CrossAmerica Partners LP reported third quarter 2026 revenue of $1.19 billion, exceeding analyst estimates, although net income and Adjusted EBITDA declined year-over-year. The results were primarily pressured by lower motor fuel volumes in both segments, which were partially offset by growth in merchandise gross profit and effective cost management.
Key Highlights
- Retail fuel gross profit declined 8% to $37.6 million as volume distributed dropped 9%, even as retail margins expanded to $0.404 per gallon.
- Merchandise gross profit increased 2% to $32.8 million, with margins expanding to 30.3% driven by a sales mix shift toward higher-margin food categories.
- Wholesale fuel volume fell 8% year-over-year, leading to a 9% decrease in wholesale motor fuel gross profit to $14.3 million.
- The partnership declared a $0.5250 per unit distribution, supported by a trailing twelve-month distribution coverage ratio of 1.32x.