CrossAmerica Partners LP Q2 2025 Earnings Call Transcript
PorAinvest
jueves, 7 de agosto de 2025, 8:16 pm ET2 min de lectura
CAPL--
Financial Highlights
CrossAmerica reported a net income of $25.2 million for the second quarter of 2025, a 93.5% increase compared to the $12.4 million reported in the same period of 2024. Adjusted EBITDA increased to $37.1 million from $42.6 million, while distributable cash flow decreased to $22.4 million from $26.1 million. The distribution coverage ratio for the current quarter was 1.12 times, compared to 1.30 times in the second quarter of 2024.
Operational Performance
The retail segment's gross profit decreased by 1% to $76.1 million, driven by a 1% decrease in motor fuel gross profit. Same-store fuel volume decreased by 2%, while same-store merchandise sales excluding cigarettes increased by 4%. Operating expenses for the retail segment increased by 5%, primarily due to a 5% increase in the average site count.
The wholesale segment's gross profit decreased by 12% to $24.9 million, primarily due to a 9% decline in motor fuel gross profit. The average wholesale gross margin per gallon decreased by 2%. The segment's volume declined by 7%, with a substantial portion of the decline attributed to the conversion of wholesale locations to retail locations.
Divestment Activity
CrossAmerica sold 60 properties for $64.0 million in proceeds during the second quarter of 2025, resulting in a net gain of $29.7 million. The divestment activity focused on locations in the South Central and Mountain West regions, with additional targeted divestitures in the Northeast United States.
Liquidity and Capital Resources
As of June 30, 2025, CrossAmerica had $727.0 million outstanding under its CAPL Credit Facility, down from $778.0 million at the end of 2024. Leverage, as defined in the CAPL Credit Facility, was 3.65 times as of June 30, 2025, compared to 4.36 times as of December 31, 2024.
Distributions
The Board of Directors of CrossAmerica's General Partner declared a quarterly distribution of $0.5250 per limited partner unit for the second quarter of 2025. The distribution will be paid on August 14, 2025, to all unitholders of record as of August 4, 2025.
Forward-Looking Statements
The earnings call included forward-looking statements regarding revenue, future plans, and expectations. Actual results may differ from these expectations, as discussed in CrossAmerica's SEC filings.
References
[1] https://www.globenewswire.com/news-release/2025/08/06/3128715/0/en/CrossAmerica-Partners-LP-Reports-Second-Quarter-2025-Results.html
CrossAmerica Partners LP reported Q2 2025 earnings, with Charles Nifong, CEO, providing an overview of the company's operational performance. Maura Topper, CFO, discussed the financial results. The call was recorded on August 7, 2025, and included forward-looking statements regarding revenue, future plans, and expectations. Actual results may differ from expectations, as discussed in CrossAmerica's SEC filings.
CrossAmerica Partners LP (NYSE: CAPL) reported its second-quarter 2025 earnings, with Charles Nifong, President and CEO, providing an overview of the company's operational performance. Maura Topper, CFO, discussed the financial results during a conference call held on August 7, 2025. The earnings call included forward-looking statements regarding revenue, future plans, and expectations. Actual results may differ from expectations, as discussed in CrossAmerica's SEC filings.Financial Highlights
CrossAmerica reported a net income of $25.2 million for the second quarter of 2025, a 93.5% increase compared to the $12.4 million reported in the same period of 2024. Adjusted EBITDA increased to $37.1 million from $42.6 million, while distributable cash flow decreased to $22.4 million from $26.1 million. The distribution coverage ratio for the current quarter was 1.12 times, compared to 1.30 times in the second quarter of 2024.
Operational Performance
The retail segment's gross profit decreased by 1% to $76.1 million, driven by a 1% decrease in motor fuel gross profit. Same-store fuel volume decreased by 2%, while same-store merchandise sales excluding cigarettes increased by 4%. Operating expenses for the retail segment increased by 5%, primarily due to a 5% increase in the average site count.
The wholesale segment's gross profit decreased by 12% to $24.9 million, primarily due to a 9% decline in motor fuel gross profit. The average wholesale gross margin per gallon decreased by 2%. The segment's volume declined by 7%, with a substantial portion of the decline attributed to the conversion of wholesale locations to retail locations.
Divestment Activity
CrossAmerica sold 60 properties for $64.0 million in proceeds during the second quarter of 2025, resulting in a net gain of $29.7 million. The divestment activity focused on locations in the South Central and Mountain West regions, with additional targeted divestitures in the Northeast United States.
Liquidity and Capital Resources
As of June 30, 2025, CrossAmerica had $727.0 million outstanding under its CAPL Credit Facility, down from $778.0 million at the end of 2024. Leverage, as defined in the CAPL Credit Facility, was 3.65 times as of June 30, 2025, compared to 4.36 times as of December 31, 2024.
Distributions
The Board of Directors of CrossAmerica's General Partner declared a quarterly distribution of $0.5250 per limited partner unit for the second quarter of 2025. The distribution will be paid on August 14, 2025, to all unitholders of record as of August 4, 2025.
Forward-Looking Statements
The earnings call included forward-looking statements regarding revenue, future plans, and expectations. Actual results may differ from these expectations, as discussed in CrossAmerica's SEC filings.
References
[1] https://www.globenewswire.com/news-release/2025/08/06/3128715/0/en/CrossAmerica-Partners-LP-Reports-Second-Quarter-2025-Results.html
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