CAPL

EX-99.1

2 capl-ex99_1.htm

EX-99.1 EARNINGS RELEASE Q1-26

EX-99.1

Exhibit 99.1

CrossAmerica Partners LP Reports First Quarter 2026 Results

- Reported First Quarter of 2026 Net Income of $10.7 million, Adjusted EBITDA of $35.1 million and Distributable Cash Flow of $21.5 million compared to a Net Loss of $7.1 million, Adjusted EBITDA of $24.3 million and Distributable Cash Flow of $9.1 million for the First Quarter of 2025

- Reported First Quarter of 2026 Gross Profit for the Retail Segment of $74.3 million compared to $63.2 million of Gross Profit for the First Quarter of 2025 and First Quarter of 2026 Gross Profit for the Wholesale Segment of $23.3 million compared to $26.7 million of Gross Profit for the First Quarter of 2025

- Leverage, as defined in the CAPL Credit Facility, was 3.35 times as of March 31, 2026, compared to 4.27 times as of March 31, 2025

- The Distribution Coverage Ratio for the trailing twelve months ended March 31, 2026 was 1.25 times compared to 1.04 times for the comparable period of 2025

- The Board of Directors of CrossAmerica's General Partner declared a quarterly distribution of $0.5250 per limited partner unit attributable to the First Quarter of 2026

- Appointed Maura Topper as Chief Executive Officer and President and Jon Benfield as Interim Chief Financial Officer effective March 2, 2026

Allentown, PA May 6, 2026 – CrossAmerica Partners LP (NYSE: CAPL) (“CrossAmerica” or the “Partnership”), a leading wholesale fuels distributor, convenience store operator, and owner and lessor of real estate used in the retail distribution of motor fuels, today reported financial results for the first quarter ended March 31, 2026.

"We started the new year with a strong first quarter generating a record level of Adjusted EBITDA for the Partnership, as our business benefited from the strategic initiatives we have been focused on for the last several years,” said Maura Topper, CEO and President of CrossAmerica. “Our increased exposure to retail operations drove strong motor fuel and merchandise gross profit performance, while our team's disciplined focus on cost management helped us deliver solid results across the business. The fuels market has experienced significant volatility over the past several weeks, and I'm proud of how our team has executed through it — our model and our people are well-suited to navigate this kind of environment. We also continued to pay down our credit facility during the quarter, improving our interest expense and leverage, and further strengthening our balance sheet as we look ahead to the remainder of 2026."

1

First Quarter Results

Consolidated Results

Key Operating Metrics

Q1 2026

Q1 2025

Net Income (Loss)

$10.7M

($7.1M)

Adjusted EBITDA

$35.1M

$24.3M

Distributable Cash Flow

$21.5M

$9.1M

Distribution Coverage Ratio: Current Quarter

1.07x

0.46x

Distribution Coverage Ratio: Trailing 12 Months

1.25x

1.04x

CrossAmerica reported increases in Net Income (Loss), Adjusted EBITDA, Distributable Cash Flow and Distribution Coverage for the first quarter of 2026 compared to the first quarter of 2025. The increase in Adjusted EBITDA was primarily driven by an increase in motor fuel margin per gallon and an increase in merchandise gross profit in the retail segment and an overall decline in operating and general and administrative expenses, partially offset by a decline in gross profit for the wholesale segment. The increase for the first quarter of 2026 in Net Income, Distributable Cash Flow and Distribution Coverage was primarily driven by the increase in Adjusted EBITDA noted above in addition to a $2.1 million decrease in interest expense due to a lower average interest rate along with a lower average outstanding debt balance.

Retail Segment

Key Operating Metrics

Q1 2026

Q1 2025

Retail segment gross profit

$74.3M

$63.2M

Retail segment motor fuel gallons distributed

117.7M

126.5M

Same store motor fuel gallons distributed

108.5M

117.1M

Retail segment motor fuel gross profit

$39.9M

$31.2M

Retail segment margin per gallon, before deducting credit card fees and commissions

$0.437

$0.339

Same store merchandise sales excluding cigarettes*

$59.6M

$58.3M

Merchandise gross profit*

$27.0M

$24.9M

Merchandise gross profit percentage*

29.7%

27.9%

Operating Expenses

$50.0M

$51.7M

Retail Sites (average for period)

576

599

*Includes only company operated retail sites

For the first quarter of 2026, the retail segment generated an 18% increase in gross profit compared to the first quarter of 2025, primarily due to increases in both motor fuel and merchandise gross profit compared to the prior year.

