Q1 2025 Crossamerica Partners LP Earnings Call Transcript

May 08, 2025 / 01:00PM GMT

Release Date Price: $22.26 (-2.37%)

Transcript 10-Q8-K

Key Points

Positve

Retail segment gross profit increased by 16% to $63.2 million compared to the first quarter of 2024.
Retail fuel margin improved by 10% year-over-year, reaching $0.339 per gallon.
Wholesale motor fuel gross profit increased by 8% to $15.8 million.
Successful conversion of lessy dealer sites to company-operated and commission agent sites, increasing retail site count by 64.
Adjusted EBITDA increased by 3% from the prior year, indicating improved operational efficiency.

Negative

Net loss of $7.1 million for the first quarter of 2025, although improved from a $17.5 million loss in the prior year.
Retail same-store fuel volume declined by 4% year-over-year.
Wholesale segment gross profit declined by 1% due to a decrease in fuel volume and rental income.
Distributable cash flow decreased to $9.1 million from $11.7 million in the first quarter of 2024.
Distribution coverage for the first quarter was 0.46 times, indicating challenges in covering distributions with cash flow.

Operator

Good morning ladies and gentlemen, and welcome to the Crossamerica Partners first-quarter 2025 earnings call. (Operator instructions) This call is being recorded on Thursday, May 8, 2025.

I would now like to turn the call over to Maura Topper, Chief Financial Officer. Please go ahead.

Maura Topper

Crossamerica Partners LP - Chief Financial Officer, Director of CrossAmerica GP LLC

Thank you, operator. Good morning and thank you for joining the Crossamerica Partners first quarter 2025 earnings call. With me today is Charles Nifong, CEO and President.

We'll start off the call today with Charles providing some opening comments and an overview of Cross America's operational performance for the first quarter, and then I will discuss the financial results. We will then open up the call to questions. Today's call will follow presentation slides that are available as part of the webcast and are posted on the Crossamerica website.

Before we begin, I would like to remind everyone that today's call, including the question and answer session

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