CrossAmerica Partners LP Reports First Quarter 2025 Results
- Net loss improved to $7.1M from $17.5M in Q1 2024
- Adjusted EBITDA increased to $24.3M from $23.6M year-over-year
- Retail segment gross profit increased 16% to $63.2M
- Leverage ratio improved to 4.27x from 4.36x in December 2024
- Generated $8.6M in proceeds from sale of seven sites with $5.6M net gain
- Distributable Cash Flow decreased to $9.1M from $11.7M year-over-year
- Distribution Coverage Ratio declined to 1.04x from 1.37x year-over-year
- Same store fuel volume declined 4% in retail segment
- Wholesale segment volume decreased 11%
- Operating expenses increased 20% in retail segment
Insights
CrossAmerica shows mixed Q1 results with improved EBITDA but concerning distribution coverage; their financial position remains precarious despite rationalization efforts.
CrossAmerica Partners' Q1 2025 results reveal a company navigating significant operational challenges. While they managed to narrow their net loss to
Most notably, the distribution coverage ratio deteriorated substantially to just 0.46x for the quarter, meaning the company generated only enough cash to cover
The retail segment delivered
The wholesale segment underperformed with a slight
The company's leverage ratio of 4.27x, though slightly improved from 4.36x at year-end, remains elevated. Their ongoing real estate rationalization efforts produced
Management's candid acknowledgment of the "challenging start to the year" and focus on portfolio optimization suggest they recognize the precarious position. While the slight EBITDA improvement is positive, the declining distribution coverage and same-store performance metrics indicate the company faces significant obstacles in sustaining its current distribution level without meaningful operational improvements.
Allentown, PA, May 07, 2025 (GLOBE NEWSWIRE) -- 
CrossAmerica Partners LP Reports First Quarter 2025 Results
- Reported First Quarter of 2025 Net Loss of
$7.1 million , Adjusted EBITDA of$24.3 million and Distributable Cash Flow of$9.1 million compared to a Net Loss of$17.5 million , Adjusted EBITDA of$23.6 million and Distributable Cash Flow of$11.7 million for the First Quarter of 2024 - Reported First Quarter of 2025 Gross Profit for the Retail Segment of
$63.2 million compared to$54.4 million of Gross Profit for the First Quarter of 2024 and First Quarter of 2025 Gross Profit for the Wholesale Segment of$26.7 million compared to$27.0 million of Gross Profit for the First Quarter of 2024 - Leverage, as defined in the CAPL Credit Facility, was 4.27 times as of March 31, 2025, compared to 4.36 times as of December 31, 2024
- The Distribution Coverage Ratio for the trailing twelve months ended March 31, 2025 was 1.04 times compared to 1.37 times for the comparable period of 2024
- The Board of Directors of CrossAmerica's General Partner declared a quarterly distribution of
$0.52 50 per limited partner unit attributable to the First Quarter of 2025
Allentown, PA May 7, 2025 – CrossAmerica Partners LP (NYSE: CAPL) (“CrossAmerica” or the “Partnership”), a leading wholesale fuels distributor, convenience store operator, and owner and lessor of real estate used in the retail distribution of motor fuels, today reported financial results for the first quarter ended March 31, 2025.
"The first quarter was once again a challenging start to the year for the industry overall. While our EBITDA improved modestly compared to the prior year, our results reflect the difficult operating environment,” said Charles Nifong, President and CEO of CrossAmerica. “Our retail fuel volume was in line with the broader market, and we outperformed in same-store merchandise sales. A highlight of the quarter was the relative strength of our fuel margins across both our wholesale and retail segments. We also continued to successfully execute our asset rationalization strategy and, through our ongoing initiatives such as optimizing sites by class of trade, further enhanced the strength of our portfolio for the future.”
