Yesway, Inc. Class A Common Stock

Yesway announced it is bringing the Allsup's brand to Arizona for the first time, expanding the company's operating footprint into its 10th state. With the opening of the Willcox location on October 2, Yesway will operate 453 stores across 10 states, strengthening its presence across the Southwest. The company sees its first investment in Arizona as the beginning of a meaningful and growing presence in the state, calling Arizona an important component of its broader new-store development strategy, which is currently concentrated in Arizona, Oklahoma, New Mexico, and Texas. CEO Tom Trkla called the opening one of the most significant milestones in Yesway's history since the company was founded in 2015, adding that the Allsup's operating model is particularly well suited to the state's rural and suburban communities. Yesway has developed and opened more than 90 new-to-industry stores over approximately the past five years, complementing growth through strategic acquisitions and continued investment in its existing store base. Shares of Yesway were down 0.8% in Thursday morning trading to $19.73; the IPO was priced at $20 per share on April 22 and has traded as high as $29.08.

Yesway raised its full-year 2026 adjusted EBITDA guidance to $235 million to $245 million, up from a prior outlook of $210 million to $220 million, after reporting its strongest quarter in company history. Second-quarter adjusted EBITDA rose 35% year-over-year to $71 million, driven by a 27.4% increase in total fuel margin per gallon to $0.526 and a 29.5% jump in store contribution to $88 million. Same-store inside merchandise sales increased 1.2% and same-store fuel gallons rose 1.4%, while net income reached $30 million. The company reaffirmed same-store inside merchandise sales growth of 1.25% to 3.25%, capital expenditures of $85 million to $95 million, and plans to open 6 to 8 new stores in 2026, assuming its Iowa and Kansas portfolio sale is completed by year-end. Management expects fuel margins to moderate to the low $0.40 per gallon range in the second half of the year.