CrossAmerica Partners LP Earnings Call Transcripts
Fiscal Year 2026
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Q3 fuel-volume pressure lowered Adjusted EBITDA and cash flow, while merchandise margins and expense control helped cushion the decline. Through nine months, Adjusted EBITDA and Distributable Cash Flow remained well ahead YoY.
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Adjusted EBITDA rose 40% year-over-year to $51.8 million, driven by strong fuel margins and merchandise performance, while net income declined due to lower real estate gains. Operating expenses fell for the seventh consecutive quarter, and leverage and coverage ratios improved.
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Record Q1 results with adjusted EBITDA up 45% and net income of $10.7M, driven by strong retail fuel margins and merchandise sales. Asset sales and disciplined expense management reduced leverage and improved cash flow.
Fiscal Year 2025
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Strong Q4 and full year 2025 results featured robust fuel margins, record asset sales, and improved financial flexibility. Retail and wholesale segments delivered solid performance, with disciplined expense management and a strengthened balance sheet heading into 2026.
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Net income rose to $13.6M on strong asset sales and lower interest expense, despite a 6% drop in adjusted EBITDA. Retail and wholesale gross profits declined due to lower fuel margins and volumes, but inside sales and expense reductions provided partial offsets.
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Net income more than doubled year-over-year due to significant asset sales, despite lower adjusted EBITDA and distributable cash flow. Retail and wholesale segments outperformed national demand trends, and debt was reduced by over $50 million, improving leverage and interest expense.
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First quarter 2025 saw improved gross profits and margins despite subdued demand, adverse weather, and increased uncertainty from tariffs and volatile crude prices. Net loss narrowed year-over-year, and site conversions boosted retail performance, but distributable cash flow and coverage ratios declined.
Fiscal Year 2024
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Retail segment outperformed national trends in Q4 2024, with higher gross profit and site count, while Wholesale declined due to site conversions. Full-year results reflected lower net income and EBITDA amid inflation and higher interest costs, but strategic divestitures and conversions strengthened long-term positioning.
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Retail segment delivered strong profit growth and outperformed national trends despite soft demand, while wholesale results declined due to site conversions. Net income and distributable cash flow fell year-over-year, but leverage improved and property divestitures generated capital.
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Retail segment led performance with higher operating income and gross profit, despite soft industry demand. Net income and distributable cash flow declined year-over-year due to higher interest expense, while strategic site conversions and property divestitures supported growth and deleveraging.