Arko Petroleum Corp (NASDAQ: APC) is a fuel distribution company that wholesales motor fuel to dealers, cardlock locations, and related-party retail sites across the United States. Revenue is transactional, earned on the spread between fuel purchase cost and selling price, measured as fuel contribution (fuel revenue minus fuel costs) and expressed in cents per gallon. The company describes itself as one of the largest wholesale fuel distributors by gallons in North America, supplying customers in more than 30 states as of the Q1 2026 10-Q filing. It was incorporated in Delaware on July 2, 2025, as a subsidiary of ARKO Corp. (NASDAQ: ARKO), one of the largest U.S. convenience store operators, and completed its IPO on February 13, 2026, raising approximately $206.8 million in net proceeds. Headquartered in Richmond, Virginia, the business has grown through 26 acquisitions completed by Arko Petroleum and ARKO Corp. combined from 2013 through March 31, 2026. The operating model targets high conversion of gross profit to Adjusted EBITDA and prioritizes quarterly cash distributions to stockholders.

Revenue model

Transactional fuel distribution: revenue is the per-gallon spread between fuel selling price and fuel cost (fuel contribution), plus ancillary revenues including rental income from dealer sites. For Q1 2026, total revenues were $1.344 billion, with fuel revenue of $807.6 million from third-party customers and $514.5 million from related-party (ARKO retail) sites. Total fuel gallons sold were 452.9 million in Q1 2026. Other revenues, net were $22.3 million in Q1 2026, up from $16.1 million in Q1 2025, driven partly by rental income from converted dealer locations.

Products and services

Wholesale motor fuel distribution to dealer and cardlock locations. Rental income from dealer sites converted from ARKO retail locations. The company operates a wholesale segment and a GPMP (GPM Petroleum LP) segment, with the GPMP segment charging an intercompany fixed margin or fixed fee per gallon as the fuel cost basis for other segments.

Customers and end markets

Dealer-operated fuel stations, cardlock locations, and ARKO Corp. retail convenience store sites (related-party). Related-party fuel gallons sold were 182.7 million in Q1 2026 versus 211.7 million in Q1 2025. Third-party fuel gallons sold were 270.1 million in Q1 2026 versus 265.3 million in Q1 2025. End market is retail motor fuel consumption across more than 30 U.S. states.

Value-chain role

Wholesale fuel distributor and intermediary between fuel suppliers and end-point retail dealers. The company purchases fuel, distributes it to dealer and cardlock sites, and in some cases owns or leases the real estate at those sites, collecting rental income. It does not operate retail convenience stores directly; that activity sits within ARKO Corp.

Geographic exposure

United States, supplying customers in more than 30 states as described in the Q1 2026 10-Q. Headquartered in Richmond, Virginia.

Source: SEC 10-Q, filed 2026-05-11

Industry: Wholesale-Petroleum & Petroleum Products (No Bulk Stations)