ARKO Corp's stock price plummeted 5.09% in the pre-market trading session on Friday, following the release of the company's full year 2024 earnings results.
The specialty retailer missed analysts' expectations, with revenue declining 7.2% year-over-year to $8.73 billion, missing estimates by 1.6%. Net income also fell 27% to $20.8 million, while earnings per share of $0.18 missed estimates by 22%.
The company cited lower revenue as the primary driver for the decline in profit margins, which contracted to 0.2% from 0.3% in the previous year. Looking ahead, ARKO's revenue is expected to decline by 2.9% annually over the next three years, underperforming the projected 5.1% growth for the U.S. specialty retail industry.