CrossAmerica Partners (CAPL)

Company Profile

CrossAmerica Partners is a leading wholesale distributor of motor fuels, convenience store operator and owner and lessor of real estate used in the retail distribution of motor fuels. Its general partner, CrossAmerica GP LLC, is indirectly owned and controlled by entities affiliated with Joseph V. Topper, Jr., the founder of CrossAmerica Partners and a member of the board of the general partner since 2012. Formed in 2012, CrossAmerica Partners LP is a distributor of branded and unbranded petroleum for motor vehicles in the United States and distributes fuel to approximately 1,700 locations and owns or leases approximately 1,100 sites. With a geographic footprint covering 34 states, the Partnership has well-established relationships with several major oil brands, including ExxonMobil, BP, Shell, Chevron, Sunoco, Valero, Gulf, Citgo, Marathon and Phillips 66. CrossAmerica Partners ranks as one of ExxonMobil's largest distributors by fuel volume in the United States and in the top 10 for additional brands.

Company profile

Ticker

CAPL

Exchange

NYSE

Website

www.crossamericapartners.com

CEO

Gerardo Valencia

Incorporated

Delaware

Location

Pennsylvania

Fiscal year end

Dec 31

Sector

Transportation and Warehousing > Pipeline Transportation of Crude Oil

Industry (SIC)

Wholesale - Petroleum & Petroleum Products (No Bulk Stations)

Macquarie Infrastructure • World Fuel Services • Adams Resources & Energy • CBL International • Mitsui & CO • CW Petroleum ...

Former names

Lehigh Gas Partners LP

SEC CIK

0001538849

Corporate docs

Articles of Incorporation & Bylaws

Underwriting Agreements

Plans of Reorganization

Indentures

Material Contracts & Credit Agreements

Subsidiaries Lists

Subsidiaries

CAP OPERATIONS, INC. • CAP WEST VIRGINIA HOLDINGS, LLC • CAPL JKM HOLDINGS LLC • CAPL JKM PARTNERS LLC • CAPL JKM REALTY HOLDINGS LLC • CAPL JKM WHOLESALE LLC • CAPL RETAIL LLC • COBBLER’S CREEK LLC • DELG – UST I, LLC • ERICKSON OIL PRODUCTS, INC. ...

CAPL stock data

1M 1Y 5Y

Latest filings (excl ownership)

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8-K

Regulation FD Disclosure

22 May 23

8-K

CrossAmerica Partners LP Reports First Quarter 2023 Results

8 May 23

Quarterly distribution of $0.5250 per unit attributable to the first quarter of 2023

20 Apr 23

8-K

CrossAmerica Partners Enters into a New $925 Million Credit Facility

27 Feb 23

CrossAmerica Partners LP Reports Fourth Quarter and Full Year 2022 Results

27 Feb 23

8-K

Quarterly distribution of $0.5250 per unit attributable to the fourth quarter of 2022

19 Jan 23

8-K

Departure of Directors or Certain Officers

2 Dec 22

8-K

Departure of Directors or Certain Officers

25 Nov 22

Transcripts

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CAPL

Earnings call transcript

2023 Q1

9 May 23

CAPL

Earnings call transcript

2022 Q4

28 Feb 23

CAPL

Earnings call transcript

2022 Q3

8 Nov 22

CAPL

Earnings call transcript

2022 Q2

9 Aug 22

CAPL

Earnings call transcript

2022 Q1

10 May 22

CAPL

Earnings call transcript

2021 Q4

1 Mar 22

CAPL

Earnings call transcript

2021 Q3

9 Nov 21

CAPL

Earnings call transcript

2021 Q2

10 Aug 21

CAPL

Earnings call transcript

2021 Q1

11 May 21

CAPL

Earnings call transcript

2020 Q4

2 Mar 21

Latest ownership filings

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Financial summary

Financial statements Chart CAPL financial data

Quarter (USD)	Mar 23	Dec 22	Sep 22	Jun 22
Revenue
Cost of revenue
Operating income
Operating margin
Net income
Net profit margin
Cash on hand
Change in cash
Diluted EPS

Annual (USD)	Dec 22	Dec 21	Dec 20	Dec 19
Revenue
Cost of revenue
Operating income
Operating margin
Net income
Net profit margin
Cash on hand
Change in cash
Diluted EPS

Cash burn rate (est.)	Burn method: Change in cash		Burn method: Operating income		Burn method: FCF (opex + capex)
	Last Q	Avg 4Q	Last Q	Avg 4Q	Last Q	Avg 4Q
Cash on hand (at last report)	7.52 mm	7.52 mm	7.52 mm	7.52 mm	7.52 mm	7.52 mm
Cash burn (monthly)	2.85 mm	302.67 k	(no burn)	(no burn)	(no burn)	(no burn)
Cash used (since last report)	6.41 mm	681.87 k	n/a	n/a	n/a	n/a
Cash remaining	1.11 mm	6.84 mm	n/a	n/a	n/a	n/a
Runway (months of cash)	0.4	22.6	n/a	n/a	n/a	n/a

Beta Read what these cash burn values mean

Financial data from company earnings reports.

