | 2023 | |
| | (以千为单位) | |
经营活动现金流量: | | | | | | | | | | | | |
净收入 | | $ | 14,063 | | | $ | 14,479 | | | $ | 13,469 | | | $ | 11,952 | |
调整净利润以计入经营活动现金流量: | | | | | | | | | | | | |
折旧和摊销 | | | 33,577 | | | | 32,837 | | | | 65,293 | | | | 61,236 | |
延迟所得税 | | | 4,146 | | | | (3,885) | | | | (5,929) | | | | (14,115) | |
资產处置损失和资产减值损失 | | | 721 | | | | 2,991 | | | | 3,385 | | | | 3,278 | |
外币损失 | | | 30 | | | | 24 | | | | 57 | | | | 58 | |
因业务收购作为递延对价发行股份取得的收益 | | | — | | | | — | | | | (2,681) | | | | — | |
因业务收购结算取得的收益 | | | — | | | | — | | | | (6,356) | | | | — | |
延期融资成本和贴现债务摊销 | | | 668 | | | | 621 | | | | 1,332 | | | | 1,213 | |
递延收益的摊销 | | | (4,423) | | | | (2,069) | | | | (6,369) | | | | (3,929) | |
资产退休责任的累积 | | | 627 | | | | 627 | | | | 1,243 | | | | 1,118 | |
非现金租金 | | | 3,687 | | | | 3,760 | | | | 7,171 | | | | 6,558 | |
为信贷损失拨备进行的计提费用 | | | 314 | | | | 290 | | | | 641 | | | | 573 | |
权益投资的净收益(损失) | | | (28) | | | | 27 | | | | (50) | | | | 63 | |
股权酬金 | | | Streamline和Glidelogic Corp.拥有同一最终控制人-马大鹏先生和薛一天先生。虽然他们在Streamline拥有多数股权,但他们共同拥有Star Success Business, LLC的100%股份,该公司拥有Glidelogic公司75%的权益。 | | | | 4,555 | | | | 6,113 | | | | 8,624 | |
金融资产和负债的公允价值变动 | | | (1,434) | | | | (1,020) | | | | (12,206) | | | | (5,248) | |
其他经营活动,净额 | | | 62 | | | | 647 | | | | 686 | | | | 976 | |
资产和负债变动: | | | | | | | | | | | | |
购买无形资产 | | | 2,820 | | | | (6,991) | | | | (21,484) | | | | (18,173) | |
存货的减少(增加) | | | 2,584 | | | | (5,363) | | | | 2,772 | | | | (8,208) | |
其他资产减少(增加) | | | 748 | | | | (14,510) | | | | 5,843 | | | | (10,965) | |
应付账款的增加 | | | 5,130 | | | | 8,640 | | | | 26,477 | | | | 14,580 | |
其他流动负债减少 | | | (1,772) | | | | (7,524) | | | | (5,924) | | | | (7,651) | |
资产养老义务的(减少)增加 | | | (65) | | | | (21) | | | | (120) | | | | 46 | |
非流动负债增加 | | | 12,980 | | | | 1,988 | | | | 16,611 | | | | 4,000 | |
经营活动产生的现金流量净额 | | | 77,219 | | | | 30,103 | | | | 89,974 | | | | 45,986 | |
投资活动现金流量: | | | | | | | | | | | | |
购置固定资产等资产支出 | | | (19,284) | | | | (26,658) | | | | (48,512) | | | | (50,038) | |
收购成本(b) | | | — | | | | (35) | | | | — | | | | (35) | |
出售固定资产的收益 | | | 48,256 | | | | 88,049 | | | | 50,295 | | | | 296,485 | |
业务收购,净现金 | | | (53,458) | | | | (143,294) | | | | (54,458) | | | | (481,636) | |
权益投资贷款,净额 | | | 14 | | | | — | | | | 28 | | | | — | |
投资活动产生的净现金流出 | | | (24,472) | | | | (81,938) | | | | (52,647) | | | | (235,224) | |
筹集资金的现金流量: | | | | | | | | | | | | |
长期债务收款,净额 | | | 5,968 | | | | 19,233 | | | | 47,556 | | | | 74,233 | |
偿还债务 | | | (7,214) | | | | (4,919) | | | | (13,849) | | | | (10,511) | |
融资租赁的本金偿还 | | | (1,171) | | | | (1,494) | | | | (2,306) | | | | (2,912) | |
与业务收购相关的递延补偿款提前结算 | | | — | | | | — | | | | (17,155) | | | | — | |