First Quarter Results
Consolidated Results
| Key Operating Metrics | Q1 2025 | Q1 2024 |
| Net Income (Loss) | ( | ( |
| Adjusted EBITDA | ||
| Distributable Cash Flow | ||
| Distribution Coverage Ratio: Current Quarter | 0.46x | 0.59x |
| Distribution Coverage Ratio: Trailing 12 Months | 1.04x | 1.37x |
CrossAmerica reported increases in Net Income (Loss) and Adjusted EBITDA for the first quarter of 2025 compared to the first quarter of 2024. The increase in Adjusted EBITDA was primarily driven by an overall increase in gross profit in the retail segment partially offset by a slight decline in gross profit for the wholesale segment and an overall increase in operating expenses. In addition to the factors impacting Adjusted EBITDA, Net Income (Loss) was further benefited by gains on the sales of assets in connection with CrossAmerica's ongoing real estate rationalization effort, as well as lower expenses related to lease terminations, specifically the lease termination expense related to the Applegreen acquisition that occurred during the first quarter of 2024. This was partially offset by an increase of
Retail Segment
| Key Operating Metrics | Q1 2025 | Q1 2024 | ||||
| Retail segment gross profit | ||||||
| Retail segment motor fuel gallons distributed | 126.5M | 121.7M | ||||
| Same store motor fuel gallons distributed | 108.3M | 113.1M | ||||
| Retail segment motor fuel gross profit | ||||||
| Retail segment margin per gallon, before deducting credit card fees and commissions | $ | 0.339 | $ | 0.308 | ||
| Same store merchandise sales excluding cigarettes* | ||||||
| Merchandise gross profit* | ||||||
| Merchandise gross profit percentage* | 27.9 | % | 28.1 | % | ||
| Operating Expenses | ||||||
| Retail Sites (end of period) | 610 | 546 | ||||
*Includes only company operated retail sites
For the first quarter of 2025, the retail segment generated a
The motor fuel gross profit for the retail segment increased
For the first quarter of 2025, CrossAmerica’s merchandise gross profit increased
For the first quarter of 2025, operating expenses for the retail segment increased
Wholesale Segment
| Key Operating Metrics | Q1 2025 | Q1 2024 | ||
| Wholesale segment gross profit | ||||
| Wholesale motor fuel gallons distributed | 162.9M | 184.0M | ||
| Average wholesale gross profit per gallon | $ | 0.097 | $ | 0.079 |
During the first quarter of 2025, CrossAmerica’s wholesale segment gross profit decreased
Divestment Activity
During the three months ended March 31, 2025, CrossAmerica sold seven sites for
Liquidity and Capital Resources
As of March 31, 2025, CrossAmerica had
Distributions
On April 22, 2025, the Board of the Directors of CrossAmerica’s General Partner (“Board”) declared a quarterly distribution of
Conference Call
The Partnership will host a conference call on May 8, 2025, at 9:00 a.m. Eastern Time to discuss the first quarter of 2025 earnings results. The conference call numbers are 800-717-1738 or 646-307-1865 and the passcode for both is 274981. A live audio webcast of the conference call and the related earnings materials, including reconciliations of any non-GAAP financial measures to GAAP financial measures and any other applicable disclosures, will be available on that same day on the investor section of the CrossAmerica website (www.crossamericapartners.com). After the live conference call, an archive of the webcast will be available on the investor section of the CrossAmerica site at https://caplp.gcs-web.com/webcasts-presentations within 24 hours after the call for a period of sixty days.
Non-GAAP Measures and Same Store Metrics
Non-GAAP measures used in this release include EBITDA, Adjusted EBITDA, Distributable Cash Flow and Distribution Coverage Ratio. These Non-GAAP measures are further described and reconciled to their most directly comparable GAAP measures in the Supplemental Disclosure Regarding Non-GAAP Financial Measures section of this release.
