10-K · February 25, 2026
CrossAmerica (CAPL) describes a dual wholesale and retail strategy focused on generating cash to support quarterly distributions via site acquisitions, optimizing site operating formats, and monetizing real estate. In…
Earnings analysis · 10-Q
CAPL earnings analysis
Filed May 6, 2026 · Our reading of the company's report
The latest report
CrossAmerica Partners LP's Q1 2026 performance showed a slight revenue dip but marked improvements in net income and earnings per share. Revenue totaled $841.8 million, down 2% from the previous year, while net income…
Read full summary
CrossAmerica Partners LP's Q1 2026 performance showed a slight revenue dip but marked improvements in net income and earnings per share. Revenue totaled $841.8 million, down 2% from the previous year, while net income surged to $10.7 million, translating to an EPS of $0.26, beating expectations. Despite challenges in the wholesale segment, operational improvements were evident as the company maintained its distribution at $0.525 per unit.
Gross and operating margin
How much of each revenue dollar the business keeps.
One point per quarterly or annual filing. Both margins are shares of that report's revenue.
From revenue to operating profit
Where each $100 of revenue went in this report.
Cost of sales, operating expenses, and what remained. Figures are rounded to whole dollars.
How we read each report
Our analysis across the last few reports.
Our model's reading of each filing, not the share price or the market's reaction. Annual and quarterly reports each occupy one position.
Reported figures
- Earnings per share
- $0.26
- Segment
- Retail
- Segment
- Wholesale
What stood out
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Net Income Surges 250% Year-over-Year
Net income increased to $10.7 million compared to a loss of $7.1 million in Q1 2025.
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Earnings Per Share Beats Estimates
EPS reported at $0.26 versus the consensus estimate of -$0.16.
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Significant Esavings in Interest Expense
Interest expense decreased from $12.8 million in Q1 2025 to $10.8 million due to lower outstanding debt.
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Increased Retail Segment Gross Profit
Retail segment gross profit grew by $11.1 million (18%) to $74.3 million due to better margins on fuel.
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Improved Distribution Coverage Ratio
The distribution coverage ratio increased to 1.07x from 0.46x in the prior year.
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Continued Focus on Real Estate Optimization
Ongoing asset sales contributed gains and cost reductions, aiding overall profitability.
What to watch
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Wholesale Segment Profit Decline
Wholesale segment gross profit fell by $3.3 million (13%) due to lower volumes from site conversions.
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Persistent Inflationary Pressures
Inflation led to increased costs impacting operational expenses across all segments.
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Geopolitical Risks Affecting Fuel Prices
Volatile crude oil prices linked to geopolitical tensions could further impact margins inconsistently.
Management's outlook
Guidance on financial outlook is deferred to future earnings releases.
Earlier filings 4
10-K · February 27, 2024
CrossAmerica (CAPL) reports 2023 operations concentrated in two segments (Wholesale and Retail) across ~1,700 distributed sites and ~1,100 owned/leased sites, with total segment revenues of $2,290M (Wholesale) and…
10-Q · November 8, 2023
CrossAmerica reported Q3 operating revenues of $1,210,023,000 and diluted EPS of $0.31. Revenue, gross profit and operating income declined vs. Q3 2022, while operating cash flow for the nine months remained positive at…
10-Q · November 8, 2022
CrossAmerica reported a strong Q3 2022: operating revenues of $1,274,407,000 (up $289,285,000 or ~29.4% vs Q3 2021) with gross profit of $114,730,000 and diluted EPS of $0.71 (vs $0.23 in Q3 2021). Margins expanded…
This is our reading of a public filing, not the filing itself. Analysis can contain errors; check the source document for full context.