From GlobeNewswire:

ARKO Corp. announced their financial results for the quarter and full year ended December 31, 2023. Net income was $1.1 million for the quarter and $34.6 million for the year. Adjusted EBITDA for the quarter was $65.5 million, with merchandise revenue increasing by $43.6 million in Q4 and $190.4 million for the year.

Despite reduced fuel contribution at same stores, merchandise revenue increased by $24.0 million in the fourth quarter and $83.9 million for the year. Retail fuel contribution saw a 4.8% increase in Q4 to $109.3 million and a 4.6% increase for the year to $435.3 million. Same store fuel gallons sold decreased by 7.5% in Q4 and 5.3% for the year.

ARKO Corp. completed five acquisitions in the past eighteen months, ending 2023 with over two million enrolled loyalty members. A new pizza program was launched in January 2024 at over 1,000 stores. The Board declared a quarterly dividend of $0.03 per share. Robb Giammatteo joined as the Executive Vice President and CFO.

Arie Kotler, ARKO Corp’s Chairman and CEO, highlighted the company’s focus on organic growth and value creation. The company plans to host an investor day to share their roadmap for enhancing organic performance. Merchandise and marketing initiatives, including the fas REWARDS program, remain key focus areas for driving customer value and store productivity.



Read more at GlobeNewswire:: ARKO Corp. Reports Fourth Quarter and Full Year 2023