---
schema_version: "secwatch.filing_event.v1"
accession: "0000950170-24-056014"
form_type: "8-K"
ticker: "CAPL"
cik: "0001538849"
company_name: "CrossAmerica Partners LP"
filed_at: "2024-05-09T23:59:59+00:00"
generated_at: "2026-06-02T05:49:23.191521+00:00"
event_type: "earnings"
sentiment: "negative"
materiality_score: 0.7
calibrated_materiality_score: 0.7
confidence: "high"
source: SEC EDGAR
---

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

## Summary
- 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.

## SEC filing metadata
- accession: 0000950170-24-056014
- form_type: 8-K
- ticker: CAPL
- cik: 0001538849
- company_name: CrossAmerica Partners LP
- filed_at: 2024-05-09T23:59:59+00:00
- event_type: earnings
- sentiment: negative
- materiality_score: 0.7
- calibrated_materiality_score: 0.7
- confidence: high
- sec_items: 2.02, 7.01, 9.01
- EDGAR index: https://www.sec.gov/Archives/edgar/data/1538849/000095017024056014/0000950170-24-056014-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/1538849/000095017024056014/capl-20240508.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0000950170-24-056014
- JSON: https://secwatch.observer/filing/0000950170-24-056014.json
- Plain text: https://secwatch.observer/filing/0000950170-24-056014.txt

## Key facts
- Earnings Releases
  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
  source text: 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
  evidence_url: https://www.sec.gov/Archives/edgar/data/1538849/000095017024056014/0000950170-24-056014-index.htm

This AI-assisted summary is a reading aid. Review the linked SEC EDGAR filing before relying on any specific claim.