secwatch.observer — SEC 8-K summary
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Issuer:     CrossAmerica Partners LP (CAPL)
CIK:        0001538849
Form:       8-K
Filed at:   2024-05-09T23:59:59+00:00
Accession:  0000950170-24-056014
Event type: earnings
Sentiment:  negative
Materiality: 0.70
Item codes: 2.02, 7.01, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

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

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/1538849/000095017024056014/0000950170-24-056014-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/1538849/000095017024056014/capl-20240508.htm
  HTML page:      https://secwatch.observer/filing/0000950170-24-056014

License: Source filings: public domain (SEC EDGAR). Summaries (headline + bullets): CC-BY-4.0; attribute https://secwatch.observer