Arko Corp. (NASDAQ:ARKO) Q4 2022 Earnings Call Transcript

Donald Bassell: Yeah. So I thought I was off mute. One of the things I think that’s important, Anthony, as you saw, we did with Handymark, we’re not waiting to get in to do the like the resets and things like that. And obviously, the bigger we get, the lower our cost is, the more efficient and we’re also looking not only just the store level, we’re also looking at the G&A structure as well, too. And we’re, there’s obviously more synergies to come and obviously we now well-defined three different segments. We’re all operating on the same platform, and I think there’s more synergies to come. It just comes naturally. So I think we’ll see that, but the big focus really is to get there as soon as possible and start to do these resets and realize these synergies quickly, which will just lead us, to grow even more.

So I think I don’t want to give a percentage on it. But I think one of the things we if you note, like when we looked at the Corals acquisition, we exceeded our expectations with their, we exceeded our expectations, with Handymark, we exceeded our expectations with Empire. I think we’re at a point now where we’ve really gotten the formula down, I won’t say completely. But now comes the fun part where we really can start focusing in on not just what do we do as synergies, but our internal processes? And how do we — how do we make that even better make it easier for the operators, so they can have more customer facing time, and do things like that. So the synergies not only with the acquire sites, but also with our own sites from an organic standpoint will grow.

Operator: Thank you. I’m showing up for additional questions in queue at this time. I’d like to turn the floor back over to Mr. Kotler for closing comments.

Arie Kotler: Thank you very much. First, I would like to thank you all for joining the call. Great question, a lot of questions this time, which is great. We had a hell of a quarter, we had a hell of a year, grew our EBITDA again. This is a second year that we are — second anniversary of being a public company over here. We grew EBITDA from $256 million last year to $301 million this year. And as you can see, we have another two acquisitions that we’re getting ready to close. I think we continue to perform very, very well, continue to execute. And as Don mentioned earlier, every time when we put numbers in front of our investors, we actually beat those numbers. So we’re trying to be ultra conservative over here. And I’m looking forward for a great 2023 Thank you everybody for participate, and have a great day.

Operator: Ladies and gentlemen, thank you for your participation. This concludes today’s event. You may disconnect your lines at this time or lock off the webcast and enjoy the rest of your day.