APC earnings analysis
What we found in APC's 10-Q: the parts that mattered, the offsets in the same document, and what the company said about what comes next.
Our reading of the filing · Free to read, no account needed
ARKO Petroleum Corp. demonstrated strong performance in Q1 2026 with net income increasing to $8.1 million from $4.5 million year-over-year, exceeding expected earnings per share of $0.20 with an actual EPS of $0.23. However, revenue slightly declined by 0.2% compared to the prior year, resulting in total revenue of approximately $1.34 billion, showing resilience despite challenging macroeconomic conditions.
The parts that mattered.
Pulled out of the filing itself, with the figures the company reported.
- EPS Exceeds Expectations
- Actual EPS of $0.23 surpassed the consensus estimate of $0.20 and increased from $0.13 a year ago.
- Revenue Stability
- Total revenue for Q1 2026 was $1.34 billion, slightly down from $1.35 billion in Q1 2025, reflecting robust pricing amid volume fluctuations.
- Operating Income Growth
- Operating income rose to $20.1 million for Q1 2026, compared to $15.8 million the previous year.
- Strong Adjusted EBITDA
- Adjusted EBITDA increased to $36.4 million from $30.9 million year-over-year.
- Improved Fuel Margin
- Fuel margin per gallon increased to 11.4 cents in Q1 2026, up from 9.9 cents in Q1 2025.
- Cash Position Strengthened
- Cash and cash equivalents rose to $21.7 million from $15.6 million at year-end.
And the other side of it.
The offsets in the same document — the things a summary that only listed the good news would have left out.
- Decline in Fuel Gallons Sold
- Total fuel gallons sold decreased to 452,851 from 476,937, indicating challenges in volume due to macroeconomic factors.
- Higher Operating Expenses
- Operating expenses remained nearly flat at $1.32 billion, while fuel costs increased leading to tighter margins.
- Debt Management Pressure
- Total debt net of cash was $184.5 million, raising concerns about refinancing in a rising interest rate environment.
What they reported.
What the company itself reported, taken out of the document.
- Earnings per share
- $0.23
- Operating margin
- 1.49%
- Segment
- Wholesale
- Segment
- Fleet Fueling
- Segment
- GPMP
What they said about what is next.
Guidance deferred to earnings press release / call.
The filing reads about the same as the one before it.
What came before.
- 10-K · March 30, 2026
- ARKO Petroleum (APC) completed an IPO in Feb 2026 and began life as a separately listed wholesale and fleet fuel distributor after ARKO Parent contributed its wholesale/fleet businesses. For the year ended Dec 31, 2025…
This is our reading of a public filing, not the filing. Read the original on SEC.gov · Educational only. Nothing here is investment advice.
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