CrossAmerica Partners Sold 15 Sites in Q3
Since the beginning of 2026, the retailer has sold a total of 36 sites.
Nov 05, 2026 | 2 min read
CrossAmerica Partners LP (CAP) recently reported its financial results for the third quarter ended September 30, 2026.
Key highlights from the report include:
- The retailer reported a third quarter of 2026 net income of $8.8 million, Adjusted EBITDA of $38.7 million and distributable cash flow of $21.8 million compared to net income of $13.6 million, Adjusted EBITDA of $41.3 million and distributable cash flow of $27.8 million for the third quarter of 2025.
- Third quarter of 2026 gross profit for the retail segment of $78.0 million compared to $80.0 million of gross profit for the third quarter of 2025.
- During the three months ended September 30, 2026, CrossAmerica sold 15 sites for $10.6 million in proceeds, resulting in a net gain of $2.9 million. For the nine months ended September 30, 2026, CrossAmerica sold 36 sites for $26.0 million in proceeds, resulting in a net gain of $10.3 million.
- Leverage, as defined in the CAPL Credit Facility, was 3.72 times as of September 30, 2026, compared to 3.56 times as of September 30, 2025.
- The distribution coverage ratio for the trailing twelve months ended September 30, 2026, was 1.32 times compared to 1.00 times for the comparable period of 2025.
CAP highlighted that its decline in net income was primarily driven by the decrease in Adjusted EBITDA in addition to lower net gains in connection with CrossAmerica's ongoing real estate optimization effort, with $7.4 million in net gains for the third quarter of 2025 compared to $2.4 million in net gains for the third quarter of 2026.
“While higher fuel prices pressured volumes in the third quarter, our team continued to deliver on the things we can control,” said Maura Topper, CEO and president of CrossAmerica. “Our merchandise business again delivered, with continued growth in merchandise margin percentage reflecting the strength of our convenience store operations and programs, and our focus on cost management drove lower operating expenses across the business. These results, together with solid fuel margins, keep us materially ahead of last year through the first nine months in both Adjusted EBITDA and Distributable Cash Flow.”
