Crossamerica Partners (NYSE:CAPL) Q3 2025 Earnings Call November 06, 2025 09:00 AM ET Speaker1Good morning, ladies and gentlemen, and welcome to the CrossAmerica Partners third quarter 2025 earnings call. At this time, all lines are in a listen-only mode. Following the presentation, we will conduct a question-and-answer session. If at any time during this call you require immediate assistance, please press star zero for the operator. This call is being recorded on Thursday, November 6th, 2025. I would now l ...

November 2025 Third Quarter 2025 Earnings Call Third Quarter 2025 Earnings Call November 2025 Forward Looking Statement Statements contained in this presentation that state the Partnership's or management's expectations or predictions of the future are forward-looking statements. The words "believe," "expect," "should," "intends," "anticipates", "estimates," "target" and other similar expressions identify forward-looking statements. It is important to note that actual results could differ materially from th ...

Exhibit 99.1 | Key Operating Metrics | Q3 2025 | Q3 2024 | | --- | --- | --- | | Net Income | $13.6M | $10.7M | | Adjusted EBITDA | $41.3M | $43.9M | | Distributable Cash Flow | $27.8M | $27.1M | | Distribution Coverage Ratio: Current Quarter | 1.39x | 1.36x | | Distribution Coverage Ratio: Trailing 12 Months | 1.00x | 1.26x | CrossAmerica Partners LP Reports Third Quarter 2025 Results Allentown, PA November 5, 2025 – CrossAmerica Partners LP (NYSE: CAPL) ("CrossAmerica" or the "Partnership"), a leading who ...

Financial Performance - Operating revenues for Q3 2025 were $971.8 million, a decrease of 10% from $1,079.2 million in Q3 2024[13] - Gross profit for Q3 2025 was $104.8 million, down from $111.2 million in Q3 2024, reflecting a gross margin of approximately 10.8%[13] - Net income for Q3 2025 increased to $13.6 million, compared to $10.7 million in Q3 2024, representing a year-over-year growth of 27.5%[13] - Earnings per common unit for Q3 2025 were $0.34, up from $0.27 in Q3 2024, indicating a 25.9% increase[13] - Total revenues for the three months ended September 30, 2025, were $971,847 thousand, a decrease from $1,079,163 thousand in the same period of 2024[85] - Gross profit for the three months ended September 30, 2025, was $104,770 thousand, compared to $111,226 thousand for the same period in 2024, reflecting a decline of approximately 5.1%[86] - Operating income for the three months ended September 30, 2025, was $28,087 thousand, slightly up from $27,096 thousand in 2024, indicating a year-over-year increase of 3.7%[89] - The company reported a net income before income taxes of $16,453 thousand for the three months ended September 30, 2025, compared to $13,124 thousand in 2024, marking an increase of 25.5%[89] Assets and Liabilities - Total assets as of September 30, 2025, were $998.9 million, a decrease from $1,114.7 million at the end of 2024[11] - Total liabilities decreased to $1,060.9 million as of September 30, 2025, down from $1,139.5 million at the end of 2024[11] - Property and equipment, net, decreased to $568,888,000 as of September 30, 2025, from $656,300,000 as of December 31, 2024, indicating a reduction of about 13.3%[35] - Long-term debt and finance lease obligations totaled $710,989,000 as of September 30, 2025, down from $775,436,000 as of December 31, 2024, a decrease of about 8.3%[37] Cash Flow and Investments - The company’s cash and cash equivalents increased to $5.8 million as of September 30, 2025, compared to $3.4 million at the end of 2024[11] - Cash flows from operating activities for the nine months ended September 30, 2025, were $62.065 million, down from $76.672 million in 2024[18] - The company had a net cash increase of $2.385 million for the nine months ended September 30, 2025, compared to $2.775 million in 2024[18] - The company acquired assets from Applegreen for a total consideration of $16.9 million, transitioning 59 locations to company-operated sites[29] Expenses and Costs - Operating expenses for Q3 2025 were $84.1 million, a decrease from $88.8 million in Q3 2024, reflecting cost management efforts[13] - The company reported depreciation, amortization, and accretion expense of $69.671 million for the nine months ended September 30, 2025, compared to $57.903 million in 2024[18] - Impairment charges recorded during the three months ended September 30, 2025, were $4.2 million, compared to $3.2 million in the same period of 2024, reflecting an increase of approximately 31.3%[35] - Cash paid for interest in the nine months ended September 30, 2025, was $36,112 thousand, slightly down from $36,987 thousand in 2024[95] Inventory and Receivables - Total inventory as of September 30, 2025, was $60,967,000, a decrease from $63,169,000 as of December 31, 2024, representing a decline of approximately 3.4%[33] - Total accounts receivable as of September 30, 2025, was $34,572 thousand, an increase from $32,237 thousand at December 31, 2024[89] - Receivables from fuel and merchandise sales increased to $33,421 thousand as of September 30, 2025, from $30,115 thousand at December 31, 2024[89] Environmental and Tax Liabilities - Environmental liabilities recorded on the balance sheet totaled $9.0 million and $8.4 million at September 30, 2025, and December 31, 2024, respectively[63] - Income tax expense for the three months ended September 30, 2025, was $2.9 million, compared to $2.4 million for the same period in 2024[76] - The effective tax rate differs from the combined federal and state statutory rate primarily because only corporate subsidiaries are subject to income tax[76] Distributions and Common Units - The company paid $60.212 million in distributions during the nine months ended September 30, 2025[18] - Common unit distributions to the Topper Group were $7.7 million for each of the three months ended September 30, 2025, and 2024, indicating stability in distributions[49] - Distributions paid on common units for the three months ended September 30, 2025, were $20,012,000, compared to $19,975,000 in 2024[78] Operational Changes - The company converted 13 sites from lessee dealer sites to company-operated or commission agent sites in the retail segment during the three months ended September 30, 2025[84] - The company has exclusive motor fuel distribution contracts with lessee dealers and independent dealers in the wholesale segment[81]

