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.
Overview of CrossAmerica Partners LP
CrossAmerica Partners LP (NYSE: CAPL) is a prominent player in the U.S. fuel distribution and convenience retail industry, specializing in the wholesale distribution of motor fuels and the ownership and leasing of real estate used for retail fuel distribution. Established in 2012, the company has cultivated a robust presence across 29 to 34 states, distributing branded and unbranded petroleum products to approximately 1,200 to 1,600 locations and managing a portfolio of around 900 to 1,100 real estate sites. CrossAmerica's operations are underpinned by strong partnerships with leading oil brands such as ExxonMobil, BP, Shell, Chevron, Marathon, Valero, and Phillips 66, positioning it as one of ExxonMobil’s largest distributors by fuel volume in the United States.
Business Segments
Wholesale Segment
The Wholesale segment serves as the cornerstone of CrossAmerica’s business model, focusing on the distribution of motor fuels to lessee dealers, independent dealers, commission agents, and its own retail sites. This segment also generates revenue through leasing real estate to dealers and commission agents, creating a diversified income stream. By maintaining long-term relationships with major oil brands, CAPL ensures a steady supply of high-quality fuel products to its customers.
Retail Segment
The Retail segment complements the Wholesale operations by managing company-operated retail sites. This includes the sale of motor fuels directly to consumers and the operation of convenience stores offering a range of merchandise. The retail segment has grown significantly through strategic site conversions, transitioning lessee dealer and commission agent locations into company-operated sites. This vertical integration allows CAPL to capture additional value across the supply chain.
Market Position and Competitive Landscape
CrossAmerica Partners holds a unique position in the fuel distribution market, leveraging its dual focus on wholesale and retail operations. Its extensive geographic footprint and established relationships with major oil brands provide a competitive edge. However, the company operates in a highly competitive and price-sensitive industry, facing challenges from other fuel distributors and vertically integrated convenience store chains. CAPL differentiates itself through its hybrid business model, which combines fuel distribution with real estate management, offering both operational and financial flexibility.
Strategic Initiatives and Challenges
CAPL has undertaken several strategic initiatives to optimize its operations, including the conversion of lessee dealer and commission agent sites to company-operated locations. These conversions aim to enhance profitability but also involve increased operating expenses and capital investments. Additionally, the company engages in real estate rationalization efforts to streamline its portfolio and maximize asset utilization. Market volatility, particularly fluctuations in crude oil prices, poses a challenge to both the wholesale and retail segments, impacting fuel margins and profitability.
Key Differentiators
- Extensive Geographic Reach: Operations spanning 29-34 states ensure a broad market presence.
- Strong Brand Partnerships: Long-standing relationships with major oil brands like ExxonMobil and Shell.
- Hybrid Business Model: Integration of fuel distribution with real estate management for diversified revenue streams.
- Focus on Vertical Integration: Strategic site conversions to company-operated locations for enhanced control and profitability.
Conclusion
CrossAmerica Partners LP exemplifies a well-rounded business model that combines fuel distribution expertise with strategic real estate management. Its dual focus on Wholesale and Retail segments enables it to adapt to market dynamics while maintaining strong relationships with major oil brands. As a key player in the U.S. motor fuel supply chain, CAPL continues to navigate industry challenges and leverage opportunities for growth and operational efficiency.
CrossAmerica Partners LP (NYSE: CAPL) has announced the filing of its Annual Report on Form 10-K for the fiscal year ended December 31, 2024, with the Securities and Exchange Commission (SEC) on February 27, 2025. The annual report, which includes the Partnership's audited financial statements, is accessible through the company's website at www.crossamericapartners.com and the SEC's website at www.sec.gov.
Unitholders can request printed copies of the report through the company's online information request system or by contacting investor relations at 610-625-8000.
CrossAmerica Partners LP (NYSE: CAPL) reported Q4 2024 financial results with net income of $16.9 million, down from $16.7 million in Q4 2023. Full-year 2024 net income decreased to $22.5 million from $42.6 million in 2023.
The retail segment showed growth with Q4 gross profit up 9% year-over-year, driven by a 22% higher average site count. Same-store fuel volume increased 2%, and merchandise sales excluding cigarettes grew 2%. However, wholesale segment gross profit declined 22% in Q4 2024.
Key metrics for 2024 included:
- Adjusted EBITDA: $145.5M (vs $165.8M in 2023)
- Distributable Cash Flow: $86.0M (vs $116.7M in 2023)
- Distribution Coverage Ratio: 1.08x (vs 1.46x in 2023)
- Leverage ratio: 4.36x (vs 4.21x in 2023)
The company divested 30 properties in 2024 for $36.3 million, resulting in a net gain of $23.3 million, as part of its ongoing optimization efforts.
