India, Nov. 5 -- Convenience store operator ARKO Corp. (ARKO) on Thursday reported a drop in profit for the third quarter. However, the company raised the lower end of its full-year adjusted EBITDA outlook, citing year-to-date performance, business trends and the expected acquisition of U.S. Petroleum Partners.
Net income attributable to common stockholders, however, declined to $9.2 million, or $0.08 per share, from $12.0 million, or $0.10 per share.
Total revenues rose to $2.39 billion from $2.02 billion.
In the retail segment, merchandise margin expanded 110 basis points to 34.8%, marking the 12th consecutive quarter of year-over-year improvement. Same-store fuel contribution increased 2.7%, while the same-store retail fuel margin ros...