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Arko Corp Down 16.08% To $6.71 After Earnings Miss

Wednesday, February 28, 2024 02:54 PM | InvestorsObserver Analysts

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Arko Corp Down 16.08% To $6.71 After Earnings Miss

Arko Corp (ARKO) said after close Tuesday that it broke even in quarter four 2023.

On the revenue line, the company reported $2.2 billion, missing estimates by $197 million.

In the same quarter a year ago, the company earned $0.09 per share on revenue of $2.2 billion.

The stock is down 16.08% to $6.71 after the report.

Despite revenues increasing, earnings decreased, signaling a decline in profit margins.

Wall Street Analysts had an average rating of Buy on the stock prior to the report.

Trading in the five days leading up to the report earned Arko Corp a Bullish Sentiment Rank from InvestorsObserver.

Prior to the report, InvestorsObserver gave the stock an overall score of 36. Meanwhile, the average Wall Street analyst rated the stock a Buy.

ARKO Corp operates as a holding company. The company, through its subsidiaries, owns and operates convenience stores in the United States. Some of its regional store brands include Stop, Admiral, Apple Market, BreadBox, E-Z Mart, fas mart, Li'l Cricket, and Next Door Store. Its retail store offers hot food service, beverages, cigarettes & other tobacco products, candy, salty snacks, grocery, beer, and general merchandise. ARKO operates in three segments: Retail, Wholesale, and GPM Petroleum. The company derives the majority of its revenue from retail and wholesale distribution of fuel.

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