ARKO Corp. reported its financial results for the third quarter and the first nine months of 2025, revealing a decline in both revenue and profitability compared to the same periods in 2024. For the three months ended September 30, 2025, total revenues amounted to $2.02 billion, a decrease of 11.3% from $2.28 billion in the prior year. The company's net income attributable to common shareholders was $12.01 million, or $0.11 per share, compared to $8.23 million, or $0.07 per share, in the same quarter of 2024. For the nine months ended September 30, 2025, total revenues were $5.85 billion, down from $6.74 billion, with net income of $16.58 million compared to $18.84 million in the previous year.
The decline in revenue was primarily driven by a decrease in fuel revenue, which fell to $1.60 billion in Q3 2025 from $1.78 billion in Q3 2024, attributed to lower average fuel prices and reduced gallons sold. Merchandise revenue also decreased by 17% to $389.73 million, reflecting challenges in customer transactions and the impact of store closures and conversions to dealer sites. Operating expenses decreased by 11.3% to $1.98 billion, largely due to lower fuel and merchandise costs, which aligned with the revenue decline.
Strategically, ARKO has been implementing a Transformation Plan that includes converting retail locations to dealer sites, which has resulted in 194 conversions since mid-2024. This initiative is expected to enhance profitability and cash flow stability. The company also launched a new store format aimed at improving customer experience and foodservice offerings, with plans for further rollouts in 2026. As of September 30, 2025, ARKO operated 1,182 retail convenience stores and supplied fuel to 2,053 dealer locations across more than 30 states.
In terms of operational metrics, ARKO reported approximately 2.39 million members in its fas REWARDS® loyalty program, a 7.1% increase year-over-year. The company’s cash and cash equivalents stood at $306.93 million, with total liquidity of approximately $891 million, providing a solid foundation for future investments and operational needs. Looking ahead, ARKO anticipates continued challenges from market conditions, including fluctuating fuel prices and inflation, but remains focused on executing its strategic initiatives to drive growth and profitability.
About ARKO Corp.
ARKO Corp. is a leading independent convenience store operator based in Richmond, VA, with over 1,389 retail locations across the U.S. It offers a diverse range of products, including fuel, foodservice, and convenience items. Targeting secondary and tertiary markets, ARKO is executing a multi-year Transformation Plan to convert retail stores into dealer sites, enhancing profitability. The company aims to leverage its scale for growth through acquisitions and improved customer engagement initiatives.
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