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 wholesale distributor of motor fuels, a convenience store operator, and an owner and lessor of real estate used in the retail distribution of motor fuels. This news page focuses on announcements and developments that the partnership discloses through press releases and related SEC filings.
Readers can find coverage of CrossAmerica’s quarterly and annual financial results, where the partnership reports metrics such as net income, Adjusted EBITDA, Distributable Cash Flow and Distribution Coverage Ratio. These updates also highlight performance in the Wholesale and Retail segments, including segment gross profit, motor fuel gallons distributed, fuel margins, merchandise gross profit and changes in site counts.
News items also describe CrossAmerica’s real estate rationalization and class of trade optimization efforts, including the sale of selected properties and the conversion of sites between wholesale, lessee dealer, company-operated and commission agent arrangements. Distribution announcements, including quarterly distributions per unit and related record and payment dates, are another recurring topic.
In addition, the news flow may include notices about the filing of the partnership’s Annual Report on Form 10-K, scheduling of earnings conference calls, and other material events reported on Form 8-K, such as leadership changes or updates on distribution decisions. Investors and observers who follow CAPL news can use this page to review how CrossAmerica describes its operating performance, capital allocation decisions and network changes over time.
CrossAmerica Partners LP (NYSE: CAPL) announced a $25 million issuance of Cumulative Preferred Membership Interests in its subsidiary, CAPL JKM Holdings LLC. The preferred interests were sold to affiliates of Chairman Joseph V. Topper, Jr. and Vice Chairman John B. Reilly, III, offering a 9.0% cumulative preferred return. Proceeds will be used to prepay a portion of the Term Loan Credit Facility, supporting the company’s recent $263 million acquisition from 7-Eleven. The transaction, approved by the board's Conflicts Committee, highlights strong leadership commitment to investor interests.
CrossAmerica Partners LP (NYSE: CAPL) filed its Annual Report on Form 10-K for the fiscal year ending December 31, 2021, on March 1, 2022. This report includes the Partnership's audited financial statements and can be accessed on the Partnership's website or the SEC's site. CrossAmerica Partners is a prominent wholesale fuel distributor, operating approximately 1,750 locations across 34 states and ranking among ExxonMobil's largest distributors by fuel volume in the U.S.
CrossAmerica Partners LP reported strong fourth-quarter and full-year 2021 results, achieving an operating income of $16.2 million and a net income of $12.0 million, up from $8.1 million and $9.0 million, respectively, in Q4 2020. Fourth-quarter Adjusted EBITDA reached a record $37.0 million, a 51% increase year-over-year. Significant growth was noted in gross profit across both wholesale (34% increase) and retail (64% increase) segments. The partnership declared a quarterly distribution of $0.5250 per unit for Q4 2021, marking a distribution coverage ratio of 1.56 times.
CrossAmerica Partners LP has announced a quarterly distribution of $0.5250 per unit for the fourth quarter of 2021.
This equates to an annualized rate of $2.10 per unit and will be payable on February 10, 2022, to unitholders of record as of February 3, 2022.
A conference call is scheduled for March 1, 2022, at 9:00 a.m. ET to discuss the fourth quarter and year-end earnings results, which will be released on February 28, 2022.
CrossAmerica Partners (NYSE: CAPL) will release its fourth quarter/year-end 2021 earnings results on February 28, 2022, post market closure. A live conference call is scheduled for March 1 at 9:00 a.m. ET. Investors can access the call via phone at 800-774-6070 or 630-691-2753 using passcode 8674133#. A webcast of the call and related earnings materials will also be available on CrossAmerica's website. The company operates as a wholesale distributor of motor fuels, serving approximately 1,800 locations across 34 states.
CrossAmerica Partners LP (CAPL) announced its third quarter 2021 financial results, reporting an operating income of $12.6 million and a net income of $8.9 million. This marks a decrease from $23.7 million and $21.2 million in Q3 2020, respectively. However, Adjusted EBITDA increased by 20% to $35.9 million, and Distributable Cash Flow rose to $30.4 million, demonstrating growth in operational performance despite challenges. The company distributed approximately 354.6 million gallons of fuel, showing an 8% increase in volume. Additionally, CrossAmerica closed on 98 properties from 7-Eleven, enhancing its retail footprint.
CrossAmerica Partners LP announced a quarterly distribution of $0.5250 per unit for Q3 2021, maintaining an annualized rate of $2.10 per unit. This distribution is payable on November 10, 2021, to unitholders of record as of November 3, 2021. The partnership, a key player in fuel distribution with operations in 34 states and relationships with major oil brands, will host a call on November 9 to discuss Q2 earnings results, which will be released on November 8.
CrossAmerica Partners LP (NYSE: CAPL) announced it will report its third quarter 2021 earnings on November 8, 2021, after market close. A conference call will follow on November 9 at 9:00 a.m. ET, providing insights into the financial performance and metrics of the company. The call can be accessed via toll-free numbers or a live audio webcast available on the CrossAmerica website. The company is a significant player in the wholesale distribution of motor fuels in the U.S.
CrossAmerica Partners LP (CAPL) reported its second quarter 2021 results, showing operating income of $8.2 million and net income of $4.8 million, compared to $6.3 million and $5.2 million in Q2 2020. Adjusted EBITDA increased by 7% to $29.7 million. Gross profit for the wholesale segment was $44.2 million, marking a 9% rise, while retail gross profit also increased by 32% to $21.1 million. The company began its $263 million acquisition of 106 convenience stores from 7-Eleven. The Board appointed Maura Topper as the new CFO, effective August 11, 2021.
CrossAmerica Partners LP announced a quarterly distribution of $0.5250 per unit for the second quarter of 2021, which is annualized to $2.10 per unit. This distribution is payable on August 10, 2021 to unitholders of record as of August 3, 2021. A conference call is scheduled for August 10 at 9:00 a.m. ET to discuss the earnings results, which will be released after the market closes on August 9.