售后回租收益 | | | — | | | | 28,793 | | | | — | | | | 80,397 | |
支付阿瑞斯看跌期权 | | | — | | | | (9,808) | | | | — | | | | (9,808) | |
已回购普通股 | | | (68) | | | | (11,253) | | | | (31,989) | | | | (13,563) | |
普通股股息支付 | | | (3,473) | | | | (3,607) | | | | (7,069) | | | | (7,216) | |
赎回优先股支付的分红派息 | | | (1,445) | | | | (1,434) | | | | (2,859) | | | | (2,852) | |
筹资活动的净现金流量(使用)/提供的净现金流量 | | | (7,403) | | | | 15,511 | | | | (27,671) | | | | 107,768 | |
现金及现金等价物和受限制的现金净增(减)额 | | | 45,344 | | | | (36,324) | | | | 9,656 | | | | (81,470) | |
汇率对现金及现金等价物和受限现金的影响 | | | (19) | | | | — | | | | (38) | | | | (21) | |
现金及现金等价物和受限制的现金期初余额 | | | 205,714 | | | | 271,602 | | | | 241,421 | | | | 316,769 | |
现金及现金等价物和受限制的现金期末余额 | | $ | 251,039 | | | $ | 235,278 | | | $ | 251,039 | | | $ | 235,278 | |
补充透露的非GAAP财务信息
| | EBITDA和调整后的EBITDA的调和 | |
| | | | | | | | | | | | |
| | 为期三个月的时间 截至6月30日 | | | 六个月的时间结束了 截至6月30日 | |
| | 2024 | | | 2023 | | | 2024 | | | 2023 | |
| | (以千为单位) | |
净收入 | | $ | 14,063 | | | $ | 14,479 | | | $ | 13,469 | | | $ | 11,952 | |
利息和其他融资费用,净额 | | | 21,367 | | | | 20,160 | | | | 23,824 | | | | 33,762 | |
所得税费用 | | | 7,546 | | | | 5,014 | | | | 839 | | | | 2,856 | |
折旧和摊销 | | | 33,577 | | | | 32,837 | | | | 65,293 | | | | 61,236 | |
EBITDA | | | 76,553 | | | | 72,490 | | | | 103,425 | | | | 109,806 | |
非现金租金支出(a) | | | 3,687 | | | | 3,760 | | | | 7,171 | | | | 6,558 | |
收购成本(亿) | | | 1,510 | | | | 3,277 | | | | 2,190 | | | | 6,853 | |
资产处置和减值损失 (c) | | | 721 | | | | 2,991 | | | | 3,385 | | | | 3,278 | |
股权补偿支出(d) | | | Streamline和Glidelogic Corp.拥有同一最终控制人-马大鹏先生和薛一天先生。虽然他们在Streamline拥有多数股权,但他们共同拥有Star Success Business, LLC的100%股份,该公司拥有Glidelogic公司75%的权益。 | | | | 4,555 | | | | 6,113 | | | | 8,624 | |
股权投资的收益(损失)(e) | | | (28) | | | | 27 | | | | (50) | | | | 63 | |
应收燃油税款 (f) | | | — | | | | — | | | | (565) | | | | — | |
待定考虑因素的调整量 (g) | | | (310) 826-5648 | | | | (922) | | | | (292) | | | | (1,624) | |
其他 (h) | | | (1,160) | | | | 64 | | | | (971) | | | | 168 | |
经过2024年6月30日定义的调整后的调整后的税前收益 | | $ | 83,757 | | | $ | 86,242 | | | $ | 120,406 | | | $ | 133,726 | |
非现金租金支出(a) | | | (3,687) | | | | (3,760) | | | | (7,171) | | | | (6,558) | |
自2024年7月1日起开始定义的调整后的调整后的EBITDA | | $ | 80,070 | | | $ | 82,482 | | | $ | 113,235 | | | $ | 127,168 | |
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(a)消除租赁费用的非现金部分,该部分反映了我们的GAAP租赁费用确认超过(或少于)我们的现金租赁支付的程度。GAAP租赁费用调整根据我们的租赁组合的条款而异。对于更新的租约,我们确认的租费支出通常超过了我们的现金租金支付,而对于更成熟的租约,确认的租费支出通常少于我们的现金租金支付。从2024年7月1日开始,这些费用将不再是调整Adjusted EBITDA定义的一部分。 | |
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(b)消除直接归因于营业收购及执行我们的收购策略和促进收购业务整合的员工薪酬的成本。 | |
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(c)消除与出售固定资产和设备相关的非现金损失,出售相关租赁资产时确认的损失,以及与关闭和不良业绩场所相关的固定资产和使用权资产的减值损失。 | |
