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 has declared a quarterly distribution of $0.5250 per unit for the second quarter of 2022, which is annualized at $2.10 per unit. This distribution will be paid on August 10, 2022, to unitholders of record as of August 3, 2022. A conference call is scheduled for August 9 at 9:00 a.m. ET to discuss earnings results expected to be released on August 8. CrossAmerica is a major fuel distributor and convenience store operator in the U.S., with operations in 34 states and relationships with top oil brands.
CrossAmerica Partners LP (NYSE: CAPL) is set to announce its second quarter 2022 earnings on August 8, 2022, after market close. A conference call for investors will follow on August 9 at 9:00 a.m. Eastern Time, where management will discuss the results and provide insights. Interested parties can access the live broadcast via the CrossAmerica website, along with related materials. The company operates as a leading distributor of motor fuels across 34 states.
CrossAmerica Partners LP (NYSE: CAPL) will present at the Energy Infrastructure Council (EIC) Investor Conference on May 16, 2022, at 4:20 p.m. ET. The presentation will be led by President and CEO Charles Nifong and CFO Maura Topper and will be streamed live on the company's investor website. CrossAmerica Partners is a prominent wholesale distributor of motor fuels with operations in 34 states, servicing approximately 1,750 locations. It ranks among the largest distributors for major oil brands such as ExxonMobil and BP.
CrossAmerica Partners LP (CAPL) reported its strongest first quarter in history for 2022, with operating income of $9.7 million and net income of $5.0 million, a significant improvement from an operating loss of $0.9 million and net loss of $4.0 million in Q1 2021. Adjusted EBITDA rose to $32.0 million from $20.7 million, and distributable cash flow increased to $24.2 million from $15.8 million year-over-year. The wholesale segment's gross profit increased by 35% to $46.9 million, driven by a 10% rise in distributed gallons and a 40% increase in margin per gallon. Retail gross profit also surged 66%, attributed to heightened fuel sales and margins.
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.
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