Q4 25 EPS
$0.25
BEAT +400.00%
Est. $0.05
Q4 25 Revenue
$866.3M
BEAT +15.81%
Est. $748.0M
vs S&P Since Q4 25
+3.1%
BEATING MARKET
CAPL +12.6% vs S&P +9.5%
Full Year 2025 Results
FY 25 EPS
$1.02
BEAT +24.39%
Est. $0.82
FY 25 Revenue
$3.66B
BEAT +3.34%
Est. $3.54B
Market Reaction
Did CAPL Beat Earnings? Q4 2025 Results
CrossAmerica Partners closed out Q4 2025 with a decisive earnings beat, posting GAAP EPS of $0.25 against a consensus estimate of just $0.05, a 400.00% positive surprise, while revenue of $866.29 million cleared the $748.01 million forecast by 15.81%… Read more CrossAmerica Partners closed out Q4 2025 with a decisive earnings beat, posting GAAP EPS of $0.25 against a consensus estimate of just $0.05, a 400.00% positive surprise, while revenue of $866.29 million cleared the $748.01 million forecast by 15.81% despite slipping 8.3% year-over-year. The standout driver behind the quarter's strength was a sharp improvement in retail fuel economics, with margin per gallon climbing 19% to $0.45 and merchandise gross profit margin expanding 70 basis points to 29.1%, lifting retail segment gross profit 10% to $82.92 million. At the same time, an aggressive asset disposition program, spanning 107 property sales generating $103.30 million in proceeds during 2025, helped drive leverage down to 3.51x from 4.36x a year earlier, materially improving the balance sheet. Some analysts have questioned whether one-time gains cloud the durability of earnings, though management entered 2026 emphasizing a strengthened core business, reduced debt load, and continued focus on retail expansion and operational efficiency as the primary growth levers.
Key Takeaways
- • 19% increase in retail motor fuel margin per gallon to $0.449 in Q4
- • 13% increase in wholesale margin per gallon to $0.093 in Q4
- • Merchandise gross profit margin expanded 70 bps to 29.1% in Q4
- • Same store merchandise sales excluding cigarettes increased 1% in Q4
- • Operating expenses declined 1% in retail segment in Q4
- • Interest expense decreased $4.2 million year-over-year for full year due to lower average interest rate and lower outstanding debt
- • Transition of certain merchandise products from scan-based trading model to gross profit model
- • Strategic site conversions from wholesale to retail enabling better margin capture
CAPL YoY Financials
Q4 2025 vs Q4 2024, source: SEC Filings
CAPL Revenue by Segment
With YoY comparisons, source: SEC Filings
“We delivered a solid fourth quarter, driven by strong retail and wholesale fuel margins, along with growth in same-store sales and store margin percentage, resulting in performance well above the prior year.”
— Charles Nifong, Q4 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% |