The motor fuel gross profit for the retail segment increased $8.7 million or 28%, attributable to a 29% increase in the margin per gallon for the three months ended March 31, 2026 as compared to the same period in 2025. The increase in margin per gallon was primarily driven by movements in crude oil prices within the two periods

8-K

0001538849false 00015388492026-02-252026-02-25

UNITED STATES

SECURITIES AND EXCHANGE COMMISSION

Washington, D.C. 20549

FORM 8-K

CURRENT REPORT

Pursuant to Section 13 OR 15(d) of the Securities Exchange Act of 1934 Date of Report (Date of earliest event reported): February 25, 2026 CrossAmerica Partners LP (Exact name of registrant as specified in its charter)

Delaware

001-35711

45-4165414

(State or other jurisdiction of incorporation)

(Commission File Number)

(IRS Employer Identification No.)

645 Hamilton Street, Suite 400 Allentown, PA

18101

(Address of principal executive offices)

(Zip Code)

Registrant’s telephone number, including area code: (610) 625-8000 Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions:

☐

Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)

☐

Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)

☐

Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))

☐

Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))

Securities registered pursuant to Section 12(b) of the Act:

Title of each class

Trading Symbol(s)

Name of each exchange on which registered

Common Units

CAPL

New York Stock Exchange

Indicate by check mark whether the registrant is an emerging growth company as defined in Rule 405 of the Securities Act of 1933 (§230.405 of this chapter) or Rule 12b-2 of the Securities Exchange Act of 1934 (§240.12b-2 of this chapter). Emerging growth company☐ If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act.☐

Item 2.02 Results of Operations and Financial Condition. On February 25, 2026, CrossAmerica Partners LP (“CrossAmerica” or the “Partnership”) issued a press release announcing its financial results for the year ended December 31, 2025. A copy of the press release is furnished as Exhibit 99.1 to this Current Report on Form 8-K. Item 7.01 Regulation FD Disclosure. Furnished herewith as Exhibit 99.2 are slides that senior management of CrossAmerica will utilize in CrossAmerica’s fourth quarter 2025 earnings call. The slides are available on the Webcasts & Presentations page of CrossAmerica’s website at www.crossamericapartners.com. The information in Item 2.02, Item 7.01 and Exhibits 99.1 and 99.2 of Item 9.01 of this report, according to general instruction B.2., shall not be deemed “filed” for the purposes of Section 18 of the Securities and Exchange Act of 1934, as amended, or otherwise subject to the liabilities of that Section, and shall not be incorporated by reference into any registration statement pursuant to the Securities Act of 1933, as amended. By furnishing this information, the Partnership makes no admission as to the materiality of such information that the Partnership chooses to disclose solely because of Regulation FD.

Safe Harbor Statement

Statements contained in the exhibits to this report that state the Partnership’s or its management’s expectations or predictions of the future are forward-looking statements. It is important to note that the Partnership’s actual results could differ materially from those projected in such forward-looking statements. Factors that could affect those results include those mentioned in the Partnership’s Annual Report on Form 10-K for the year ended December 31, 2025 and in subsequent filings that the Partnership has filed with the Securities and Exchange Commission (the “SEC”). The Partnership undertakes no duty or obligation to publicly update or revise the information contained in this report, although the Partnership may do so from time to time as management believes is warranted. Any such updating may be made through the filing of other reports or documents with the SEC, through press releases or through other public disclosure. Item 9.01 Financial Statements and Exhibits (d) Exhibits

Exhibit No.

Description

99.1

Press Release dated February 25, 2026 regarding CrossAmerica's earnings

99.2

Investor Presentation Slides of CrossAmerica

104

Cover Page Interactive Data File (embedded within the Inline XBRL document)

SIGNATURE

Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.

