CrossAmerica Partners LP filings document material-event disclosures for a publicly traded limited partnership in motor fuel distribution, convenience retailing, and fuel-site real estate. Recent Form 8-K reports furnish operating results, earnings presentation materials, and Regulation FD disclosures tied to Wholesale and Retail segment performance, adjusted EBITDA, distributable cash flow, leverage, and distribution coverage.
The filing record also includes 8-K disclosures on quarterly cash distributions approved by CrossAmerica GP LLC and officer or director changes at the general partner and subsidiary level. These documents frame CAPL's common-unit distributions, general-partner governance, executive compensation arrangements, and public-company reporting obligations.
CrossAmerica Partners reported sharply stronger first‑quarter 2026 results, posting net income of $10.7M versus a $7.1M loss a year earlier. Operating income rose to $23.8M on higher retail fuel and merchandise margins and lower expenses, even though revenue slipped 2% to $841.8M.
Impairment charges fell to $1.5M, helping cut depreciation and amortization by 35%. Interest expense declined as site sale proceeds reduced Credit Facility borrowings. Adjusted EBITDA increased to $35.1M, and Distributable Cash Flow of $21.5M covered common distributions of $20.0M at a 1.07x ratio.
CrossAmerica Partners LP reported a sharp turnaround for the quarter ended March 31, 2026, posting net income of $10.7 million versus a net loss a year ago. Adjusted EBITDA rose to $35.1 million and distributable cash flow to $21.5 million, significantly improving distribution coverage to 1.07x for the quarter and 1.25x over the last twelve months. Retail segment gross profit increased to $74.3 million on stronger fuel margins and merchandise performance, while wholesale gross profit declined to $23.3 million on lower rent and fuel margins. Leverage under the credit facility improved to 3.35x, and the Board declared a quarterly distribution of $0.5250 per common unit. The Partnership also appointed Maura Topper as CEO and President and Jon Benfield as Interim CFO effective March 2, 2026.
CrossAmerica Partners LP declared a quarterly cash distribution of $0.5250 per unit for the first quarter of 2026, equal to an annualized $2.10 per unit and unchanged from the fourth quarter of 2025. The distribution will be paid on May 14, 2026 to unitholders of record on May 4, 2026.
The partnership will release its first quarter 2026 earnings after the market closes on May 6 and will host a conference call on May 7 at 9:00 a.m. Eastern Time. The release also notes that 100% of distributions to non-U.S. investors are treated as effectively connected income and subject to U.S. federal withholding at the highest applicable effective tax rate.
CrossAmerica Partners LP filed an initial insider ownership report for interim CFO and CAO Jonathan E. Benfield. The filing shows he directly holds 5,029 Common Units of the partnership as of the reported date, with no buy or sell transactions disclosed in this statement.
CrossAmerica Partners LP announced an executive leadership transition at its general partner, CrossAmerica GP LLC. Maura Topper, previously Chief Financial Officer, has been appointed President and Chief Executive Officer effective March 2, 2026, succeeding Charles M. Nifong, Jr., who had led the Partnership since 2019.
Mr. Nifong is leaving his roles as President, CEO, and board member of the general partner to join the executive management team of affiliate Dunne Manning Holdings LLC. In connection with her promotion, Ms. Topper’s annual base salary was set at $500,000, with a target short-term incentive equal to 50% of base salary.
The Board also named Jonathan E. Benfield, Chief Accounting Officer, as Interim Chief Financial Officer and Chief Accounting Officer, effective March 2, 2026. For the period he serves in these roles, his annual base salary was increased to $325,000, and his target short-term incentive was set at 50% of base salary.
CrossAmerica Partners describes a large fuel distribution and retail network focused on steady cash flows to support quarterly distributions. The partnership operates through retail and wholesale segments, distributing motor fuel to about 1,600 sites in 34 states and owning or leasing roughly 1,000 locations.
In 2025, wholesale segment revenues were $1,568 million and retail segment revenues were $2,095 million. Company operated stores generated food and merchandise sales of $407 million, and rental income from leased sites was $62.5 million. As of February 20, 2026, there were 38,135,078 common units outstanding and the Topper Group beneficially owned 38.5%.
The filing emphasizes acquisition-driven growth, long-term supply contracts with major oil brands, and exposure to risks such as fuel price volatility, competition, regulation, environmental obligations, labor availability, and changing consumer behavior. Management highlights its strategy of optimizing each site format to enhance long-term profitability and sustain distributions.
CrossAmerica Partners LP reported stronger full-year 2025 results with net income of $41.8 million, up from $22.5 million in 2024. Adjusted EBITDA held essentially flat at $146.0 million versus $145.5 million, while Distributable Cash Flow edged up to $87.8 million from $86.0 million.
Retail segment performance was a key driver, with 2025 retail gross profit rising to $302.2 million from $289.7 million on higher fuel and merchandise margins, despite modest volume declines. Wholesale gross profit declined to $100.5 million from $108.6 million as site conversions and asset sales reduced rent income and volumes.
The partnership executed a sizable real estate optimization program, selling 107 properties in 2025 for $103.3 million in proceeds and recording net gains of $45.9 million. Leverage, as defined in the credit facility, improved to 3.51x at December 31, 2025 from 4.36x a year earlier, and the full-year distribution coverage ratio increased to 1.10x. The quarterly cash distribution remained $0.5250 per common unit.
CrossAmerica Partners LP director and President/CEO Charles M. Nifong Jr. reported equity compensation activity in common units. He acquired 6,255 fully vested common units through the 2025 Performance-Based Bonus Compensation Policy and 6,392 fully vested common units through a 2022 Performance Unit Award, both at no cash cost to him.
To satisfy tax withholding obligations, 2,004 and 1,839 common units were withheld and disposed of at a price of $20.78 per unit, characterized as payment of tax liability by delivering securities rather than open-market sales. Following these transactions, his direct ownership stood at 90,710 common units.
CrossAmerica Partners LP executive vice president David Hrinak reported compensation-related unit movements. He acquired 1,832 fully vested common units through the 2025 Performance-Based Bonus Compensation Policy, and 624 common units were withheld to cover his tax obligations at a price of $20.78 per unit.
CrossAmerica Partners LP director and executive Keenan D. Lynch reported equity compensation and related tax withholdings in common units. On February 24, Lynch acquired 1,944 fully vested units under the 2025 performance-based bonus policy and 1,722 fully vested units from a 2022 performance unit award, both at no cash cost. In two separate transactions that same day, a total of 1,250 units were disposed of at $20.78 per unit to cover tax withholding obligations, leaving Lynch with 24,108 common units held directly after the reported transactions.