CrossAmerica Partners LP Common units representing limited partner interests - CAPL STOCK NEWS

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CrossAmerica Partners LP (NYSE: CAPL) is a leading wholesale distributor of motor fuels and an owner and lessor of real estate used in the retail distribution of motor fuels. Formed in 2012, the company operates through two primary segments: Wholesale and Retail.

In the Wholesale segment, CrossAmerica distributes branded and unbranded petroleum to approximately 1,700 locations across 34 states in the United States. It maintains strong relationships with several major oil brands, including ExxonMobil, BP, Shell, Sunoco, Valero, Gulf, Citgo, Marathon, and Phillips 66. The company is recognized as one of ExxonMobil's largest distributors by fuel volume in the United States.

The Retail segment involves operating convenience stores and selling motor fuel directly at retail sites. CrossAmerica's retail operations also include selling convenience merchandise items at company-operated sites and those managed by commission agents.

In recent achievements, CrossAmerica has continued to expand its operations, including the acquisition of assets from Applegreen Midwest, LLC and Applegreen Florida, LLC at 59 locations. This expansion has strengthened its footprint and operational scale. Financially, the company has experienced fluctuations, reporting declines in net income and Adjusted EBITDA for the third quarter of 2023 compared to the previous year, primarily due to lower motor fuel margins and increased interest expenses.

Despite these challenges, CrossAmerica has demonstrated resilience through strategic initiatives such as brand consolidation and better sourcing costs. The company also reported an increase in merchandise gross profit and improved performance in fuel gross profit in both the wholesale and retail segments for the fourth quarter of 2023.

For more detailed financial information and updates, CrossAmerica Partners regularly releases quarterly and annual financial results, with conference calls hosted by management. Investors and interested parties can access these resources via the company's investor relations section on their website.

For additional information, please visit www.crossamericapartners.com.