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(d)消除与旨在激励、留住和激励我们的员工、某些非员工和董事会成员的股权激励计划相关的非现金股份补偿费用。 | |
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(e)消除由于我们的非合并股权投资而导致的收益(亏损)。 | |
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(f)消除多个先前时期燃油税金额的收入。 | |
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(g)消除应付给卖方的有条件收购对价的公允价值调整,该交易是2020年Empire收购中的对付担保金。 | |
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(h)消除我们不认为在评估运营绩效方面具有意义的其他不寻常或非经常性项目。 | |
分段信息的补充披露
零售业务
| 为期三个月的时间 截至6月30日 | | | 六个月的时间结束了 截至6月30日 | |
| 2024 | | | 2023 | | | 2024 | | | 2023 | |
| (以千为单位) | |
营收: | | | | | | | | | | | |
燃料营业收入 | $ | 976,372 | | $ | | 1,015,365 | | | $ | 1,800,800 | | $ | | 1,858,838 | |
营业收入 | | 474,248 | | | | 484,561 | | | | 888,903 | | | | 884,849 | |
其他收益,净额 | | 16,735 | | | | 18,997 | | | | 33,414 | | | | 37,552 | |
总收入 | | 1,467,355 | | | | 1,518,923 | | | | 2,723,117 | | | | 2,781,239 | |
营业费用: | | | | | | | | | | | |
步骤#1:评估信用评分 | | 872,493 | | | | 913,437 | | | | 1,616,734 | | | | 1,681,245 | |
商品成本 | | 318,489 | | | | 329,903 | | | | 598,226 | | | | 607,226 | |
站点营业费用 | | 202,550 | | | | 197,726 | | | | 400,567 | | | | 373,280 | |
营业费用总计 | | 1,393,532 | | | | 1,441,066 | | | | 2,615,527 | | | | 2,661,751 | |
营业利润 | | 73,823 | | | | 77,857 | | | | 107,590 | | | | 119,488 | |
GPMP 1的公司内部费用 | | 经调整的EBITDA及调整后的EBITDA利润率分别为2000万美元,23%。 | | | | 14,696 | | | | 26,848 | | | | 27,127 | |
营业收入,按调整后 | $ | 87,925 | | | $ | 92,553 | | $ | | 134,438 | | | $ | 146,615 | |
| | | | | | | | | | | |
1代表为燃油成本支付给GPMP的估计固定保证金或固定费用。 | |
下表显示了近期零售业收购的财务信息和某些关键指标,这些收购没有(或仅有部分)任何前期可比信息。
| 截至2024年6月30日止三个月 | |
| 叔叔的 (WTG) 1 | | | Speedy's 2 | | | SpeedyQ 3 | | | 总费用 | |
| (以千为单位) | |
收购日期: | 2023年6月6日 | | | 2023年8月15日 | | | 2024年4月9日 | | | | |
营收: | | | | | | | | | | | |
燃料营业收入 | $ | 20,928 | | $ | | 5,086 | | | $ | 13,356 | | | $ | 39,370 | |
营业收入 | | 10,204 | | | | 2,644 | | | | 811,289 | | | | 19,586 | |
其他收益,净额 | | 263 | | | | 54 | | | | 227 | | | | 544 | |
总收入 | | 31,395 | | | | 7,784 | | | | 20,321 | | | | 59,500 | |
营业费用: | | | | | | | | | | | |
步骤#1:评估信用评分 | | 17,373 | | | | 4,578 | | | | 11,814 | | | | 33,765 | |
商品成本 | | 6,505 | | | | 1,651 | | | | 4,873 | | | | 13,029 | |
站点营业费用 | | 4,603 | | | | 922 | | | | 3,058 | | | | 8,583 | |
营业费用总计 | | 28,481 | | | | 7,151 | | | | 19,745 | | | | 55,377 | |
营业利润 | | 2,914 | | | | 633 | | | | 576 | | | | 4,123 | |
GPMP进行的公司间费用4 | | 294 | | | | 79 | | | | 193 | | | | 566 | |
营业收入,按调整后 | $ | 3,208 | | $ | | 712 | | | $ | 769 | | | $ | 4,689 | |
燃油加仑出售 | | 5,872 | | | | 1,587 | | | | 3,857 | | | | 11,316 | |