CrossAmerica Partners LP

By:

CrossAmerica GP LLC

its general partner

By:

/s/ Keenan D. Lynch

Name:

Keenan D. Lynch

Title:

General Counsel and Chief Administrative Officer

Dated: February 25, 2026

8-K

0001538849false 00015388492025-11-052025-11-05

UNITED STATES

SECURITIES AND EXCHANGE COMMISSION

Washington, D.C. 20549

FORM 8-K

CURRENT REPORT

Pursuant to Section 13 OR 15(d) of the Securities Exchange Act of 1934 Date of Report (Date of earliest event reported): November 5, 2025 CrossAmerica Partners LP (Exact name of registrant as specified in its charter)

Delaware

001-35711

45-4165414

(State or other jurisdiction of incorporation)

(Commission File Number)

(IRS Employer Identification No.)

645 Hamilton Street, Suite 400 Allentown, PA

18101

(Address of principal executive offices)

(Zip Code)

Registrant’s telephone number, including area code: (610) 625-8000 Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions:

☐

Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)

☐

Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)

☐

Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))

☐

Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))

Securities registered pursuant to Section 12(b) of the Act:

Title of each class

Trading Symbol(s)

Name of each exchange on which registered

Common Units

CAPL

New York Stock Exchange

Indicate by check mark whether the registrant is an emerging growth company as defined in Rule 405 of the Securities Act of 1933 (§230.405 of this chapter) or Rule 12b-2 of the Securities Exchange Act of 1934 (§240.12b-2 of this chapter). Emerging growth company☐ If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act.☐

Item 2.02 Results of Operations and Financial Condition. On November 5, 2025, CrossAmerica Partners LP (“CrossAmerica” or the “Partnership”) issued a press release announcing its financial results for the quarter ended September 30, 2025. A copy of the press release is furnished as Exhibit 99.1 to this Current Report on Form 8-K. Item 7.01 Regulation FD Disclosure. Furnished herewith as Exhibit 99.2 are slides that senior management of CrossAmerica will utilize in CrossAmerica’s second quarter 2025 earnings call. The slides are available on the Webcasts & Presentations page of CrossAmerica’s website at www.crossamericapartners.com. The information in Item 2.02, Item 7.01 and Exhibits 99.1 and 99.2 of Item 9.01 of this report, according to general instruction B.2., shall not be deemed “filed” for the purposes of Section 18 of the Securities and Exchange Act of 1934, as amended, or otherwise subject to the liabilities of that Section, and shall not be incorporated by reference into any registration statement pursuant to the Securities Act of 1933, as amended. By furnishing this information, the Partnership makes no admission as to the materiality of such information that the Partnership chooses to disclose solely because of Regulation FD.

Safe Harbor Statement

Statements contained in the exhibits to this report that state the Partnership’s or its management’s expectations or predictions of the future are forward-looking statements. It is important to note that the Partnership’s actual results could differ materially from those projected in such forward-looking statements. Factors that could affect those results include those mentioned in the Partnership’s Annual Report on Form 10-K for the year ended December 31, 2024 and in subsequent filings that the Partnership has filed with the Securities and Exchange Commission (the “SEC”). The Partnership undertakes no duty or obligation to publicly update or revise the information contained in this report, although the Partnership may do so from time to time as management believes is warranted. Any such updating may be made through the filing of other reports or documents with the SEC, through press releases or through other public disclosure. Item 9.01 Financial Statements and Exhibits (d) Exhibits

Exhibit No.

Description

99.1

Press Release dated November 5, 2025 regarding CrossAmerica's earnings

99.2

Investor Presentation Slides of CrossAmerica

104

Cover Page Interactive Data File (embedded within the Inline XBRL document)

SIGNATURE

Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.

CrossAmerica Partners LP

By:

CrossAmerica GP LLC

its general partner

By:

/s/ Keenan D. Lynch

Name:

Keenan D. Lynch

Title:

General Counsel and Chief Administrative Officer

Dated: November 5, 2025