CrossAmerica Q2 net income $12.4M, down 14% YoY; retail gross profit up 16% to $76.6M

CrossAmerica Partners LP

2024-Q2 EPS reported -$0.17 revenue$2,074,903,000

Net income $12.4M vs $14.5M in Q2 2023; adjusted EBITDA $42.6M vs $42.2M.
Retail segment gross profit rose 16% to $76.6M on 9% higher fuel gallons; same-store fuel gallons fell 2%.
Wholesale gross profit fell 11% to $28.1M on 12% lower volume from site conversions.
Leverage improved to 4.39x from 4.49x in Q1 2024; distribution declared $0.525/unit.
Sold ten properties for $11.9M with $6.5M gain; 59-site Applegreen acquisition closed in Q1/Q2.

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