Institutional ownership, Q1 2023

CAPL institutional ownership history Ownership history

81.5% owned by funds/institutions

13F holders	Current	Prev Q	Change
Total holders	55	58	-5.2%
Opened positions	8	15	-46.7%
Closed positions	11	9	+22.2%
Increased positions	10	19	-47.4%
Reduced positions	13	6	+116.7%

13F shares	Current	Prev Q	Change
Total value	191.02 bn	173.46 bn	+10.1%
Total shares	30.93 mm	31.10 mm	-0.6%
Total puts	10.00 k	23.20 k	-56.9%
Total calls	45.00 k	47.10 k	-4.5%
Total put/call ratio	0.2	0.5	-54.9%

Largest owners	Shares	Value	Change
Alimentation Couche Tard	14.96 mm	$313.95 mm	0.0%
IVZ Invesco	5.76 mm	$123.84 bn	0.0%
John B. Reilly III	4.96 mm	$99.09 mm	0.0%
Goldman Sachs Asset Management	1.78 mm	$25.21 mm	0.0%
Clearbridge Advisors	699.34 k	$15.03 bn	0.0%
Mirae Asset Global Investments	621.43 k	$13.35 bn	-12.9%
JPM JPMorgan Chase & Co.	347.59 k	$7.47 bn	-14.5%
First Trust Advisors	189.32 k	$4.07 bn	-25.7%
GS Goldman Sachs	186.34 k	$4.00 bn	-0.4%
Raymond James Financial Services Advisors	186.01 k	$4.00 bn	+4.3%

Largest transactions	Shares	Bought/sold	Change
Mirae Asset Global Investments	621.43 k	-92.07 k	-12.9%
BX Blackstone	74.06 k	+74.06 k	NEW
First Trust Advisors	189.32 k	-65.62 k	-25.7%
JPM JPMorgan Chase & Co.	347.59 k	-58.88 k	-14.5%
MS Morgan Stanley	84.23 k	-55.18 k	-39.6%
SF Stifel Financial	26.62 k	+26.62 k	NEW
HRT Financial	0.00	-21.56 k	EXIT
Raymond James & Associates	86.68 k	+21.02 k	+32.0%
Citadel Advisors	0.00	-20.90 k	EXIT
CI Private Wealth	20.00 k	+20.00 k	NEW

Data from 13F filings, for the last complete 13F reporting period. For most recent data, click the ownership history button. Values as filed, not updated for current price. Long positions only.

Recent insider trades

CAPL insider ownership history Insider history

Date	Owner	Security	Transaction	Code	Indirect	10b5-1	$Price	#Shares	$Value	#Remaining
30 May 23	Topper Joseph V. Jr.	Common Units	Buy	Acquire P	Yes	No	18.3153	3,000	54.95 k	233,335
26 May 23	Topper Joseph V. Jr.	Common Units	Buy	Acquire P	Yes	No	18.3281	15,000	274.92 k	230,335
25 May 23	Topper Joseph V. Jr.	Common Units	Buy	Acquire P	Yes	No	18.1917	6,000	109.15 k	215,335
24 May 23	Topper Joseph V. Jr.	Common Units	Buy	Acquire P	Yes	No	18.4743	16,818	310.70 k	209,335
23 May 23	Topper Joseph V. Jr.	Common Units	Buy	Acquire P	Yes	No	18.475	66	1.22 k	192,517
23 May 23	Topper Joseph V. Jr.	Common Units	Buy	Acquire P	No	No	18.3767	13,539	248.80 k	83,695
18 May 23	Gannon Justin A.	Common Units	Buy	Acquire P	No	No	18.75	500	9.38 k	26,319
17 May 23	Gannon Justin A.	Common Units	Buy	Acquire P	No	No	18.99	1,000	18.99 k	25,819
15 May 23	Thomas E Kelso	Common Units	Buy	Acquire P	No	No	19.4258	500	9.71 k	500