APC — what changed in the latest 10-Q
A section-by-section comparison of APC's newest periodic SEC filing (10-K/10-Q) against the prior same-form filing: paragraphs added and removed per section, with verbatim excerpts. Purely a deterministic text diff — no similarity scores, no directional read, not investment advice.
Comparing 10-Q · 2026-08-06 vs the prior 10-Q · 2026-05-11
| Section | Outcome | Added | Removed | Minor | Unchanged |
|---|---|---|---|---|---|
| MD&A | Text added/removed | +62 | −32 | ~40 | 67 |
| Controls & procedures | Text added/removed | 0 | 0 | ~1 | 2 |
| Legal proceedings | No paragraph-level changes | 0 | 0 | 0 | 1 |
| Risk factors | No material changes reported (points to the 10-K) | — | — | — | — |
| Other information | Text added/removed | 0 | −6 | ~1 | 0 |
Counts are paragraphs; added/removed means text added or removed vs the prior filing — no direction or judgement implied.
Not shown (absent or not faithfully extractable): Market risk (Item 3)
Representative excerpts
Up to 5 excerpts of about 300 characters per section, quoted verbatim from the two SEC filings.
MD&A
Text added vs the prior filing · source: 10-Q · 2026-08-06
During the first half of 2026, global crude oil and refined product markets were impacted by heightened geopolitical tensions in the Middle East, including the ongoing conflict involving Iran, Israel, and the United States. These developments contributed to significant volatility in crude oil prices…
For the three months ended June 30, 2026, fuel revenue – related party increased by $111.9 million, or 18.5%, compared to the three months ended June 30, 2025, resulting primarily from an increase in the average price of fuel in the second quarter of 2026 as compared to the second quarter of 2025, w…
For the three months ended June 30, 2026, other revenues, net increased by $5.1 million, or 33.2%, compared to the second quarter of 2025, primarily due to additional rental income from ARKO Retail Sites converted to dealer locations.
For the three months ended June 30, 2026, other revenues, net – related party increased by $0.2 million, or 4.7%, compared to the three months ended June 30, 2025.
For the three months ended June 30, 2026, total operating expenses increased by $395.9 million, or 27.9%, compared to the second quarter of 2025. Fuel costs increased $277.9 million, or 35.8%, compared to the three months ended June 30, 2025, and fuel costs – related party increased by $111.8 millio…
Text removed vs the prior filing · source: 10-Q · 2026-05-11
During the quarter ended March 31, 2026, global crude oil and refined product markets were impacted by heightened geopolitical tensions in the Middle East, including the ongoing conflict involving Iran, Israel, and the United States. These developments contributed to volatility in crude oil prices a…
General and administrative expenses, including allocated expenses
Interest and other financial expenses, net, including allocated expenses
For the three months ended March 31, 2026, fuel revenue – related party decreased by $59.9 million, or 10.4%, compared to the three months ended March 31, 2025, resulting primarily from a 28.9 million, or 13.7%, decrease in gallons sold, reflecting the challenging macroeconomic environment. as well …
and ARKO Retail Sites converted to dealer locations, which was partially offset by an increase in the average price of fuel in the three months ended March 31, 2026, as compared to the three months ended March 31, 2025.
Other information
Text removed vs the prior filing · source: 10-Q · 2026-05-11
The compensation committee of our Board (the “Compensation Committee”) adopted a non-employee director compensation program (the “Program”) which provides for payment of the following:
Annual Equity Retainer: RSUs with a grant date fair value of $100,000
Nominating and Corporate Governance Committee Chair: additional $10,000
The cash component of the Program shall be paid quarterly, and the non-employee directors can elect to receive RSUs in lieu of all or any portion of their cash compensation. The Compensation Committee designed the Program to reward directors for their contributions to our success, align the director…
The Compensation Committee approved a Director Form RSU Agreement to evidences the grant of RSUs pursuant to Program, which shall be made under our 2026 Incentive Compensation Plan, which RSUs are immediately vested as of the date of grant, and which provide for the right to receive one share of Cla…
How to read Risk Factors (Item 1A) in a 10-Q
A 10-Q risk-factor section usually takes one of three forms; this page classifies it as one of:
- Pointer — the filer states there have been no material changes and points back to the annual 10-K risk factors; there is no own risk text to compare this quarter.
- Partial update — the filer carves out specific updated risks ("except as set forth below"); the excerpts show exactly what is new this quarter.
- Restated in full — the quarter carries the complete risk-factor text. When the prior quarter was only a pointer there is no prior full text to diff against, so the page flags the section as restated instead.
This describes the filing structure only — it is never a judgement on whether risk went up or down.
Source: text-level diff of the two SEC EDGAR filings · deterministic (no AI-generated content) · for reference only · not investment advice