Allentown, PA, Nov. 05, 2025 (GLOBE NEWSWIRE) -- CrossAmerica Partners LP Reports Third Quarter 2025 Results Reported Third Quarter of 2025 Net Income of $13.6 million, Adjusted EBITDA of $41.3 million and Distributable Cash Flow of $27.8 million compared to Net Income of $10.7 million, Adjusted EBITDA of $43.9 million and Distributable Cash Flow of $27.1 million for the Third Quarter of 2024Reported Third Quarter of 2025 Gross Profit for the Retail Segment of $80.0 million compared to $83.6 million of Gro ...

Core Insights - Midstream energy stocks are involved in the processing, transportation, and storage of crude oil, natural gas, and natural gas liquids, operating in a sector less affected by spot pricing due to long-term contracts [1][5] - Master limited partnerships (MLPs) are highlighted as a strong investment option for energy exposure, offering substantial and dependable dividends, particularly from midstream companies [2][5] - A screening of midstream MLPs identified four top companies that provide high distributions to shareholders, emphasizing their appeal for income-focused investors [3] Industry Overview - Energy MLPs are attractive investments due to their structure and market position, typically offering annual distributions of 5% to 8% by distributing most cash flow to unitholders, thus providing a steady income stream [5] - MLPs benefit from stable, fee-based revenues linked to energy transportation, which mitigates risks associated with commodity price volatility [5] Company Spotlight - Cross America Partners L.P. has shown significant growth and is expected to continue this trend, offering a high dividend yield of 10.60% [6] - The company operates through two segments: wholesale distribution of motor fuel and retail sales at various sites, including convenience stores [7]

Core Viewpoint - CrossAmerica Partners LP is set to announce its third quarter 2025 earnings results on November 5, 2025, with a conference call scheduled for November 6, 2025, at 9:00 a.m. Eastern Time [2][3]. Company Overview - CrossAmerica Partners LP is a leading wholesale distributor of motor fuels and convenience store operator, formed in 2012. The company distributes branded and unbranded petroleum for motor vehicles across approximately 1,600 locations and owns or leases around 1,000 sites [5]. - The company operates in 34 states and has established relationships with major oil brands, including ExxonMobil, BP, Shell, Marathon, Valero, and Phillips 66. It ranks as one of ExxonMobil's largest distributors by fuel volume in the United States and is among the top 10 for additional brands [5]. Conference Call Details - The conference call can be accessed via numbers 800-990-4333 or 646-769-9600, with a passcode of 284226. A live audio webcast will also be available on the investor section of the CrossAmerica website [3]. - An archive of the webcast will be accessible within 24 hours after the call and will remain available for sixty days [4].

Core Viewpoint - CrossAmerica Partners LP is set to announce its third quarter 2025 earnings results on November 5, 2025, with a conference call scheduled for November 6, 2025, at 9:00 a.m. Eastern Time [2][3]. Company Overview - CrossAmerica Partners LP is a leading wholesale distributor of motor fuels and convenience store operator, formed in 2012. The company distributes branded and unbranded petroleum for motor vehicles across approximately 1,600 locations and owns or leases around 1,000 sites [5]. - The company operates in 34 states and has established relationships with major oil brands, including ExxonMobil, BP, Shell, Marathon, Valero, and Phillips 66. It ranks as one of ExxonMobil's largest distributors by fuel volume in the United States and is among the top 10 for additional brands [5].

Group 1 - Midstream energy stocks are involved in the processing, transportation, and storage of crude oil, natural gas, and natural gas liquids [1]

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