CrossAmerica Q1 net loss $17.5M; Adj EBITDA down 26% to $23.6M

CrossAmerica Partners LP

2024-Q1 EPS reported -$0.48 revenue$941,548,000

Q1 2024 net loss of $17.5M (incl. $15.9M Applegreen lease termination loss) vs net loss of $1.0M in Q1 2023.
Adjusted EBITDA $23.6M, down 26% from $31.7M; Distributable Cash Flow $11.7M vs $19.1M.
Wholesale gross profit $27.0M (-13% YoY); retail gross profit $54.4M (+7% YoY).
Leverage 4.49x vs 4.21x at Dec 2023; distribution coverage ratio 1.37x (trailing 12M) vs 1.70x.
59 Applegreen lessee dealer locations converted to company-operated retail in early Q2 2024.

item 2.02 item 7.01 item 9.01

Key facts

Extracted from this filing and checked against the source text.

Earnings Releases SEC 8-K Item 2.02 confidence 0.9

CrossAmerica Partners LP reported quarter ended March 31, 2024 results: net income Net Loss of $17.5 million.

Period: quarter ended March 31, 2024
Net income: Net Loss of $17.5 million
Result: reported results

Exact text from the filing

Reported First Quarter 2024 Net Loss of $17.5 million that includes a $15.9 million loss on lease terminations with Applegreen, Adjusted EBITDA of $23.6 million and Distributable Cash Flow of $11.7 million compared to a Net Loss of $1.0 million, Adjusted EBITDA of $31.7 million and Distributable Cash Flow of $19.1 million for the First Quarter 2023

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Source: SEC EDGAR

accession 0000950170-24-056014

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