Yesway has revealed the results from its first fiscal quarter as a public company.
During the quarter, the company saw its net income tick up from a net loss of $5.6 million in the prior-year period to a net income of $30.2 million in Q1 2026. Additionally, adjusted EBITDA jumped 112.9% to $59.2 million.
Same store inside merchandise sales also increased 4.5%, with total merchandise sales rising 9.5%. The retailer reported a total inside margin of 36.1%.
“We are pleased to report record first quarter results following the successful completion of our public offering,” said Thomas Trkla, chairman, president and CEO of Yesway. “Our strong performance reflects the continued execution of our growth strategy and the strength of our differentiated convenience and foodservice platform. During the quarter, we delivered meaningful year-over-year growth across our foodservice, merchandise and fuel businesses, with fuel sales and margins increasing as we benefited from disciplined operations, strong customer demand and the continued maturation of our store base.”
On the fuel side, same-store fuel gallons sold increased 0.2% compared to the prior-year period and total fuel gallons sold increased 8% year-over-year, with a total fuel margin of 49.4 cents per gallon.
Income from operations increased from $10.2 million to $42.4 million, and store contribution increased 72.7% year-over-year to $74.6 million.
“Our momentum has carried into the second quarter, and we remain confident in the resilience of our business model and the significant opportunity ahead,” Trkla added. “We are focused on further strengthening Yesway’s position as a go-to destination for high-quality foodservice offerings, trusted convenience products, competitive fuel options and neighborly customer service. With our resilient business model and thoughtful capital allocation strategy, we believe Yesway is well-positioned to continue delivering profitable growth and create long-term value for our shareholders. We are grateful for the dedication of our team members and excited about the significant opportunities ahead as we continue to scale our platform and serve the communities in which we operate.”
Yesway’s New Era
Yesway officially rang the Opening Bell at Nasdaq on April 22, listed under the ticker YSWY. The company announced that it priced at $20 per share, within its target range. It raised $280 million in its initial public offering (IPO).
“Today marks a historic milestone for Yesway and our team members, customers and communities across the country. Since our founding, we have grown into one of the fastest-growing convenience store operators in the U.S., driven by strategic acquisitions, an efficient new-store build platform and best-in-class operating standards,” said Trkla in April. “We are proud to be a trusted destination for compelling foodservice and convenience offerings, delivered through a neighborly customer experience and anchored by an iconic menu featuring Allsup’s famous deep-fried burrito. As a public company, we see significant opportunities to further expand our footprint and store base as we continue executing on our long-term growth strategy.”
Yesway first announced that it would be taking its company public in late March. The company previously attempted an IPO in 2021 but shifted its focus due to market conditions.
Morgan Stanley acted as lead bookrunning manager for the offering. J.P. Morgan and Goldman Sachs & Co. acted as active bookrunning managers. Barclays, BMO Capital Markets, KeyBanc Capital Markets, Guggenheim Securities and Raymond James & Associates also acted as bookrunners.
The move to take its company public follows a pivotal year for Yesway, during which the company saw significant growth — especially with its signature Allsup’s brand.
Yesway wrapped up 2025 with the opening of two new c-stores in Odessa and Monahans, Texas.
The additions brought Yesway’s Texas store count to 250, with each of the new locations spanning 6,277 square feet of retail space.
The stores “reflect the company’s commitment to providing an elevated, consistent customer experience, delivering operational excellence and offering modern amenities that meet the evolving needs of rural and suburban communities,” according to a statement from the company.
“The pace at which our incredibly talented and dedicated team was able to deliver new Allsup’s stores across our network in 2025 is a testament to our culture of service, innovation and execution,” said Trkla in March.
He continued, “Every new store opening represents not just an expansion of our footprint, but an expansion of our responsibility to serve and support the communities that welcome us. I am profoundly grateful to our team members, whose hard work and enthusiasm fuel our progress every single day, and to our loyal customers, who continue to embrace us and make us feel welcome in their communities.”
