ARKO Q3 net income falls to $9.7M from $21.5M; adjusted EBITDA $78.8M at midpoint of guidance

ARKO Corp.

2024-Q3 EPS reported $0.16 revenue$6,739,853,000

Net income $9.7M vs $21.5M YoY; adjusted EBITDA $78.8M vs $87.3M, within guidance of $70M-$86M.
Retail fuel margin improved to 41.3 cpg from 40.3 cpg; merchandise margin rate up to 32.8% from 31.7%.
Retail fuel contribution $117.1M vs $121.3M; merchandise contribution $154.0M vs $160.7M, both down YoY.
Converted 51 retail stores to dealer sites YTD; expects ~100 more in Q4, targeting $8.5M annualized benefit.
Board declared $0.03/share quarterly dividend, payable Dec 3, record Nov 19.

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