Yesway Revenue Reaches $969.153 Million in Q3 as Net Income Rises
Key Facts
Yesway reported revenue of $969.153 million in the third quarter of 2026, compared with $715.885 million in the same period a year earlier, in results released by the company on November 12. Net income rose to $24.8 million for the three months ended September 30, from $15.9 million a year earlier. Adjusted EBITDA also increased 8.6% year over year to $59.6 million. The results reflect growth in revenue and earnings compared with the year-earlier period, with rates of change varying across performance measures. The company had said it would release the results before the market opened on November 12.
Fuel was the largest driver of revenue growth, with sales rising 51.6% year over year to $713.5 million. Fuel gross profit increased 19.8% to $76.0 million, which the company attributed mainly to higher fuel margins and increased volumes sold. On a same-store basis, gross profit from fuel and in-store merchandise rose 7.9%. Same-store fuel gallons sold increased 1.1%, while same-store in-store merchandise sales grew 1.9%. The figures highlight the difference between growth in total fuel sales and the slower increase in sales at existing stores.
Yesway reaffirmed its fiscal 2026 guidance, which includes adjusted EBITDA of $235 million to $245 million. It also expects same-store in-store merchandise sales growth of 1.25% to 3.25%, and capital expenditures of $85 million to $95 million. The plan includes opening 6 to 8 new stores during the year. In August, the company raised its annual earnings guidance range to $235–245 million from $210–220 million previously. It said at the time that the revision reflected strong second-quarter performance, while assuming fuel margins would moderate to the low 40s cents per gallon in the second half of the year.
The results followed a second quarter in which the company recorded net income of $29.7 million, compared with $24.2 million in the second quarter of 2025. Adjusted EBITDA for that quarter was $70.9 million, up 35.0% year over year. Fuel margins were 52.6 cents per gallon, compared with 41.3 cents in the same period of 2025. This places the third-quarter results in the context of higher earnings and fuel margins the company had reported for the previous quarter. On November 11, before the third-quarter results were released, YSWY shares closed at $25.65.
In a capital-allocation move, Yesway announced on October 1 that it had completed the sale of a portfolio of 29 stores in Iowa and Kansas to Now & Forever for approximately $21 million, including the value of existing inventory. The company said it intends to use the proceeds to strengthen its balance sheet and fund development of new stores in its core markets. It said the transaction frees up capital to invest in new stores in its faster-growing core markets, where it sees opportunities to earn higher returns on invested capital. This comes alongside its capital expenditure outlook and store-opening plan for fiscal 2026. That plan, together with the annual earnings range the company reaffirmed, remains among the key items it announced with its third-quarter results.