Same store fuel volume and same store merchandise sales include aggregated individual store results for all stores that had fuel volume or merchandise sales in all months for both periods within the same segment. Same store merchandise sales excludes other revenues such as lottery commissions and car wash sales. Certain merchandise products have been transitioned from a scan-based trading model (whereby a third party owns the inventory and CrossAmerica records a commission in other revenues) to a gross profit model (whereby CrossAmerica owns the inventory and records sales and cost of sales). Same store merchandise sales for the three months ended March 31, 2024, was adjusted to gross it up for the sales that would have been recorded had CrossAmerica been on the gross profit model in the prior year.
CROSSAMERICA PARTNERS LP
CONSOLIDATED BALANCE SHEETS
(Thousands of Dollars, except unit data)
| March 31, | December 31, | |||||||
| 2025 | 2024 | |||||||
| ASSETS | ||||||||
| Current assets: | ||||||||
| Cash and cash equivalents | $ | 6,748 | $ | 3,381 | ||||
| Accounts receivable, net of allowances of | 28,742 | 31,603 | ||||||
| Accounts receivable from related parties | 647 | 634 | ||||||
| Inventory | 60,889 | 63,169 | ||||||
| Assets held for sale | 41,895 | 8,994 | ||||||
| Current portion of interest rate swap contracts | 2,386 | 2,958 | ||||||
| Other current assets | 10,140 | 8,091 | ||||||
| Total current assets | 151,447 | 118,830 | ||||||
| Property and equipment, net | 606,465 | 656,300 | ||||||
| Right-of-use assets, net | 132,325 | 136,430 | ||||||
| Intangible assets, net | 73,107 | 77,242 | ||||||
| Goodwill | 99,409 | 99,409 | ||||||
| Deferred tax assets | 1,757 | 1,001 | ||||||
| Interest rate swap contracts, less current portion | 1,858 | 5,133 | ||||||
| Other assets | 20,201 | 20,380 | ||||||
| Total assets | $ | 1,086,569 | $ | 1,114,725 | ||||
| LIABILITIES AND EQUITY | ||||||||
| Current liabilities: | ||||||||
| Current portion of debt and finance lease obligations | $ | 3,317 | $ | 3,266 | ||||
| Current portion of operating lease obligations | 35,155 | 35,065 | ||||||
| Accounts payable | 74,024 | 73,986 | ||||||
| Accounts payable to related parties | 7,181 | 7,729 | ||||||
| Current portion of interest rate swap contracts | 148 | — | ||||||
| Accrued expenses and other current liabilities | 25,580 | 24,044 | ||||||
| Motor fuel and sales taxes payable | 18,284 | 18,756 | ||||||
| Total current liabilities | 163,689 | 162,846 | ||||||
| Debt and finance lease obligations, less current portion | 774,075 | 763,932 | ||||||
| Operating lease obligations, less current portion | 102,032 | 106,296 | ||||||
| Deferred tax liabilities, net | 4,875 | 7,424 | ||||||
| Asset retirement obligations | 48,422 | 48,251 | ||||||
| Interest rate swap contracts, less current portion | 1,200 | 311 | ||||||
| Other long-term liabilities | 48,602 | 50,448 | ||||||
| Total liabilities | 1,142,895 | 1,139,508 | ||||||
| Commitments and contingencies (Note 10) | ||||||||
| Preferred membership interests | 29,658 | 28,993 | ||||||
| Equity: | ||||||||
| Common units— 38,097,513 and 38,059,702 units issued and outstanding at March 31, 2025 and December 31, 2024, respectively | (88,730 | ) | (61,371 | ) | ||||
| Accumulated other comprehensive income | 2,746 | 7,595 | ||||||
| Total equity | (85,984 | ) | (53,776 | ) | ||||
| Total liabilities and equity | $ | 1,086,569 | $ | 1,114,725 | ||||
