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CrossAmerica Partners LP - CAPL STOCK NEWS

Welcome to our dedicated page for CrossAmerica Partners LP news (Ticker: CAPL), a resource for investors and traders seeking the latest updates and insights on CrossAmerica Partners LP stock.

CrossAmerica Partners LP (NYSE: CAPL) is a leading wholesale distributor of motor fuels and an owner and lessor of real estate used in the retail distribution of motor fuels. Formed in 2012, the company operates through two primary segments: Wholesale and Retail.

In the Wholesale segment, CrossAmerica distributes branded and unbranded petroleum to approximately 1,700 locations across 34 states in the United States. It maintains strong relationships with several major oil brands, including ExxonMobil, BP, Shell, Sunoco, Valero, Gulf, Citgo, Marathon, and Phillips 66. The company is recognized as one of ExxonMobil's largest distributors by fuel volume in the United States.

The Retail segment involves operating convenience stores and selling motor fuel directly at retail sites. CrossAmerica's retail operations also include selling convenience merchandise items at company-operated sites and those managed by commission agents.

In recent achievements, CrossAmerica has continued to expand its operations, including the acquisition of assets from Applegreen Midwest, LLC and Applegreen Florida, LLC at 59 locations. This expansion has strengthened its footprint and operational scale. Financially, the company has experienced fluctuations, reporting declines in net income and Adjusted EBITDA for the third quarter of 2023 compared to the previous year, primarily due to lower motor fuel margins and increased interest expenses.

Despite these challenges, CrossAmerica has demonstrated resilience through strategic initiatives such as brand consolidation and better sourcing costs. The company also reported an increase in merchandise gross profit and improved performance in fuel gross profit in both the wholesale and retail segments for the fourth quarter of 2023.

For more detailed financial information and updates, CrossAmerica Partners regularly releases quarterly and annual financial results, with conference calls hosted by management. Investors and interested parties can access these resources via the company's investor relations section on their website.

For additional information, please visit www.crossamericapartners.com.

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CrossAmerica Partners LP (NYSE: CAPL) has announced its schedule for releasing second quarter 2024 earnings results. The company will disclose its financial performance after market close on Wednesday, August 7, 2024. Following this, management will host a conference call on Thursday, August 8 at 9:00 a.m. Eastern Time to discuss the results.

Investors and analysts can join the call using the numbers 800-717-1738 or 646-307-1865, with the passcode 29269. A live audio webcast of the call and related earnings materials will be available on the investor section of CrossAmerica's website. The webcast archive will remain accessible for 60 days after the call.

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CrossAmerica Partners LP reported a Net Loss of $17.5 million in Q1 2024, with Adjusted EBITDA of $23.6 million and Distributable Cash Flow of $11.7 million. The Gross Profit for Wholesale Segment decreased, while the Retail Segment saw an increase. Leverage increased to 4.49 times. The Distribution Coverage Ratio declined to 1.37 times. The company converted Applegreen lessee dealer locations to company operated sites. Quarterly distribution declared at $0.5250 per unit.

