earnings
confidence high
sentiment positive
materiality 0.75
CrossAmerica Q1 2022 operating income $9.7M, adjusted EBITDA $32M, both up strongly YoY
CrossAmerica Partners LP
- Operating income $9.7M vs. ($0.9M) loss in Q1 2021; net income $5.0M ($0.13/diluted unit) vs. ($4.0M) loss.
- Adjusted EBITDA $32.0M (+55% YoY); distributable cash flow $24.2M (+53% YoY).
- Wholesale gross profit $46.9M on 320.2M gallons (+10% vol, margin 10.2¢/gal +40% YoY).
- Retail gross profit $32.7M (+66% YoY); same-store retail fuel gallons +4%.
- Distribution coverage ratio 1.22x for Q1 and 1.39x TTM; quarterly distribution $0.5250/unit.