Increase in Net Income
Net income for the third quarter of 2025 increased to $13.6 million compared to $10.7 million in the third quarter of 2024, driven by increased gains on asset sales and a decline in interest expense.
Strong Asset Sale Proceeds
The company realized approximately $22 million in proceeds from the sale of 29 sites during the quarter, contributing to a total of around $100 million year-to-date, the highest in the company's history.
Reduced Interest Expense
Interest expense declined from $14.1 million in Q3 2024 to $11.8 million in Q3 2025 due to a lower average interest rate and reduced debt balance.
Increase in Inside Sales
Inside sales increased by approximately 3% year-over-year, driven by strong performance in packaged beverages and other tobacco products.