CROSSAMERICA PARTNERS LP
CONSOLIDATED STATEMENTS OF OPERATIONS
(Thousands of Dollars, Except Unit and Per Unit Amounts)
| Three Months Ended March 31, | ||||||||
| 2025 | 2024 | |||||||
| Operating revenues (a) | $ | 862,475 | $ | 941,548 | ||||
| Costs of sales (b) | 772,661 | 860,200 | ||||||
| Gross profit | 89,814 | 81,348 | ||||||
| Operating expenses: | ||||||||
| Operating expenses (c) | 58,874 | 52,028 | ||||||
| General and administrative expenses | 7,672 | 6,838 | ||||||
| Depreciation, amortization and accretion expense | 26,304 | 18,721 | ||||||
| Total operating expenses | 92,850 | 77,587 | ||||||
| Gain (loss) on dispositions and lease terminations, net | 5,037 | (16,806 | ) | |||||
| Operating income (loss) | 2,001 | (13,045 | ) | |||||
| Other income, net | 130 | 249 | ||||||
| Interest expense | (12,844 | ) | (10,541 | ) | ||||
| Loss before income taxes | (10,713 | ) | (23,337 | ) | ||||
| Income tax benefit | (3,598 | ) | (5,797 | ) | ||||
| Net loss | (7,115 | ) | (17,540 | ) | ||||
| Accretion of preferred membership interests | 665 | 657 | ||||||
| Net loss available to limited partners | $ | (7,780 | ) | $ | (18,197 | ) | ||
| Net loss per common unit | ||||||||
| Basic | $ | (0.20 | ) | $ | (0.48 | ) | ||
| Diluted | $ | (0.20 | ) | $ | (0.48 | ) | ||
| Weighted-average common units: | ||||||||
| Basic | 38,073,986 | 37,994,285 | ||||||
| Diluted | 38,073,986 | 37,994,285 | ||||||
| Supplemental information: | ||||||||
| (a) includes excise taxes of: | $ | 73,350 | $ | 70,713 | ||||
| (a) includes rent income of: | 17,202 | 19,166 | ||||||
| (b) excludes depreciation, amortization and accretion | ||||||||
| (b) includes rent expense of: | 4,895 | 5,419 | ||||||
| (c) includes rent expense of: | 4,611 | 3,942 | ||||||
CROSSAMERICA PARTNERS LP
CONSOLIDATED STATEMENTS OF CASH FLOWS
(Thousands of Dollars)
| Three Months Ended March 31, | ||||||||
| 2025 | 2024 | |||||||
| Cash flows from operating activities: | ||||||||
| Net loss | $ | (7,115 | ) | $ | (17,540 | ) | ||
| Adjustments to reconcile net loss to net cash provided by operating activities: | ||||||||
| Depreciation, amortization and accretion expense | 26,304 | 18,721 | ||||||
| Amortization of deferred financing costs | 485 | 483 | ||||||
| Deferred income tax benefit | (3,692 | ) | (5,932 | ) | ||||
| Equity-based employee and director compensation expense | 813 | 205 | ||||||
| (Gain) loss on dispositions and lease terminations, net | (5,037 | ) | 16,806 | |||||
| Changes in operating assets and liabilities, net of acquisitions | 3,289 | (6,927 | ) | |||||
| Net cash provided by operating activities | 15,047 | 5,816 | ||||||
| Cash flows from investing activities: | ||||||||
| Principal payments received on notes receivable | 34 | 45 | ||||||
| Proceeds from sale of assets | 8,745 | — | ||||||
| Capital expenditures | (10,114 | ) | (6,105 | ) | ||||
| Lease termination payments to Applegreen, including inventory purchases | — | (19,904 | ) | |||||
| Net cash used in investing activities | (1,335 | ) | (25,964 | ) | ||||
| Cash flows from financing activities: | ||||||||
| Borrowings under the Credit Facility | 29,000 | 49,000 | ||||||
| Repayments on the Credit Facility | (18,500 | ) | (6,740 | ) | ||||
| Payments of finance lease obligations | (791 | ) | (744 | ) | ||||
| Payments of deferred financing costs | — | (74 | ) | |||||
| Distributions paid on distribution equivalent rights | (73 | ) | (65 | ) | ||||
