The following is a summary of the CrossAmerica Partners LP Common Units (CAPL) Q3 2024 Earnings Call Transcript:

Financial Performance:

• CrossAmerica Partners reported a net income of $10.7 million for Q3 2024, down from $12.3 million in Q3 2023.

• Adjusted EBITDA slightly decreased by 1% to $43.9 million in Q3 2024 from $44.2 million in Q3 2023.

• Distributable cash flow declined to $27.1 million in Q3 2024 from $31.4 million in the previous year, primarily due to an increase in interest expense and higher sustaining capital spending.

Business Progress:

• Retail segment saw a 24% increase in gross profit and a 19% increase in operating income, with notably higher fuel margins.

• Wholesale segment gross profit declined by 16% due to a drop in fuel volume, partially offset by higher margins per gallon.

• CrossAmerica increased company-operated retail site count by 79 sites from last year and continued active property divestitures, enhancing their strategic shift towards retail operations.

Opportunities:

• The conversion from wholesale to retail operations has increased exposure to higher retail fuel margins.

• Continued investment and strategy in converting sites highlight potential for robust retail segment growth and enhanced profitability.

Risks:

• Retail segment experienced a soft demand environment with flat same-store sales and a slight decline in inside sales despite strong fuel margin performance.

More details: CrossAmerica IR

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