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 reports developments for a publicly traded limited partnership that distributes branded and unbranded motor fuel, operates convenience stores, and owns or leases real estate used in retail fuel distribution. The Partnership's updates focus on Wholesale and Retail segment performance, motor fuel margins, merchandise gross profit, leverage, distributable cash flow, and distribution coverage.
Recurring announcements also cover quarterly cash distributions on CAPL common units, earnings-call schedules, annual-report filings, and governance changes at CrossAmerica GP LLC. Company materials describe a fuel-distribution footprint across 34 states with relationships across major oil brands including ExxonMobil, BP, Shell, Marathon, Valero, and Phillips 66.
CrossAmerica Partners LP (CAPL) reported strong first-quarter 2020 results, with operating income rising to $77.4 million and net income at $72.1 million, up from $7.6 million and $0.2 million in Q1 2019, respectively. A major factor was a $70.9 million gain from selling a 17.5% stake in CST Fuel Supply. Adjusted EBITDA grew to $25.3 million from $21.4 million, while the Distribution Coverage Ratio improved to 1.08 from 0.73 year-over-year. However, guidance for 2020 has been withdrawn due to uncertainties from the COVID-19 pandemic.