Q2 25 EPS
$0.64
BEAT +220.00%
Est. $0.20
Q2 25 Revenue
$961.9M
BEAT +21.22%
Est. $793.5M
vs S&P Since Q2 25
-1.8%
TRAILING MARKET
CAPL +17.6% vs S&P +19.4%
Market Reaction
Did CAPL Beat Earnings? Q2 2025 Results
CrossAmerica Partners delivered a standout second quarter, with earnings per share of $0.64 clearing the $0.20 consensus estimate by 220.00% and revenue of $961.92 million beating expectations by 21.22%, even as top-line results reflected a 15.1% yea… Read more CrossAmerica Partners delivered a standout second quarter, with earnings per share of $0.64 clearing the $0.20 consensus estimate by 220.00% and revenue of $961.92 million beating expectations by 21.22%, even as top-line results reflected a 15.1% year-over-year decline. The headline driver was the partnership's aggressive real estate rationalization program, which produced a $29.70 million net gain from the sale of 60 non-strategic properties for $64.00 million in proceeds, more than doubling net income to $25.17 million. Those proceeds were immediately put to work reducing debt, cutting the credit facility balance by $51.00 million to $727.00 million and improving the leverage ratio to 3.65x from 4.36x at year-end 2024. Underneath the asset-sale boost, the underlying business softened, with adjusted EBITDA declining 13% to $37.08 million amid lower fuel and rent gross profit. A bright spot emerged in merchandising, where same-store sales excluding cigarettes grew 4%. Management signaled that further divestitures, particularly in the Northeast, remain on the agenda as the company prioritizes cash flow and balance sheet strength.
Key Takeaways
- • Net gain from asset sales and lease terminations of $28.4 million drove net income growth
- • Same store merchandise sales excluding cigarettes increased 4% year-over-year
- • Merchandise gross profit increased 2% supported by transition from commission to gross profit model
- • Decline in interest expense due to lower average interest rate and lower outstanding debt balance
- • Retail motor fuel volume declined 1% with same store volume down 2%
- • Wholesale volume decreased 7% primarily from conversion of wholesale locations to retail
- • Adjusted EBITDA declined 13% due to lower fuel and rent gross profit and higher operating expenses
CAPL YoY Financials
Q2 2025 vs Q2 2024, source: SEC Filings
CAPL Revenue by Segment
With YoY comparisons, source: SEC Filings
“Our second quarter results showed a meaningful improvement over the first quarter, although they remained below prior-year levels. During the quarter, we completed several asset sales, reducing debt by more than $50 million and strengthening our balance sheet. These transactions also positioned our operating portfolio for long-term performance. While overall demand remains soft, our volume and store sales outpaced industry trends, reflecting the strength of our market position.”
— Charles Nifong, Q2 2025 Earnings Press Release
CAPL Earnings Trends
CAPL vs Market 30 Day Price Reactions
30-day stock return vs benchmark after each earnings
CAPL EPS Trend
Earnings per share: estimate vs actual
CAPL Revenue Trend
Quarterly revenue: estimate vs actual
CAPL Quarterly Results
5 quarters of earnings data
| Quarter | EPS Est. | EPS Act. | Surprise | Revenue | Rev. Surprise |
|---|---|---|---|---|---|
| Q1 26 BEAT | $-0.16 | $0.26 | +262.50% | $841.8M | +20.72% |
| Q4 25 BEAT FY | $0.05 | $0.25 | +400.00% | $866.3M | +15.81% |
| FY Full Year | $0.82 | $1.02 | +24.39% | $3.66B | +3.34% |
| Q3 25 BEAT | $0.07 | $0.34 | +385.71% | $971.8M | +24.45% |
| Q2 25 BEAT | $0.20 | $0.64 | +220.00% | $961.9M | +21.22% |
| Q1 25 MISS | $-0.06 | $-0.20 | -233.33% | $862.5M | +17.33% |