ARKO Corp. Quarterly report [Sections 13 or 15(d)]

Quarterly report [Sections 13 or 15(d)]

Segment Reporting (Tables)

Segment Reporting (Tables)

6 Months Ended

Jun. 30, 2025

Inter-segment transactions primarily included the distribution of fuel by GPMP to substantially all of GPM’s sites that sell fuel (both in the retail and wholesale segments) and charges by GPMP primarily to sites that sell fuel in the fleet fueling segment which are not supplied by GPMP. The effect of these inter-segment transactions was eliminated in the interim financial statements.


	Retail		Wholesale		Fleet Fueling		GPMP			All Other			Total
For the Three Months Ended June 30, 2025	(in thousands)
Revenues
Fuel revenue	$	748,103	$	696,671	$	118,121	$	353		$	6,294		$	1,569,542
Merchandise revenue		400,126		—		—		—			—			400,126
Other revenues, net		14,622		12,501		2,245		191			292			29,851
Total revenues from external customers	$	1,162,851	$	709,172	$	120,366	$	544		$	6,586		$	1,999,519
Inter-segment revenues	$	—	$	—	$	—	$	1,008,786		$	5,389		$	1,014,175

Fuel costs	$	640,231	$	671,282	$	100,353	$	982,722
Merchandise costs		265,641
Salaries and wages		70,669
Credit card fees		21,384		1,823		1,136
Rent		33,383		9,451		2,845
Repairs and maintenance		14,854		1,277		1,255
Other segment expenses		36,319		2,097		1,698		2,660			12,125
Operating income (loss) from segments	$	80,370	$	23,242	$	13,079	$	23,948		$	(150	)	$	140,489
Interest and other financial expenses, net							$	(7,797	)				$	(7,797	)
Income from equity investment										$	26		$	26


	Retail		Wholesale		Fleet Fueling		GPMP			All Other			Total
For the Three Months Ended June 30, 2024	(in thousands)
Revenues
Fuel revenue	$	976,372	$	762,693	$	140,140	$	990		$	7,336		$	1,887,531
Merchandise revenue		474,248		—		—		—			—			474,248
Other revenues, net		16,735		6,850		2,284		222			293			26,384
Total revenues from external customers	$	1,467,355	$	769,543	$	142,424	$	1,212		$	7,629		$	2,388,163
Inter-segment revenues	$	—	$	—	$	—	$	1,282,870		$	4,886		$	1,287,756

Fuel costs	$	858,391	$	738,707	$	122,280	$	1,255,682
Merchandise costs		318,489
Salaries and wages		83,980
Credit card fees		24,997		2,082		1,064
Rent		36,390		5,522		2,833
Repairs and maintenance		15,670		809		1,210
Other segment expenses		41,513		1,153		1,335		2,644			12,812
Operating income (loss) from segments	$	87,925	$	21,270	$	13,702	$	25,756		$	(297	)	$	148,356
Interest and other financial expenses, net							$	(8,583	)				$	(8,583	)
Income from equity investment										$	28		$	28


	Retail		Wholesale		Fleet Fueling		GPMP			All Other		Total
For the Six Months Ended June 30, 2025	(in thousands)
Revenues
Fuel revenue	$	1,438,789	$	1,326,163	$	236,527	$	849		$	14,130	$	3,016,458
Merchandise revenue		754,611		—		—		—			—		754,611
Other revenues, net		29,169		22,853		4,363		346			624		57,355
Total revenues from external customers	$	2,222,569	$	1,349,016	$	240,890	$	1,195		$	14,754	$	3,828,424
Inter-segment revenues	$	—	$	—	$	—	$	1,949,317		$	10,474	$	1,959,791

Fuel costs	$	1,245,644	$	1,280,727	$	203,457	$	1,899,310
Merchandise costs		502,556
Salaries and wages		142,337
Credit card fees		40,800		3,492		2,181
Rent		67,221		18,107		5,699
Repairs and maintenance		30,513		2,268		2,173
Other segment expenses		72,977		2,550		3,309		5,328			25,210
Operating income from segments	$	120,521	$	41,872	$	24,071	$	45,874		$	18	$	232,356
Interest and other financial expenses, net							$	(15,275	)			$	(15,275	)
Income from equity investment										$	47	$	47


	Retail		Wholesale		Fleet Fueling		GPMP			All Other			Total
For the Six Months Ended June 30, 2024	(in thousands)
Revenues
Fuel revenue	$	1,800,800	$	1,427,207	$	272,333	$	2,195		$	16,328		$	3,518,863
Merchandise revenue		888,903		—		—		—			—			888,903
Other revenues, net		33,414		13,708		4,669		429			631			52,851
Total revenues from external customers	$	2,723,117	$	1,440,915	$	277,002	$	2,624		$	16,959		$	4,460,617
Inter-segment revenues	$	—	$	—	$	—	$	2,385,411		$	10,139		$	2,395,550

Fuel costs	$	1,589,886	$	1,382,491	$	240,557	$	2,333,503
Merchandise costs		598,226
Salaries and wages		166,503
Credit card fees		46,744		3,952		2,146
Rent		71,879		11,208		5,539
Repairs and maintenance		32,154		1,549		2,460
Other segment expenses		83,287		2,156		2,840		5,449			27,290
Operating income (loss) from segments	$	134,438	$	39,559	$	23,460	$	49,083		$	(192	)	$	246,348
Interest and other financial expenses, net							$	(15,111	)				$	(15,111	)
Income from equity investment										$	50		$	50

Schedule of Reconciliation of Operating Income from Reportable Segments to Consolidated Loss Before Income Taxes

A reconciliation of operating income from reportable segments to consolidated income before income taxes on the condensed consolidated statements of operations was as follows:


	For the Three Months Ended June 30,						For the Six Months Ended June 30,
	2025			2024			2025			2024
	(in thousands)
Operating income from reportable segments	$	140,639		$	148,653		$	232,338		$	246,540
All other operating (loss) income		(150	)		(297	)		18			(192	)
Intercompany charges by GPMP 1		(26,421	)		(28,196	)		(50,858	)		(54,159	)
Interest and other financial expenses, net		(7,797	)		(8,583	)		(15,275	)		(15,111	)
Amounts not allocated to segments:
Site operating expenses		(2,949	)		(3,582	)		(6,094	)		(6,932	)
General and administrative expenses		(39,922	)		(41,635	)		(80,707	)		(82,832	)
Depreciation and amortization		(31,762	)		(31,734	)		(64,809	)		(61,606	)
Other income (expenses), net		17,255			(261	)		15,038			(2,737	)
Interest and other financial expenses, net		(11,721	)		(12,784	)		(18,094	)		(8,713	)
Income before income taxes	$	37,172		$	21,581		$	11,557		$	14,258

1 Represents the estimated fixed margin or fixed fee (currently 5.0 cents per gallon) paid to GPMP for the cost of fuel and recorded by GPMP as inter-segment revenues.