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 announced a quarterly distribution of $0.5250 per unit for the first quarter of 2022, annualizing to $2.10 per unit. This distribution is payable on May 11, 2022 to unitholders of record on May 3, 2022. The company will discuss its Q1 earnings results on a conference call scheduled for May 10, 2022. CrossAmerica is a leading distributor of motor fuels, operating in 34 states and serving approximately 1,750 locations.
CrossAmerica Partners LP (NYSE: CAPL) will announce its first quarter 2022 earnings results on May 9, 2022, following the market close. Management will discuss the results in a conference call on May 10 at 9:00 a.m. Eastern Time, accessible via phone or a live audio webcast. CrossAmerica is a prominent distributor of motor fuels and operates over 1,750 locations across 34 states, partnering with major oil brands. The webcast and earnings materials will be available on their investor website.
CrossAmerica Partners LP (NYSE: CAPL) announced a $25 million issuance of Cumulative Preferred Membership Interests in its subsidiary, CAPL JKM Holdings LLC. The preferred interests were sold to affiliates of Chairman Joseph V. Topper, Jr. and Vice Chairman John B. Reilly, III, offering a 9.0% cumulative preferred return. Proceeds will be used to prepay a portion of the Term Loan Credit Facility, supporting the company’s recent $263 million acquisition from 7-Eleven. The transaction, approved by the board's Conflicts Committee, highlights strong leadership commitment to investor interests.
CrossAmerica Partners LP (NYSE: CAPL) filed its Annual Report on Form 10-K for the fiscal year ending December 31, 2021, on March 1, 2022. This report includes the Partnership's audited financial statements and can be accessed on the Partnership's website or the SEC's site. CrossAmerica Partners is a prominent wholesale fuel distributor, operating approximately 1,750 locations across 34 states and ranking among ExxonMobil's largest distributors by fuel volume in the U.S.
CrossAmerica Partners LP reported strong fourth-quarter and full-year 2021 results, achieving an operating income of $16.2 million and a net income of $12.0 million, up from $8.1 million and $9.0 million, respectively, in Q4 2020. Fourth-quarter Adjusted EBITDA reached a record $37.0 million, a 51% increase year-over-year. Significant growth was noted in gross profit across both wholesale (34% increase) and retail (64% increase) segments. The partnership declared a quarterly distribution of $0.5250 per unit for Q4 2021, marking a distribution coverage ratio of 1.56 times.
CrossAmerica Partners LP has announced a quarterly distribution of $0.5250 per unit for the fourth quarter of 2021.
This equates to an annualized rate of $2.10 per unit and will be payable on February 10, 2022, to unitholders of record as of February 3, 2022.
A conference call is scheduled for March 1, 2022, at 9:00 a.m. ET to discuss the fourth quarter and year-end earnings results, which will be released on February 28, 2022.
CrossAmerica Partners (NYSE: CAPL) will release its fourth quarter/year-end 2021 earnings results on February 28, 2022, post market closure. A live conference call is scheduled for March 1 at 9:00 a.m. ET. Investors can access the call via phone at 800-774-6070 or 630-691-2753 using passcode 8674133#. A webcast of the call and related earnings materials will also be available on CrossAmerica's website. The company operates as a wholesale distributor of motor fuels, serving approximately 1,800 locations across 34 states.
CrossAmerica Partners LP (CAPL) announced its third quarter 2021 financial results, reporting an operating income of $12.6 million and a net income of $8.9 million. This marks a decrease from $23.7 million and $21.2 million in Q3 2020, respectively. However, Adjusted EBITDA increased by 20% to $35.9 million, and Distributable Cash Flow rose to $30.4 million, demonstrating growth in operational performance despite challenges. The company distributed approximately 354.6 million gallons of fuel, showing an 8% increase in volume. Additionally, CrossAmerica closed on 98 properties from 7-Eleven, enhancing its retail footprint.
CrossAmerica Partners LP announced a quarterly distribution of $0.5250 per unit for Q3 2021, maintaining an annualized rate of $2.10 per unit. This distribution is payable on November 10, 2021, to unitholders of record as of November 3, 2021. The partnership, a key player in fuel distribution with operations in 34 states and relationships with major oil brands, will host a call on November 9 to discuss Q2 earnings results, which will be released on November 8.
CrossAmerica Partners LP (NYSE: CAPL) announced it will report its third quarter 2021 earnings on November 8, 2021, after market close. A conference call will follow on November 9 at 9:00 a.m. ET, providing insights into the financial performance and metrics of the company. The call can be accessed via toll-free numbers or a live audio webcast available on the CrossAmerica website. The company is a significant player in the wholesale distribution of motor fuels in the U.S.
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