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

Quarterly report [Sections 13 or 15(d)]

Segment Reporting (Tables)

Segment Reporting (Tables)

9 Months Ended

Sep. 30, 2025

Inter-segment transactions primarily included the sale 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 September 30, 2025	(in thousands)
Revenues
Fuel revenue	$	744,405	$	725,990	$	122,692	$	—		$	6,903		$	1,599,990
Merchandise revenue		389,727		—		—		—			—			389,727
Other revenues, net		14,715		13,697		2,240		194			270			31,116
Total revenues from external customers	$	1,148,847	$	739,687	$	124,932	$	194		$	7,173		$	2,020,833
Inter-segment revenues	$	—	$	—	$	—	$	1,293,597		$	5,626		$	1,299,223

Fuel costs	$	640,278	$	700,922	$	105,952	$	1,266,828
Merchandise costs		258,248
Salaries and wages		67,403
Credit card fees		21,287		1,836		1,144
Rent		32,463		10,708		2,905
Repairs and maintenance		14,528		988		1,145
Other segment expenses		37,170		1,105		1,575		2,655			13,028
Operating income (loss) from segments	$	77,470	$	24,128	$	12,211	$	24,308		$	(229	)	$	137,888
Interest and other financial expenses, net							$	(7,973	)				$	(7,973	)
Income from equity investment										$	48		$	48


	Retail		Wholesale		Fleet Fueling		GPMP			All Other			Total
For the Three Months Ended September 30, 2024	(in thousands)
Revenues
Fuel revenue	$	929,783	$	720,646	$	125,933	$	822		$	6,687		$	1,783,871
Merchandise revenue		469,616		—		—		—			—			469,616
Other revenues, net		16,082		6,751		2,335		209			372			25,749
Total revenues from external customers	$	1,415,481	$	727,397	$	128,268	$	1,031		$	7,059		$	2,279,236
Inter-segment revenues	$	—	$	—	$	—	$	1,456,529		$	5,132		$	1,461,661

Fuel costs	$	812,693	$	697,286	$	109,752	$	1,429,277
Merchandise costs		315,597
Salaries and wages		82,641
Credit card fees		24,641		1,960		1,080
Rent		36,406		5,927		2,823
Repairs and maintenance		15,229		853		773
Other segment expenses		43,180		1,077		1,200		2,707			12,435
Operating income (loss) from segments	$	85,094	$	20,294	$	12,640	$	25,576		$	(244	)	$	143,360
Interest and other financial expenses, net							$	(8,590	)				$	(8,590	)
Income from equity investment										$	29		$	29


	Retail		Wholesale		Fleet Fueling		GPMP			All Other			Total
For the Nine Months Ended September 30, 2025	(in thousands)
Revenues
Fuel revenue	$	2,183,194	$	2,052,153	$	359,219	$	849		$	21,033		$	4,616,448
Merchandise revenue		1,144,338		—		—		—			—			1,144,338
Other revenues, net		43,884		36,550		6,603		540			894			88,471
Total revenues from external customers	$	3,371,416	$	2,088,703	$	365,822	$	1,389		$	21,927		$	5,849,257
Inter-segment revenues	$	—	$	—	$	—	$	3,720,945		$	16,100		$	3,737,045

Fuel costs	$	1,885,922	$	1,981,649	$	309,409	$	3,644,169
Merchandise costs		760,804
Salaries and wages		209,740
Credit card fees		62,087		5,328		3,325
Rent		99,684		28,815		8,604
Repairs and maintenance		45,041		3,256		3,318
Other segment expenses		110,147		3,655		4,884		7,983			38,238
Operating income (loss) from segments	$	197,991	$	66,000	$	36,282	$	70,182		$	(211	)	$	370,244
Interest and other financial expenses, net							$	(23,248	)				$	(23,248	)
Income from equity investment										$	95		$	95


	Retail		Wholesale		Fleet Fueling		GPMP			All Other			Total
For the Nine Months Ended September 30, 2024	(in thousands)
Revenues
Fuel revenue	$	2,730,583	$	2,147,853	$	398,266	$	3,017		$	23,015		$	5,302,734
Merchandise revenue		1,358,519		—		—		—			—			1,358,519
Other revenues, net		49,496		20,459		7,004		638			1,003			78,600
Total revenues from external customers	$	4,138,598	$	2,168,312	$	405,270	$	3,655		$	24,018		$	6,739,853
Inter-segment revenues	$	—	$	—	$	—	$	4,350,161		$	15,271		$	4,365,432

Fuel costs	$	2,402,579	$	2,079,777	$	350,309	$	4,271,001
Merchandise costs		913,823
Salaries and wages		249,144
Credit card fees		71,385		5,912		3,226
Rent		108,285		17,135		8,362
Repairs and maintenance		47,383		2,402		3,233
Other segment expenses		126,467		3,233		4,040		8,156			39,725
Operating income (loss) from segments	$	219,532	$	59,853	$	36,100	$	74,659		$	(436	)	$	389,708
Interest and other financial expenses, net							$	(23,701	)				$	(23,701	)
Income from equity investment										$	79		$	79

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 September 30,						For the Nine Months Ended September 30,
	2025			2024			2025			2024
	(in thousands)
Operating income from reportable segments	$	138,117		$	143,604		$	370,455		$	390,144
All other operating loss		(229	)		(244	)		(211	)		(436	)
Intercompany charges by GPMP 1		(26,762	)		(28,074	)		(77,620	)		(82,233	)
Interest and other financial expenses, net		(7,973	)		(8,590	)		(23,248	)		(23,701	)
Amounts not allocated to segments:
Site operating expenses		(2,862	)		(3,497	)		(8,956	)		(10,429	)
General and administrative expenses		(39,232	)		(37,773	)		(119,939	)		(120,605	)
Depreciation and amortization		(31,105	)		(31,288	)		(95,914	)		(92,894	)
Other (expenses) income, net		(2,003	)		(1,159	)		13,035			(3,896	)
Interest and other financial expenses, net		(12,172	)		(15,034	)		(30,266	)		(23,747	)
Income before income taxes	$	15,779		$	17,945		$	27,336		$	32,203

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.