Earnings season for convenience retailers is about to ramp up, with numerous publicly owned c-store and oil companies set to reveal their wins and losses from their most recent quarter in the coming days.

This past earnings period saw a flurry of activity by some of the largest publicly traded c-store retailers. Major acquisitions and sale rumors heated up for some, while others dealt with headaches from upset shareholders.

Here’s what five of those c-store retailers might be discussing during their next earnings calls.

BP could talk TA deal, energy targets

On May 2, BP will hold its first earnings call since announcing its blockbuster acquisition of TravelCenters of America back in February. The $1.3 billion deal, which includes TA’s 281 locations across 44 states, is expected to close by May 15. BP aims to create a “mobility site of the future” that supports growing demand for lower-carbon mobility solutions.

London-based BP is also facing shareholder criticism with its plan to scale back its emission reduction targets. The oil company had previously said its emissions would be 35% to 40% lower by 2030, but changed those targets to 20% to 30% in early February.

BP is not alone in dealing with investors who have problems with the company’s decisions. During the first quarter, activist hedge fund Engine Capital – which owns 2% of Parkland’s stock — began pushing for the company to split off non-core assets and turn Parkland into a “pure play” c-store company. 

Parkland has stayed the course so far, but has allowed its largest investor — Simpson Oil — to nominate two people to the board. 

A company spokesperson said that “an ongoing board refreshment process with the nomination of two new independent directors at the upcoming AGM and the retirement of two of our longstanding directors” showed its dedication to acting in the long-term interests of the company. 

Parkland is expected to announce Q1 earnings on May 3, with its earnings call the following morning.

Global Partners moving into Texas

Since its last earnings report, East coast retailer Global Partners made its fourth acquisition since the start of 2022, and its biggest deal in that time frame. The company agreed to acquire 64 Timewise c-store and fueling facilities in Houston from Texas-based retailer Landmark Industries. 

The deal is expected to close in the second quarter of this year, and if approved, will be the retailer’s first foray outside the Northeast and mid-Atlantic.

Global Partners is expected to report earnings on May 5.

Is Delek going to sell?

In its last earnings call, Delek US Holding’s leadership hinted at a potential sale of its c-store assets. The Brentwood, Tennessee-based company said it was “evaluating various options and opportunities around logistics and retail” as it looks to unlock shareholder value — and that some sort of move was in play.

Shareholders will likely be listening closely for an update on the company’s May 8 earnings call.

“Our belief in retail is either you can go big all the way or you’re almost not relevant,” President and CEO Avigal Soreq said during the company’s previous earnings call. “And we hope — and we are certain — that you will be very proud and happy with the deal that we are going to end up showing you.”

Will ARKO Corp. get back into acquisition mode?

Headlines out of ARKO Corp. over the past month have largely centered on its attempts to woo TravelCenters of America (TA) away from BP. 

It looks like TA is going with BP, but ARKO — whose subsidiary, GPR Investments, has a reputation for being highly acquisitive — was willing to pay around $1.4 billion to make the acquisition happen.

The company has otherwise been fairly quiet in the last quarter. It only closed the previously announced acquisition of Transit Energy Group and updated its fas REWARDS loyalty program. 

ARKO is scheduled to report first-quarter results on May 8, with its earnings call scheduled for the following morning.