燃料收入5 | $ | 3849 | | $ | | 587 | | | $ | 1,735 | | | $ | 6,171 | |
商品收入6 | $ | 3,699 | | $ | | 993 | | | $ | 1,865 | | | $ | 6,557 | |
商品利润率7 | | 36.3% | | | | 37.6% | | | | 27.7% | | | | |
| 截至2024年6月30日六个月 | |
| Uncle's (WTG) 1 | | | Speedy's 2 | | | SpeedyQ 3 | | | 总费用 | |
| (以千为单位) | |
收购日期: | 2023年6月6日 | | | 2023年8月15日 | | | 2024年4月9日 | | | | |
营收: | | | | | | | | | | | |
燃料营业收入 | $ | 40,697 | | $ | | 9,354 | | | $ | 13,356 | | | $ | 63,407 | |
营业收入 | | 19,351 | | | | 4,909 | | | | 811,289 | | | | 30,998 | |
其他收益,净额 | | 491 | | | | 106 | | | | 227 | | | | 824 | |
总收入 | | 60,539 | | | | 14,369 | | | | 20,321 | | | | 95,229 | |
营业费用: | | | | | | | | | | | |
步骤#1:评估信用评分 | | 34,437 | | | | 8,473 | | | | 11,814 | | | | 54,724 | |
商品成本 | | 12,378 | | | | 3,093 | | | | 4,873 | | | | 20,344 | |
营业费用 | | 9,293 | | | | 2,112 | | | | 3,058 | | | | 14,463 | |
营业费用总计 | | 待售金融应收款项准备金 | | | | 13,678 | | | | 19,745 | | | | 89,531 | |
营业利润 | $ | 4,431 | | $ | | 691 | | | $ | 576 | | | $ | 5,698 | |
GPMP 4的集团内费用 | | 585 | | | | 150 | | | | 193 | | | | 928 | |
营业收入,按调整后 | $ | 5,016 | | $ | | 841 | | | $ | 769 | | | $ |
6,626 | |
燃油加仑出售 | | 11,693 | | | | 3,003 | | | | 3,857 | | | | 18,553 | |
燃料收入5 | $ | 6,845 | | $ | | 1,031 | | | $ | 1,735 | | | $ | 9,611 | |
商品收入6 | $ | 拥有的通信塔总数 | | $ | | 1,816 | | | $ | 1,865 | | | $ | 10,654 | |
商品利润率7 | | 36.0% | | | | 37.0% | | | | 27.7% | | | | |
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1. 从WTG Fuels Holdings, LLC("WTG")收购;仅包括收购的零售店。 | |
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2. 收购了七家Speedy的零售店。 | |
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3. 收购了21家SpeedyQ的零售店。 | |
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4. 表示向GPMP支付的预估固定利润,以支付燃料成本。 | |
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5. 计算为燃料收入减去燃料成本;不包括支付燃料成本的预估固定利润。 | |
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6. 计算为商品收入减去商品成本。 | |
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7. 计算为商品利润贡献占商品收入的比例。 | |
批发业务板块
| 为期三个月的时间 截至6月30日 | | | 六个月的时间结束了 截至6月30日 | |
| 2024 | | | 2023 | | | 2024 | | | 2023 | |
| (以千为单位) | |
营收: | | | | | | | | | | | |
燃料营业收入 | $ | 762,693 | | | $ | 811,139 | | | $ | 1,427,207 | | | $ | 1,495,987 | |
其他收益,净额 | | 6,850 | | | | 6,110 | | | | 13,708 | | | | 12,601 | |
总收入 | | 769,543 | | | | 817,249 | | | | 1,440,915 | | | | 1,508,588 | |
营业费用: | | | | | | | | | | | |
步骤#1:评估信用评分 | | 750,846 | | | | 800,286 | | | | 1,405,959 | | | | 1,474,977 | |
站点营业费用 | | 9,566 | | | | 10,196 | | | | 18,865 | | | | 19,294 | |
营业费用总计 | | 760,412 | | | | 810,482 | | | | 1,424,824 | | | | 1,494,271 | |
营业利润 | | 9,131 | | | $ | 6,767 | | | $ | 16,091 | | | $ | 14,317 | |
GPMP 1的公司内部费用 | | 12,139 | | | | 12,931 | | | | 23,468 | | | | 23,969 | |