| Distributions paid on common units | (19,981 | ) | (19,941 | ) | ||||
| Net cash (used in) provided by financing activities | (10,345 | ) | 21,436 | |||||
| Net increase in cash and cash equivalents | 3,367 | 1,288 | ||||||
| Cash and cash equivalents at beginning of period | 3,381 | 4,990 | ||||||
| Cash and cash equivalents at end of period | $ | 6,748 | $ | 6,278 | ||||
Segment Results
Retail
The following table highlights the results of operations and certain operating metrics of the Retail segment (in thousands, except for the number of retail sites and per gallon amounts):
| Three Months Ended March 31, | ||||||||
| 2025 | 2024 | |||||||
| Gross profit: | ||||||||
| Motor fuel | $ | 31,180 | $ | 26,036 | ||||
| Merchandise | 24,913 | 21,443 | ||||||
| Rent | 2,611 | 2,308 | ||||||
| Other revenue | 4,455 | 4,599 | ||||||
| Total gross profit | 63,159 | 54,386 | ||||||
| Operating expenses | (51,704 | ) | (43,131 | ) | ||||
| Operating income | $ | 11,455 | $ | 11,255 | ||||
| Retail sites (end of period): | ||||||||
| Company operated retail sites (a) | 376 | 343 | ||||||
| Commission agents (b) | 234 | 203 | ||||||
| Total system sites at the end of the period | 610 | 546 | ||||||
| Total retail segment statistics: | ||||||||
| Volume of gallons sold | 126,532 | 121,717 | ||||||
| Same store total system gallons sold(c) | 108,325 | 113,091 | ||||||
| Average retail fuel sites | 599 | 514 | ||||||
| Margin per gallon, before deducting credit card fees and commissions | $ | 0.339 | $ | 0.308 | ||||
| Company operated site statistics: | ||||||||
| Average retail fuel sites | 368 | 315 | ||||||
| Same store fuel volume(c) | 73,853 | 77,293 | ||||||
| Margin per gallon, before deducting credit card fees | $ | 0.374 | $ | 0.327 | ||||
| Same store merchandise sales(c) | $ | 69,382 | $ | 70,443 | ||||
| Same store merchandise sales excluding cigarettes(c) | $ | 48,720 | $ | 49,084 | ||||
| Merchandise gross profit percentage | 27.9 | % | 28.1 | % | ||||
| Commission site statistics: | ||||||||
| Average retail fuel sites | 231 | 199 | ||||||
| Margin per gallon, before deducting credit card fees and commissions | $ | 0.263 | $ | 0.267 | ||||
(a) The increase in the company operated site count was primarily attributable to the conversion of certain lessee dealer sites to company operated sites.
(b) The increase in the commission agent site count was primarily attributable to the conversion of certain lessee dealer sites to commission agent sites, partially offset by the sale of certain commission agent sites in connection with CrossAmerica's real estate rationlization effort.
(c) Same store fuel volume and same store merchandise sales include aggregated individual store results for all stores that had fuel volume or merchandise sales in all months for both periods. Same store merchandise sales excludes other revenues such as lottery commissions and car wash sales. Certain merchandise products have been transitioned from a scan-based trading model (whereby a third party owns the inventory and CrossAmerica records a commission in other revenues) to a gross profit model (whereby CrossAmerica owns the inventory and records sales and cost of sales). Same store merchandise sales for the three months ended March 31, 2024, was adjusted to gross it up for the sales that would have been recorded had CrossAmerica been on the the gross profit model in the prior year.
