CrossAmerica Partners Reports Q3 2026 Earnings Decline Amid High Fuel Prices
CrossAmerica Partners (CAPL) reported a decline in third-quarter financial results, with net income falling to $8.8 million from $13.6 million in the prior-year period. The downturn was primarily driven by lower Adjusted EBITDA and reduced gains from asset sales. Management attributed the performance challenges to elevated fuel prices, which pressured motor fuel volumes across both the retail and wholesale business segments. Despite these headwinds, the company demonstrated resilience in its merchandise segment, where gross profit grew 2% due to improved margins. Additionally, CrossAmerica achieved its fifth consecutive quarter of year-over-year operating expense reductions. The partnership continues to execute a real estate optimization strategy, realizing $10.6 million from the sale of 15 properties during the quarter.