Crossamerica Partners ( (CAPL) ) has provided an update.
CrossAmerica Partners LP reported a decline in net income for Q3 2024, with a slight dip in adjusted EBITDA compared to the previous year, attributed to increased operating expenses from converting lessee dealer sites to company-operated ones. Despite this, the retail segment saw a 24% rise in gross profit, fueled by strategic site conversions, and a 12% increase in retail fuel gallons sold. The wholesale segment faced a 16% drop in gross profit due to decreased motor fuel and rent profits and a loss of independent dealer contracts. Overall, CrossAmerica maintained a solid distribution coverage ratio and lower leverage, signaling a strong financial position.
For detailed information about CAPL stock, go to TipRanks’ Stock Analysis page.