Wholesale
The following table highlights the results of operations and certain operating metrics of the Wholesale segment (thousands of dollars, except for the number of distribution sites and per gallon amounts):
| Three Months Ended March 31, | ||||||||
| 2025 | 2024 | |||||||
| Gross profit: | ||||||||
| Motor fuel gross profit | $ | 15,764 | $ | 14,603 | ||||
| Rent gross profit | 9,696 | 11,439 | ||||||
| Other revenues | 1,195 | 920 | ||||||
| Total gross profit | 26,655 | 26,962 | ||||||
| Operating expenses | (7,170 | ) | (8,897 | ) | ||||
| Operating income | $ | 19,485 | $ | 18,065 | ||||
| Motor fuel distribution sites (end of period): (a) | ||||||||
| Independent dealers (b) | 604 | 624 | ||||||
| Lessee dealers (c) | 412 | 511 | ||||||
| Total motor fuel distribution sites | 1,016 | 1,135 | ||||||
| Average motor fuel distribution sites | 1,031 | 1,172 | ||||||
| Volume of gallons distributed | 162,918 | 184,025 | ||||||
| Margin per gallon | $ | 0.097 | $ | 0.079 | ||||
(a) In addition, CrossAmerica distributed motor fuel to sub-wholesalers who distributed to additional sites.
(b) The decrease in the independent dealer site count was primarily attributable to the net loss of contracts, partially offset by divestitures of certain lessee dealer and commission agent sites but with continued fuel supply.
(c) The decrease in the lessee dealer count was primarily attributable to the conversion of certain lessee dealer sites to company operated and commission agent sites, including through the Applegreen acquisition, and CrossAmerica's real estate rationalization effort.
Supplemental Disclosure Regarding Non-GAAP Financial Measures
CrossAmerica uses the non-GAAP financial measures EBITDA, Adjusted EBITDA, Distributable Cash Flow and Distribution Coverage Ratio. EBITDA represents net income (loss) before deducting interest expense, income taxes and depreciation, amortization and accretion (which includes certain impairment charges). Adjusted EBITDA represents EBITDA as further adjusted to exclude equity-based compensation expense, gains or losses on dispositions and lease terminations, net and certain discrete acquisition related costs, such as legal and other professional fees, separation benefit costs and certain other discrete non-cash items arising from purchase accounting. Distributable Cash Flow represents Adjusted EBITDA less cash interest expense, sustaining capital expenditures and current income tax expense. The Distribution Coverage Ratio is computed by dividing Distributable Cash Flow by distributions paid on common units.
EBITDA, Adjusted EBITDA, Distributable Cash Flow and Distribution Coverage Ratio are used as supplemental financial measures by management and by external users of our financial statements, such as investors and lenders. EBITDA and Adjusted EBITDA are used to assess CrossAmerica’s financial performance without regard to financing methods, capital structure or income taxes and the ability to incur and service debt and to fund capital expenditures. In addition, Adjusted EBITDA is used to assess the operating performance of the Partnership’s business on a consistent basis by excluding the impact of items which do not result directly from the wholesale distribution of motor fuel, the leasing of real property, or the day to day operations of CrossAmerica’s retail site activities. EBITDA, Adjusted EBITDA, Distributable Cash Flow and Distribution Coverage Ratio are also used to assess the ability to generate cash sufficient to make distributions to CrossAmerica’s unitholders.
CrossAmerica believes the presentation of EBITDA, Adjusted EBITDA, Distributable Cash Flow and Distribution Coverage Ratio provides useful information to investors in assessing the financial condition and results of operations. EBITDA, Adjusted EBITDA, Distributable Cash Flow and Distribution Coverage Ratio should not be considered alternatives to net income or any other measure of financial performance or liquidity presented in accordance with U.S. GAAP. EBITDA, Adjusted EBITDA, Distributable Cash Flow and Distribution Coverage Ratio have important limitations as analytical tools because they exclude some but not all items that affect net income. Additionally, because EBITDA, Adjusted EBITDA, Distributable Cash Flow and Distribution Coverage Ratio may be defined differently by other companies in the industry, CrossAmerica’s definitions may not be comparable to similarly titled measures of other companies, thereby diminishing their utility.
