(Exact Name of Registrant as Specified in Its Charter) Indicate by check mark whether the registrant (1) has filed all reports required to be filed by Section 13 or 15(d) of the SecuritiesExchange Act of 1934 during the preceding 12 months (or for such shorter period that the registrant was required to file such Indicate by check mark whether the registrant has submitted electronically every Interactive Data File required to be submittedpursuant to Rule 405 of Regulation S-T (§ 232.405 of this chapter) during the preceding 12 months (or for such shorter period that Indicate by check mark whether the registrant is a large accelerated filer, an accelerated filer, a non-accelerated filer, a smallerreporting company, or an emerging growth company. See the definitions of “large accelerated filer,” “accelerated filer,” “smaller Accelerated filer☐Smaller reporting company☐Emerging growth company☐ If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period forcomplying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act.☐ TABLE OF CONTENTS PART I. FINANCIAL INFORMATION Item 1.Financial Statements5Condensed Consolidated Balance Sheets as of March 31, 2026(unaudited)and December 31, 20255Condensed Consolidated Statements of Operations for the three months ended March 31, 2026 and 2025(unaudited)6Condensed Consolidated Statements of Changes in Equity / Net Investment for the three months ended March 31,2026 and 2025 (unaudited)7Condensed Consolidated Statements of Cash Flows for the three months ended March 31, 2026 and 2025(unaudited)8Notes to Condensed Consolidated Financial Statements (unaudited)11Item 2.Management’s Discussion and Analysis of Financial Condition and Results of Operations28Item 3.Quantitative and Qualitative Disclosures About Market Risk43Item 4.Controls and Procedures43PART II. OTHER INFORMATIONItem 1.Legal Proceedings44Item 1A.Risk Factors44Item 2.Unregistered Sales of Equity Securities, and Use of Proceeds44Item 3.Defaults Upon Senior Securities44Item 4.Mine Safety Disclosures44Item 5.Other Information44Item 6.Exhibits45Signatures47 CAUTIONARY STATEMENT REGARDING FORWARD-LOOKING STATEMENTS This Quarterly Report on Form 10-Q contains “forward-looking statements,” as that term is defined under the PrivateSecurities Litigation Reform Act of 1995 (“PSLRA”), Section 27A of the Securities Act of 1933, as amended, and Section 21E ofthe Securities Exchange Act of 1934, as amended (the “Exchange Act”). Forward-looking statements include statements about ourexpectations, beliefs or intentions regarding our business, financial condition, results of operations, strategies or prospects. You canidentify forward-looking statements by the fact that these statements do not relate strictly to historical or current matters. Rather,forward-looking statements relate to anticipated or expected events, activities, trends or results as of the date they are made.Because forward-looking statements relate to matters that have not yet occurred, these statements are inherently subject to risks anduncertainties that could cause our actual results to differ materially from any future results expressed or implied by the forward-looking statements. Many factors could cause our actual activities or results to differ materially from the activities and results Risks and uncertainties, the occurrence of which could adversely affect our business, include the following: •our ability to effectively compete in the highly competitive fragmented motor fuel distribution industry and the fleetfueling business;•sustained inflationary pressures on costs for labor, services and materials, and high interest rates;•seasonal trends;•changes in the wholesale prices of motor fuel;•significant changes in demand for fuel-based modes of transportation and for trucking services;•negative events or developments associated with branded motor fuel suppliers;•dependency on several principal suppliers for our fuel purchases and third-party transportation providers for thetransportation of most of our motor fuel;•significant portion of our revenue is generated under fuel supply agreements with dealers that must be renegotiated orreplaced periodically;•changes in economic conditions, tax or trade policy, and consumer confidence in the U.S.;•acquisitions not on economically acceptable terms, or acquisitions that do not perform as expected;•our ability to successfully integrate acquired operations or otherwise realize the expected benefits from ouracquisitions;•the Russia-Ukraine War, Israel-Hamas War, U.S./Israel-Iran War, events occurring in response thereto and anyexpansion of hostilities;•environmental protection and operational health and safety laws and regulations related to the distribution,transportation and storage of motor fuels, or business interruptions and inherent hazards and risks that may expose us,our custome