Welcome to our dedicated page for CrossAmerica Partners LP Common units representing partner interests news (Ticker: CAPL), a resource for investors and traders seeking the latest updates and insights on CrossAmerica Partners LP Common units representing partner interests stock.
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.
CrossAmerica Partners LP has announced a quarterly distribution of $0.5250 per unit for the first quarter of 2023, amounting to an annualized distribution of $2.10 per unit. This distribution will be paid on May 10, 2023, to unitholders of record as of May 3, 2023. The company, which is a significant distributor of motor fuels and convenience store operator in 34 states, ranks among ExxonMobil's largest distributors in the U.S. by fuel volume. A conference call will be held on May 9 at 9:00 a.m. ET to discuss the first quarter earnings, with results released after market close on May 8.
CrossAmerica Partners LP (NYSE: CAPL) will announce its first quarter 2023 earnings on May 8, 2023, after market close. A conference call for investors will follow on May 9, 2023, at 9:00 a.m. Eastern Time. Interested parties can participate via a live webcast or telephone registration accessible on the company’s investor website. The earnings release will include detailed financial metrics, including reconciliations for any non-GAAP measures. CrossAmerica operates a wide distribution network, servicing approximately 1,750 locations across 34 states, and ranks among the top distributors for major oil brands like ExxonMobil and BP. The company emphasizes growth through its extensive partnerships and retail presence in the fuel distribution sector.
CrossAmerica Partners LP has announced an amended and restated $925 million credit facility, up from the previous $750 million, aimed at enhancing financial flexibility. This five-year revolving credit agreement, maturing on March 31, 2028, allows for potential increases of up to $350 million. The funds will be used to repay a $200 million credit facility from 2021 related to acquisitions. CEO Charles Nifong stated the new facility consolidates borrowings and extends maturity. The interest rates will depend on the Partnership’s leverage ratio, with specific margins set until the compliance certificate is delivered on June 30, 2023.
CrossAmerica Partners LP (NYSE: CAPL) filed its Annual Report on Form 10-K for the fiscal year ending December 31, 2022, with the SEC on February 28, 2023. This report includes the Partnership's audited financial statements and can be accessed via the Partnership's or SEC's websites. Unitholders can request printed copies for detailed insights into financial performance. CrossAmerica Partners operates as a wholesale distributor of motor fuels and convenience store operator, covering 34 states and serving approximately 1,750 locations. Notably, it ranks among ExxonMobil's largest distributors by fuel volume in the U.S.
CrossAmerica Partners LP (CAPL) reported strong financial results for Q4 and full year 2022. Q4 net income was $17.1 million, with adjusted EBITDA of $44.3 million and distributable cash flow of $33.3 million. Full year net income reached $63.7 million, with total adjusted EBITDA at $179.8 million. Gross profit improved in both the wholesale and retail segments, with Q4 wholesale gross profit at $32.8 million and retail gross profit at $60.4 million. The distribution coverage ratio increased to 1.67x in Q4 compared to 1.56x in Q4 2021. Additionally, leverage decreased to 3.7 times. A new board member was appointed as part of strategic initiatives to enhance operational performance.
CrossAmerica Partners LP (NYSE: CAPL) will disclose its fourth quarter and full-year 2022 earnings results on February 27, 2023, after market close. A conference call will follow on February 28 at 9:00 a.m. ET, allowing investors and interested parties to engage via telephone or live webcast. They can also access related earnings materials on the CrossAmerica Partners website. Established in 2012, the company is a leading distributor of motor fuels across 34 states, servicing approximately 1,750 locations.
CrossAmerica Partners LP has announced a quarterly distribution of $0.5250 per unit for the fourth quarter of 2022, resulting in an annualized distribution of $2.10 per unit. This distribution is payable on February 10, 2023, to unitholders of record on February 3, 2023. The company is scheduled to host a conference call on February 28 at 9:00 a.m. ET to discuss its fourth quarter and full-year earnings results, which are set for release after market close on February 27.
CrossAmerica Partners LP (NYSE: CAPL) has successfully completed the acquisition of specific assets from Community Service Stations for $27.5 million plus working capital. This deal encompasses wholesale fuel supply contracts covering approximately 75 million gallons of fuel annually across 38 dealer-owned locations and 35 subjobber accounts in the Greater Boston area. The acquisition is financed through cash reserves and undrawn credit capacity, and is anticipated to enhance distributable cash flow for limited partners.
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