Crossamerica Partners LP | 8-K: FY2025 Q3 Revenue: USD 971.85 M

Revenue: As of FY2025 Q3, the actual value is USD 971.85 M.

EPS: As of FY2025 Q3, the actual value is USD 0.34, beating the estimate of USD 0.07.

EBIT: As of FY2025 Q3, the actual value is USD 39.87 M.

Segment Revenue

• Wholesale Segment: Engages in the wholesale distribution of motor fuels to lessee dealers, independent dealers, commission agents, and company-operated retail sites.
• Retail Segment: Involves the sale of convenience merchandise and the retail sale of motor fuels at company-operated retail sites and retail sites operated by commission agents.

Operational Metrics

• Net Income: $13.6 million in Q3 2025, an increase from $10.7 million in Q3 2024, primarily due to gains from asset sales and a decline in interest expense.
• Adjusted EBITDA: $41.3 million in Q3 2025, down from $43.9 million in Q3 2024, mainly due to a decline in fuel and rent gross profit.
• Distributable Cash Flow: Increased to $27.8 million from $27.1 million in Q3 2024.
• Operating Expenses: Decreased by 5% from $60.8 million in Q3 2024 to $57.5 million in Q3 2025.
• Leverage: The leverage ratio was 3.56 times as of September 30, 2025, compared to 4.36 times as of December 31, 2024.

Retail Segment

• Gross Profit: $80.0 million, a decrease from $83.6 million in Q3 2024, primarily due to a decrease in motor fuel gross profit.
• Motor Fuel Gallons Distributed: 141.8 million, down from 148.4 million in Q3 2024.
• Merchandise Sales: Same store merchandise sales excluding cigarettes increased to $75.8 million from $73.1 million, with a merchandise gross profit percentage increase from 27.9% to 28.9%.
• Operating Expenses: Decreased by 3% to $50.6 million.

Wholesale Segment

• Gross Profit: $24.8 million, down from $27.6 million in Q3 2024, driven by a decline in motor fuel and rent gross profit.
• Motor Fuel Gallons Distributed: 177.7 million, a decrease from 186.9 million in Q3 2024.

Cash Flow

• Operating Cash Flow: Net cash provided by operating activities was $62.1 million for the nine months ended September 30, 2025, compared to $76.7 million for the same period in 2024.
• Capital Expenditures: $6.7 million in Q3 2025, with $4.8 million allocated to growth capex.

Unique Metrics

• Asset Sales: CrossAmerica sold 29 properties for $21.9 million in proceeds during Q3 2025, resulting in a net gain of $7.4 million.

Outlook / Guidance

• CrossAmerica Partners LP continues to focus on its asset-sale initiative, which has enabled debt reduction and strategic portfolio enhancement. The company is also adjusting its pricing strategy in response to market trends and aims to improve long-term performance through these strategic efforts.
• The company remains committed to managing debt levels and leverage ratio effectively, with ongoing benefits from interest rate swaps expected in the elevated rate environment.