CrossAmerica Partners LP approved a $0.5250 per-unit distribution attributable to the third quarter of 2026, annualized at $2.10 per unit and consistent with the second quarter. Payment is scheduled for November 12, 2026, to unitholders of record November 2, 2026. The partnership will release third-quarter results after market close November 4 and host a conference call November 5 at 9:00 a.m. Eastern Time.
CrossAmerica distributes branded and unbranded petroleum, serving approximately 1,500 locations and owning or leasing approximately 900 sites across 34 states.
CrossAmerica Partners LP reported stronger year‑to‑date results for the six months ended June 30, 2026. Operating revenues rose to $2.02 billion from $1.82 billion and net income increased to $31.5 million from $18.1 million, helped by higher motor fuel margins in both retail and wholesale segments and significantly lower impairment charges. Operating cash flow improved to $61.1 million from $37.7 million.
For the second quarter, revenues grew 23% to $1.18 billion while net income declined to $20.8 million from $25.2 million, mainly because 2025 included much larger gains on asset sales. Underlying operations improved: retail segment operating income increased to $37.0 million and wholesale to $20.8 million, driven by higher cents‑per‑gallon fuel margins despite lower volumes and fewer sites following real estate divestitures.
Total assets were $982.0 million, with debt and finance lease obligations of $730.6 million, including $671.6 million outstanding on the Credit Facility and $59.0 million of finance lease obligations after modifying the Getty lease. A July 2026 amendment extended Credit Facility maturity to July 15, 2031 and set a maximum Consolidated Leverage Ratio of 5.00x through September 2027 and 4.75x thereafter; availability was $248.5 million.
The partnership continued its real estate optimization, selling 21 properties in the first half for $15.4 million of proceeds and recognizing $7.4 million in net gains, while impairment charges fell to $2.8 million from $14.9 million. Cash distributions on common units remained $0.5250 per unit quarterly, totaling $40.1 million for the first half versus net income available to limited partners of $30.1 million.
CrossAmerica Partners LP reported second quarter 2026 results with net income of $20.8 million versus $25.2 million a year earlier, while Adjusted EBITDA rose to $51.8 million from $37.1 million and Distributable Cash Flow increased to $33.6 million from $22.4 million. Distribution coverage improved to 1.68x for the quarter and 1.39x for the trailing twelve months.
The retail segment generated gross profit of $85.7 million, up from $76.1 million, driven by higher fuel margin per gallon and stronger merchandise margins despite lower volumes and a smaller site count. The wholesale segment produced gross profit of $27.1 million, up from $24.9 million, as fuel margin per gallon increased even as volumes declined.
Leverage under the credit facility improved to 3.57x as of June 30, 2026, with $671.6 million outstanding, and a July 2026 amendment extended the facility’s maturity to July 15, 2031. The board declared a quarterly cash distribution of $0.5250 per common unit attributable to the quarter, payable August 13, 2026, and appointed Jonathan Benfield as Chief Financial Officer effective July 20, 2026.
CrossAmerica Partners LP reporting person John B. Reilly III, a director and 10% owner, reported the vesting and conversion of phantom units into common units on July 23, 2026. The conversion delivered 3154.0000 Common Units, and he now directly holds 36621.0000 Common Units following the transaction.
CrossAmerica Partners LP director and 10% owner Joseph V. Topper Jr. acquired 3,154 Common Units on July 23, 2026 through the vesting and conversion of phantom units, each economically equivalent to one Common Unit. After this transaction, he directly holds 96,558 Common Units representing limited partner interests.
CrossAmerica Partners LP director Justin A. Gannon had previously granted phantom units vest on July 23, 2026 and convert, at the issuer's discretion, into 3,154 common units. Each phantom unit was economically equivalent to one common unit. His direct holding rose to 39,682 common units, with no phantom units remaining.
CrossAmerica Partners LP director Kenneth G. Valosky exercised vested phantom units on July 23, 2026, converting 3,154 phantom units, each economically equivalent to one common unit, into 3,154 common units. Following this conversion, he directly holds 26,958 common units representing limited partner interests.
CrossAmerica Partners LP director Mickey Kim exercised phantom units that vested on July 23, 2026. Phantom units economically equaled common units and were converted into 3,154 Common Units, eliminating the phantom unit balance. Following the conversion, Kim directly holds 33,998 Common Units representing limited partner interests.
CrossAmerica Partners LP director Thomas E. Kelso acquired Common Units representing limited partner interests through the vesting and conversion of phantom units. On July 23, 2026, phantom units that were economically equivalent to Common Units converted into 3,154 Common Units, after which Kelso directly owned 12,298 Common Units.
CrossAmerica Partners LP reports several governance and capital actions. The board of the general partner appointed Jonathan E. Benfield as Chief Financial Officer, effective July 20, 2026, after serving as Interim CFO and Chief Accounting Officer since March 2, 2026. His compensation is unchanged, and the company notes no family relationships or related-party transactions.
The board granted each of six non-employee directors phantom units under the 2022 Incentive Award Plan with a grant-date Fair Market Value of $66,875, plus distribution equivalent rights; these awards vest after one year of continued service and settle in units or cash at the board’s discretion. CrossAmerica also declared a quarterly cash distribution of $0.5250 per unit for second quarter 2026 (annualized $2.10), payable August 13, 2026 to unitholders of record on August 3, 2026, and scheduled an August 6 conference call to discuss second-quarter results.