营业收入,按调整后 | $ | 21,270 | | | $ | 19,698 | | $ | | 39,559 | | | $ | 38,286 | |
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1代表为燃油成本支付给GPMP的估计固定保证金或固定费用。 | |
下表显示只有先前期间的部分可比信息的批发业务近期收购的财务信息和一些关键指标。
| 三个月期间 2024年6月30日截止的季度业绩 | | | 六个月 2024年6月30日截止的季度业绩 | |
| WTG 1 | |
| (以千为单位) | |
收购日期: | 2023年6月6日 | |
营收: | | | | | |
燃料营业收入 | $ | 2,882股 | | | $ | 5,966 | |
其他收益,净额 | | 14 | | | | 29 | |
总收入 | | 2,896 | | | | 5,995 | |
营业费用: | | | | | |
步骤#1:评估信用评分 | | 2,741 | | | | 5,700 | |
站点营业费用 | | 68 | | | | 136 | |
营业费用总计 | | 2,809 | | | | 5,836 | |
营业利润 | | 87 | | | | 159 | |
GPMP 2的公司内部费用 | | 40 | | | | 84 | |
营业收入,按调整后 | $ | 127 | | | $ | 243 | |
燃油加仑出售 | | 811 | | | | 1,682 | |
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1只包括在WTG收购中收购的批发业务。 | |
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2代表支付给GPMP的固定保证金,用于燃料成本。 | |
车队加油业务部
| 为期三个月的时间 截至6月30日 | | | 六个月的时间结束了 截至6月30日 | |
| 2024 | | | 2023 | | | 2024 | | | 2023 | |
| (以千为单位) | |
营收: | | | | | | | | | | | |
燃料营业收入 | $ | 140,140 | | | $ | 121,146 | | | $ | 272,333 | | | $ | 248,640 | |
其他收益,净额 | | 2,284 | | | | 1,676 | | | | 4,669 | | | | 2,627 | |
总收入 | | 142,424 | | | | 122,822 | | | | 277,002 | | | | 251,267 | |
营业费用: | | | | | | | | | | | |
步骤#1:评估信用评分 | | 124,149 | | | | 108,435 | | | | 244,207 | | | | 223,666 | |
站点营业费用 | | 6,442 | | | | 5,043 | | | | 12,985 | | | | 9,833 | |
营业费用总计 | | 130,591 | | | | 113,478 | | | | 257,192 | | | | 233,499 | |
营业利润 | | 11833 | | | | 9,344 | | | | 19,810 | | | | 17,768 | |
GPMP 1的公司内部费用 | | 1,869 | | | | 1,673 | | | | 3,650 | | | | 3,245 | |
营业收入,按调整后 | $ | 13,702 | | | $ | 11,017 | | $ | | 23,460 | | | $ |
21,013
| |
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1代表向GPMP支付的预估固定费用,用于燃料成本。 | |
下表显示最近在Fleet Fueling环节中收购的一些公司的财务信息和某些关键指标,但在往期中仅有部分可比信息。
| 三个月期间 2024年6月30日截止的季度业绩 | | | 六个月 2024年6月30日截止的季度业绩 | |
| WTG 1 | |
| (以千为单位) | |
收购日期: | 2023年6月6日 | |
营收: | | | | | |
燃料营业收入 | $ | 18,535 | | | $ | 34,770 | |
其他收益,净额 | | 1,028 | | | | 2,198 | |
总收入 | | 19,563 | | | | 36,968 | |
营业费用: | | | | | |
步骤#1:评估信用评分 | | 16,065 | | | | 30,803 | |
站点营业费用 | | 1,152 | | | | 2,263 | |
营业费用总计 | | 17,217 | | | | 33,066 | |
营业利润 | | 2,346 | | | | 3,902 | |
GPMP 2的公司内部费用 | | 250 | | | | 482 | |
营业收入,按调整后 | $ | 2,596 | | | $ | 4,384 | |
燃油加仑出售 | | 5,177 | | | | 9,733 | |
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1仅包括在WTG收购中获得的Fleet Fueling业务。 | |
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2代表向GPMP支付的预估固定费用,用于燃料成本。 | |
![大](https://usnewsfile.moomoo.com/public/MM-PersistNewsContentImage/7781/20240808/0-432b2ced94a041cce6de85cc04872911-0-307df39a09124650e968e3ff72ffc021.jpg/big)
来源:ARKO CORP.
发布于2024年8月6日。