CrossAmerica Partners LP (NYSE: CAPL) has announced the maintenance of its quarterly distribution at $0.5250 per unit for the fourth quarter of 2024, equivalent to an annualized distribution of $2.10 per unit. The distribution will be paid on February 13, 2025, to unitholders of record as of February 3, 2025.
The company has scheduled a conference call for February 27th at 9:00 a.m. Eastern Time to discuss their fourth quarter and full year 2024 earnings results, which will be released after market close on February 26.
CrossAmerica Partners LP (NYSE: CAPL) has scheduled its fourth quarter and full year 2024 earnings release for Wednesday, February 26, 2025, after market close. The company will host a conference call on Thursday, February 27, at 9:00 a.m. Eastern Time to discuss the results.
Investors can access the conference call via phone at 800-717-1738 or 646-307-1865 using passcode 43042. A live audio webcast and related earnings materials, including GAAP to non-GAAP reconciliations, will be available on the investor section of CrossAmerica's website. The webcast archive will be accessible for 60 days following the call.
CrossAmerica Partners LP (NYSE: CAPL) reported Q3 2024 financial results with net income of $10.7 million, down from $12.3 million in Q3 2023. Adjusted EBITDA was $43.9 million, slightly down from $44.2 million year-over-year. The retail segment showed strong performance with gross profit increasing 24% to $83.6 million, while wholesale segment gross profit declined 16% to $27.6 million. The company maintained a distribution coverage ratio of 1.26x and reduced leverage to 4.21x. The Board declared a quarterly distribution of $0.5250 per unit.
CrossAmerica Partners LP (NYSE: CAPL) has announced the maintenance of its quarterly distribution at $0.5250 per unit for the third quarter of 2024, equivalent to an annualized distribution of $2.10 per unit. The distribution will be paid on November 13, 2024, to unitholders of record as of November 4, 2024. The company will discuss its Q3 2024 earnings results in a conference call scheduled for November 7th at 9:00 a.m. Eastern Time, following the earnings release after market close on November 6.
CrossAmerica Partners LP (NYSE: CAPL) has announced it will release its third quarter 2024 earnings results after market close on Wednesday, November 6, 2024. The company will host a conference call on Thursday, November 7, at 9:00 a.m. Eastern Time to discuss the results. Investors can join the call using the numbers 800-717-1738 or 646-307-1865 with passcode 264936.
A live audio webcast of the conference call and related earnings materials, including reconciliations of non-GAAP to GAAP financial measures, will be available on the investor section of CrossAmerica's website. The webcast archive will be accessible for sixty days after the call.
CrossAmerica Partners LP (NYSE: CAPL) has rescheduled its second quarter 2024 earnings call and webcast due to technical difficulties. The new date is set for Friday, August 9, at 9:00 a.m. Eastern Time. Investors can join the conference call using the numbers 800-717-1738 or 646-307-1865 with the passcode 29269. A live audio webcast will be available on the investor section of the CrossAmerica website, along with related earnings materials including reconciliations of non-GAAP to GAAP financial measures. The webcast archive will be accessible for 60 days after the call.
CrossAmerica Partners LP (NYSE: CAPL) reported Q2 2024 financial results. Net income was $12.4M, down from $14.5M in Q2 2023. Adjusted EBITDA increased slightly to $42.6M from $42.2M. Distributable cash flow dropped to $26.1M from $30.4M. Retail segment gross profit rose 16% to $76.6M due to a 10% increase in motor fuel and a 23% rise in merchandise gross profit. However, same-store motor fuel sales declined by 2%. Wholesale segment gross profit fell 11% to $28.1M, driven by a 12% decline in motor fuel volume. The distribution coverage ratio for the trailing 12 months ended June 30, 2024, was 1.32x, down from 1.68x in 2023. The Board declared a quarterly distribution of $0.5250 per partner unit. Leverage ratio improved to 4.39 times compared to 4.49 times in March 2024.
CrossAmerica Partners LP (NYSE: CAPL) has announced the maintenance of its quarterly distribution at $0.5250 per unit for the second quarter of 2024. This distribution, annualized at $2.10 per unit, will be payable on August 9, 2024 to unitholders of record as of August 2, 2024. The decision was approved by the Board of Directors of the company's general partner.
Additionally, CrossAmerica Partners LP has scheduled a conference call for August 8th at 9:00 a.m. Eastern Time to discuss their second quarter 2024 earnings results. These results will be released after the market closes on Wednesday, August 7.
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