The following table presents reconciliations of EBITDA, Adjusted EBITDA, and Distributable Cash Flow to net income (loss), the most directly comparable U.S. GAAP financial measure, for each of the periods indicated (in thousands, except for Distribution Coverage Ratio):
| Three Months Ended March 31, | ||||||||
| 2025 | 2024 | |||||||
| Net loss | $ | (7,115 | ) | $ | (17,540 | ) | ||
| Interest expense | 12,844 | 10,541 | ||||||
| Income tax benefit | (3,598 | ) | (5,797 | ) | ||||
| Depreciation, amortization and accretion expense | 26,304 | 18,721 | ||||||
| EBITDA | 28,435 | 5,925 | ||||||
| Equity-based employee and director compensation expense | 813 | 205 | ||||||
| (Gain) loss on dispositions and lease terminations, net (a) | (5,037 | ) | 16,806 | |||||
| Acquisition-related costs (b) | 58 | 632 | ||||||
| Adjusted EBITDA | 24,269 | 23,568 | ||||||
| Cash interest expense | (12,359 | ) | (10,058 | ) | ||||
| Sustaining capital expenditures (c) | (2,721 | ) | (1,642 | ) | ||||
| Current income tax expense | (94 | ) | (137 | ) | ||||
| Distributable Cash Flow | $ | 9,095 | $ | 11,731 | ||||
| Distributions paid on common units | 19,981 | 19,941 | ||||||
| Distribution Coverage Ratio | 0.46x | 0.59x | ||||||
(a) During the three months ended March 31, 2025, CrossAmerica recorded
(b) Relates to certain acquisition-related costs, such as legal and other professional fees, separation benefit costs and purchase accounting adjustments associated with recent acquisitions.
(c) Under the Partnership Agreement, sustaining capital expenditures are capital expenditures made to maintain CrossAmerica's long-term operating income or operating capacity. Examples of sustaining capital expenditures are those made to maintain existing contract volumes or to maintain the sites in conditions suitable to lease, such as parking lot or roof replacement/renovation, or to replace equipment required to operate the existing business.
About CrossAmerica Partners LP
CrossAmerica Partners LP is a leading wholesale distributor of motor fuels, convenience store operator, and owner and lessee of real estate used in the retail distribution of motor fuels. Its general partner, CrossAmerica GP LLC, is indirectly owned and controlled by entities affiliated with Joseph V. Topper, Jr., the founder of CrossAmerica Partners and a member of the board of the general partner since 2012. Formed in 2012, CrossAmerica Partners LP is a distributor of branded and unbranded petroleum for motor vehicles in the United States and distributes fuel to approximately 1,600 locations and owns or leases approximately 1,100 sites. With a geographic footprint covering 34 states, the Partnership has well-established relationships with several major oil brands, including ExxonMobil, BP, Shell, Marathon, Valero, Phillips 66 and other major brands. CrossAmerica Partners LP ranks as one of ExxonMobil’s largest distributors by fuel volume in the United States and in the top 10 for additional brands. For additional information, please visit www.crossamericapartners.com.
Contact
Investor Relations: Randy Palmer, rpalmer@caplp.com or 610-625-8000
Cautionary Statement Regarding Forward-Looking Statements
Statements contained in this release that state the Partnership’s or management’s expectations or predictions of the future are forward-looking statements. The words “believe,” “expect,” “should,” “intends,” “estimates,” “target” and other similar expressions identify forward-looking statements. It is important to note that actual results could differ materially from those projected in such forward-looking statements. For more information concerning factors that could cause actual results to differ from those expressed or forecasted, see CrossAmerica’s Form 10-K or Forms 10-Q filed with the Securities and Exchange Commission, and available on CrossAmerica’s website at www.crossamericapartners.com. The Partnership undertakes no obligation to publicly update or revise any statements in this release, whether as a result of new information, future events or otherwise.
FAQ
What were CrossAmerica Partners' (CAPL) key financial results for Q1 2025?
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