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CrossAmerica Partners LP (NYSE: CAPL) has announced a quarterly distribution of $0.5250 per unit for the first quarter of 2024, totaling $2.10 per unit annually. The distribution will be paid on May 10, 2024, to unitholders of record on May 3, 2024. A conference call to discuss first quarter 2024 earnings results will be held on May 9th.
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CrossAmerica Partners LP (NYSE: CAPL) will release its first quarter 2024 earnings results on May 8, 2024. A conference call will follow on May 9 at 9:00 a.m. Eastern Time. Investors can access the call through the provided numbers and webcast link on the company's website.
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CrossAmerica Partners LP (CAPL) filed its 2023 Annual Report on Form 10-K for the fiscal year ending December 31, 2023, with the SEC. The report includes audited financial statements and can be accessed on the company's website or the SEC's website. Unitholders can request a printed copy through the provided channels.
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CrossAmerica Partners LP reported solid financial results for the fourth quarter and full year of 2023. The company achieved a net income of $16.7 million in Q4 2023, with Adjusted EBITDA of $47.6 million and Distributable Cash Flow of $35.8 million. However, the full year 2023 saw a decline in Net Income, Adjusted EBITDA, Distributable Cash Flow, and Distribution Coverage Ratio compared to 2022. The Wholesale Segment saw a 1% increase in gross profit in Q4 2023, driven by improved fuel margins. The Retail Segment experienced a 14% increase in gross profit in Q4 2023, attributed to higher fuel and merchandise gross profit. CrossAmerica also announced a quarterly distribution of $0.5250 per limited partner unit for Q4 2023.
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Kayne Energy Infrastructure (KEI) announced the return of Eric Javidi and Harrison Little to the firm in senior leadership roles. With over $4 billion in assets, KEI focuses on the energy infrastructure sector, including traditional and renewable infrastructure. Javidi will join as Managing Partner and Co-head of KEI, while Little will serve as Deputy Co-head of KEI and Director of Research. The move is aimed at capitalizing on the compelling investment environment for energy infrastructure, leveraging the experience of Javidi and Little in traditional energy and energy transition.
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CrossAmerica Partners LP (CAPL) maintains a quarterly distribution of $0.5250 per unit for the fourth quarter of 2023, with an annualized total of $2.10 per unit. The distribution will be payable on February 9, 2024, to all unitholders of record on February 2, 2024. The company will also host a conference call on February 27th to discuss fourth quarter and full year 2023 earnings results.
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CrossAmerica Partners LP (NYSE: CAPL) will release its fourth quarter and full year 2023 earnings results on February 26, 2024. Management will host a conference call on February 27 at 9:00 a.m. Eastern Time. An audio webcast and related earnings materials will be available on the investor section of the CrossAmerica website.
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CAPL CrossAmerica Partners LP Reports Third Quarter 2023 Results with Net Income of $12.3M, Adjusted EBITDA of $44.2M and Distributable Cash Flow of $31.4M
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FAQ

What does CrossAmerica Partners LP do?

CrossAmerica Partners LP is a leading wholesale distributor of motor fuels and an owner and lessor of real estate used in the retail distribution of motor fuels.

Which major oil brands does CrossAmerica Partners LP distribute?

CrossAmerica distributes fuel from major brands including ExxonMobil, BP, Shell, Sunoco, Valero, Gulf, Citgo, Marathon, and Phillips 66.

How many locations does CrossAmerica Partners LP distribute fuel to?

CrossAmerica distributes fuel to approximately 1,700 locations and owns or leases around 1,100 sites.

What are the two main business segments of CrossAmerica Partners LP?

The two main business segments are Wholesale, which involves distribution of motor fuels, and Retail, which involves operating convenience stores and selling fuel directly to consumers.

What was a recent acquisition by CrossAmerica Partners LP?

Recently, CrossAmerica acquired assets from Applegreen Midwest, LLC and Applegreen Florida, LLC at 59 locations.

How did CrossAmerica Partners LP perform in the third quarter of 2023?

CrossAmerica reported a decline in net income and Adjusted EBITDA for the third quarter of 2023 compared to the third quarter of 2022, primarily due to lower motor fuel margins and increased interest expenses.

What are some financial metrics reported by CrossAmerica Partners LP?

Key financial metrics include net income, Adjusted EBITDA, Distributable Cash Flow, and fuel gross profit.

How can investors access CrossAmerica Partners LP's financial results?

Investors can access financial results through the company's investor relations section on their website and participate in quarterly conference calls hosted by management.

What is the geographic footprint of CrossAmerica Partners LP?

CrossAmerica has a geographic footprint covering 34 states in the United States.

Who is the general partner of CrossAmerica Partners LP?

The general partner is CrossAmerica GP LLC, which is indirectly owned and controlled by entities affiliated with Joseph V. Topper, Jr., the founder of CrossAmerica Partners.

CrossAmerica Partners LP

NYSE:CAPL

CAPL Rankings

CAPL Stock Data

745.71M
38.03M
52.36%
24.57%
0.21%
Pipeline Transportation of Crude Oil
Transportation and Warehousing
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United States of America
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