APC delivered a clean first-quarter beat on net income and maintained guidance, but total revenue was essentially flat YoY. The debt reduction and strong balance sheet are positives, but the stock may already price in the guidance. Watch for Q2 results and any updates on the ARKO retail site conversion program, which is a key growth driver.
Price Chart
Executive Summary
APC reported Q1 2026 net income of $8.1M ($0.20 EPS) vs $4.5M ($0.13) a year ago, beating consensus EPS of $0.20 exactly. Total revenue was $1.34B, slightly above the $1.26B consensus. Adjusted EBITDA rose to $36.4M from $30.9M, and the company maintained full-year 2026 guidance for ~$156M Adjusted EBITDA. The IPO proceeds reduced debt by $206.7M, strengthening the balance sheet.
Key Financial Metrics
Key Facts
- Q1 2026 net income $8.1M vs $4.5M YoY; EPS $0.20 vs $0.13
- Total revenue $1.34B vs $1.35B YoY (flat)
- Adjusted EBITDA $36.4M vs $30.9M YoY (+17.8%)
- Full-year 2026 guidance maintained: Adjusted EBITDA ~$156M, Discretionary Cash Flow ~$110M
- IPO closed Feb 2026: 12.57M shares at $18.00, net proceeds $210.4M used to repay $206.7M debt
- Net debt reduced to $313.5M from $526.6M at year-end 2025; Net Debt/Adjusted EBITDA ratio 2.1x
- Quarterly dividend $0.26 per share paid April 21; Q2 dividend expected $0.50 per share
- Operating income grew across all three segments: wholesale +$4.4M, fleet fueling +$1.0M, GPMP +$3.7M
Financial Impact
EPS in line with consensus; revenue slightly above; debt reduction of $206.7M from IPO proceeds
Risk Factors
- Fuel margin volatility due to geopolitical environment
- Execution risk on ARKO retail site conversions and new fleet fueling locations
- Flat total revenue suggests limited top-line growth despite segment improvements
Market Snapshot
Investment Themes
Documents Analyzed
This report is based on 1 press release from GlobeNewswire.
| Document | Accession Number |
|---|---|
| PRESS-RELEASE Data (Synthetic) | press-3291725 |
Track record builds as more directional reports settle.
Filters
| Type | Now | ||||
|---|---|---|---|---|---|
May 12, 2026 23w ago | 3 | $20.96 $19.44 | ▼ −7.25% | ▼ −11.69% | $16.00 (−23.66%) |
May 12, 2026 23w ago | 3 | $20.96 $19.44 | ▼ −7.25% | ▼ −11.69% | $16.00 (−23.66%) |
May 11, 2026 24w ago | 8-K | $20.09 $19.84 | ▼ −1.24% | ▼ −5.64% | $16.00 (−20.36%) |
May 11, 2026 24w ago | Press Release | $20.09 $19.84 | ▼ −1.24% | ▼ −5.64% | $16.00 (−20.36%) |
May 7, 2026 24w ago | 8-K | $19.05 $20.08 | ▲ +5.41% | ▲ +1.57% | $16.00 (−16.01%) |
Apr 27, 2026 26w ago | Press Release | $18.11 $20.71 | ▲ +14.36% | ▲ +9.58% | $16.00 (−11.65%) |
Mar 30, 2026 30w ago | Press Release | $17.64 $18.59 | ▲ +5.37% | ▼ −7.01% | $16.00 (−9.31%) |
Feb 25, 2026 34w ago | 8-K | $18.86 $20.72 | ▲ +9.86% | ▲ +1.69% | $16.00 (−15.16%) |
US Market Status
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