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 (CAPL) reported its second quarter 2021 results, showing operating income of $8.2 million and net income of $4.8 million, compared to $6.3 million and $5.2 million in Q2 2020. Adjusted EBITDA increased by 7% to $29.7 million. Gross profit for the wholesale segment was $44.2 million, marking a 9% rise, while retail gross profit also increased by 32% to $21.1 million. The company began its $263 million acquisition of 106 convenience stores from 7-Eleven. The Board appointed Maura Topper as the new CFO, effective August 11, 2021.
CrossAmerica Partners LP announced a quarterly distribution of $0.5250 per unit for the second quarter of 2021, which is annualized to $2.10 per unit. This distribution is payable on August 10, 2021 to unitholders of record as of August 3, 2021. A conference call is scheduled for August 10 at 9:00 a.m. ET to discuss the earnings results, which will be released after the market closes on August 9.
CrossAmerica Partners LP (NYSE: CAPL) will release its second quarter 2021 earnings results after the market closes on August 9, 2021. A conference call will follow on August 10, 2021 at 9:00 a.m. ET. Interested parties can join the call by dialing 800-774-6070 or 630-691-2753 (passcode: 8674133#). A live audio webcast will also be available on the company’s investor website, along with materials including reconciliations of non-GAAP to GAAP measures. CrossAmerica is a significant fuel distributor in the U.S., operating across 34 states.
On May 17, 2021, CrossAmerica Partners (NYSE: CAPL) announced that its President and CEO, Charles Nifong, will participate in a fireside chat at the Energy Infrastructure Council (EIC) Investor Conference in Las Vegas on May 19, 2021, at 5:45 p.m. ET. The session will be available live via audio webcast on their investor website.
CrossAmerica Partners is a prominent distributor of motor fuels and operates convenience stores across 34 states, serving around 1,700 locations. It has strong ties with major oil brands like ExxonMobil and BP.
CrossAmerica Partners LP (NYSE: CAPL) reported a first-quarter 2021 operating loss of $0.9 million and a net loss of $4.0 million, a stark contrast to the $77.4 million operating income and $72.1 million net income achieved in Q1 2020, which included a $70.9 million gain from asset sales. Adjusted EBITDA declined to $20.7 million, down 18% year-over-year. The company distributed 291.8 million gallons of fuel, reflecting a 32% volume increase but a 19% decrease in gross margin per gallon. CrossAmerica announced plans to acquire 106 convenience store locations for $263 million, expected to enhance future cash flow.
CrossAmerica Partners LP (CAPL) announced a definitive agreement to acquire 106 convenience store locations from 7-Eleven, Inc. for $263 million. This acquisition aims to enhance CrossAmerica's retail operations and increase scale within its existing asset base. The sites, primarily operating under the Speedway brand, recorded 160 million gallons of fuel sales and $134 million in merchandise sales over the past year. The transaction is expected to be immediately accretive to distributable cash flow and will be financed through existing credit facilities and cash. Closing is contingent on regulatory approvals.
CrossAmerica Partners LP announced a quarterly distribution of $0.5250 per unit for the first quarter of 2021, representing an annualized amount of $2.10 per unit. The distribution will be payable on May 11, 2021, to unitholders of record on May 4, 2021. Additionally, a conference call is scheduled for May 11 at 9:00 a.m. ET to discuss first quarter earnings, which will be released on May 10. CrossAmerica Partners, a major distributor of motor fuels, operates in 34 states and has partnerships with several leading oil brands.
CrossAmerica Partners LP announced it will release its first quarter 2021 earnings results on May 10, 2021, after market close. Following this, management will host a conference call on May 11 at 9:00 a.m. ET, accessible via phone or live audio webcast. Investors can find earnings materials and a recording of the call on the company’s investor website. CrossAmerica Partners is a significant player in the wholesale motor fuel distribution sector, with operations in 34 states and relationships with several major oil brands.
CrossAmerica Partners LP (NYSE: CAPL) has filed its Annual Report on Form 10-K for the fiscal year ending December 31, 2020, with the SEC. This document, which includes audited financial statements, is accessible on the Partnership's website and the SEC's site. CrossAmerica Partners is a prominent wholesale distributor of motor fuels and operates convenience stores across the U.S., with a footprint in 34 states and relationships with major oil brands such as ExxonMobil and BP. Unitholders can request a printed copy of the report through the company's investor relations.
CrossAmerica Partners LP (NYSE: CAPL) reported its fourth quarter and full-year 2020 financial results, showing a net income of $9.0 million compared to $4.3 million in Q4 2019, and a full-year net income increase to $107.5 million from $18.1 million in 2019. Fourth quarter operating income was $8.1 million, down from $9.4 million in the previous year. The Wholesale segment gross profit rose 13% to $36.8 million, while the Retail segment achieved a gross profit of $5.5 million. The Distribution Coverage Ratio improved to 1.32 times from 1.04 times year-over-year.
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