CrossAmerica Q3 net income falls to $10.7M; DCF $27.1M, distribution held at $0.5250

CrossAmerica Partners LP

2024-Q3 EPS reported $0.10 revenue$3,154,066,000

Net income $10.7M vs $12.3M YoY; adjusted EBITDA $43.9M vs $44.2M; distributable cash flow $27.1M vs $31.4M.
Retail segment gross profit up 24% to $83.6M on site conversions; wholesale gross profit down 16% to $27.6M.
Same-store retail fuel gallons flat YoY; merchandise gross margin slipped to 27.9% from 28.7%.
Leverage improved to 4.21x from 4.39x (Q2 2024); quarterly distribution maintained at $0.5250/unit.
Sold nine properties for $7.2M in Q3, net gain of $5.3M.

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