Why did CAPL's Q4 earnings fall short of forecasts?

CrossAmerica Partners LP (CAPL) experienced a decline in retail fuel margin, which is a key factor in understanding its Q4 earnings falling short of forecasts. Despite positive retail performance, the retail fuel margin on a cents per gallon basis declined by 9% year-over-year, primarily due to challenging market conditions and competitive pressures. Furthermore, the wholesale segment's earnings were also impacted by a decrease in fuel margin per gallon, resulting from lower fuel margin on variably priced wholesale contracts and reduced fuel purchase terms discounts. These factors, combined with the strategic shifts and divestitures mentioned in the earnings call, likely contributed to the variances in earnings results. |code|Ticker|Name|Date|Total Revenue|Diluted EPS|market_code| |---|---|---|---|---|---|---| |CAPL|CAPL.N|CrossAmerica|2024 Q1|9.41548E8|-0.48|169| |CAPL|CAPL.N|CrossAmerica|2024 Q2|1.133355E9|0.31|169| |CAPL|CAPL.N|CrossAmerica|2024 Q3|1.079163E9|0.27|169| |CAPL|CAPL.N|CrossAmerica|2024 Q4|9.44222E8||169|