Allentown, PA, Nov. 04, 2026 (GLOBE NEWSWIRE) --

CrossAmerica Partners LP Reports Third Quarter 2026 Results

  • Reported Third Quarter of 2026 Net Income of $8.8 million, Adjusted EBITDA of $38.7 million and Distributable Cash Flow of $21.8 million compared to Net Income of $13.6 million, Adjusted EBITDA of $41.3 million and Distributable Cash Flow of $27.8 million for the Third Quarter of 2025
  • Reported Third Quarter of 2026 Gross Profit for the Retail Segment of $78.0 million compared to $80.0 million of Gross Profit for the Third Quarter of 2025 and Third Quarter of 2026 Gross Profit for the Wholesale Segment of $23.1 million compared to $24.8 million of Gross Profit for the Third Quarter of 2025
  • Leverage, as defined in the CAPL Credit Facility, was 3.72 times as of September 30, 2026, compared to 3.56 times as of September 30, 2025
  • The Distribution Coverage Ratio for the trailing twelve months ended September 30, 2026, was 1.32 times compared to 1.00 times for the comparable period of 2025
  • The Board of Directors of CrossAmerica's General Partner declared a quarterly distribution of $0.5250 per limited partner unit attributable to the Third Quarter of 2026

Allentown, PA November 4, 2026 – CrossAmerica Partners LP (NYSE: CAPL) (“CrossAmerica” or the “Partnership”), a leading wholesale fuels distributor, convenience store operator, and owner and lessor of real estate used in the retail distribution of motor fuels, today reported financial results for the third quarter ended September 30, 2026.

“While higher fuel prices pressured volumes in the third quarter, our team continued to deliver on the things we can control,” said Maura Topper, CEO and President of CrossAmerica. “Our merchandise business again delivered, with continued growth in merchandise margin percentage reflecting the strength of our convenience store operations and programs, and our focus on cost management drove lower operating expenses across the business. These results, together with solid fuel margins, keep us materially ahead of last year through the first nine months in both Adjusted EBITDA and Distributable Cash Flow.”

Third Quarter Results

Consolidated Results

Key Operating MetricsQ3 2026Q3 2025
Net Income$8.8M$13.6M
Adjusted EBITDA$38.7M$41.3M
Distributable Cash Flow$21.8M$27.8M
Distribution Coverage Ratio: Current Quarter1.09x1.39x
Distribution Coverage Ratio: Trailing 12 Months1.32x1.00x

CrossAmerica reported declines in Net Income, Adjusted EBITDA, Distributable Cash Flow and Distribution Coverage for the third quarter of 2026 compared to the third quarter of 2025. The decrease in Adjusted EBITDA was primarily driven by a decline in motor fuel volume in both the retail and wholesale segments, partially offset by an increase in merchandise gross profit in the retail segment and an overall decline in operating expenses. The decline in Net Income was primarily driven by the decrease in Adjusted EBITDA in addition to lower net gains in connection with CrossAmerica's ongoing real estate optimization effort with $7.4 million in net gains for the third quarter of 2025 compared to $2.4 million in net gains for the third quarter of 2026.

The decrease in Distributable Cash Flow and Distribution Coverage for the third quarter of 2026 was primarily driven by the decline in Adjusted EBITDA noted above in addition to increases in sustaining capital expenditures and current income tax expense, partially offset by lower cash interest expense.

Retail Segment

Key Operating MetricsQ3 2026Q3 2025
Retail segment gross profit$78.0M$80.0M
   
Retail segment motor fuel gallons distributed128.6M141.8M
Same store motor fuel gallons distributed123.2M133.1M
Retail segment motor fuel gross profit$37.6M$40.7M
Retail segment margin per gallon, before deducting credit card fees and commissions$0.404 $0.384 
   
Same store merchandise sales excluding cigarettes*$74.6M$74.4M
Merchandise gross profit*$32.8M$32.0M
Merchandise gross profit percentage* 30.3% 28.9%
   
Operating Expenses$50.5M$50.6M
Retail Sites (average for period) 549  592 

*Includes only company operated retail sites

For the third quarter of 2026, the retail segment gross profit declined 2% compared to the third quarter of 2025, primarily due to a decrease in motor fuel gross profit, partially offset by increases in merchandise and other revenue gross profit compared to the prior year.

The motor fuel gross profit for the retail segment declined $3.2 million or 8%, attributable to a 9% decrease in motor fuel volume sold for the three months ended September 30, 2026, as compared to the same period in 2025. The volume decline was due primarily to a 7% decrease in same store motor fuel gallons as well as a decrease in the average retail site count due to the sale of certain company operated and commission agent sites in connection with CrossAmerica's real estate optimization effort. This volume decline was partially offset by an increase in margin per gallon of 5%, which was primarily driven by greater volatility in crude oil prices between the two periods.

For the third quarter of 2026, CrossAmerica’s merchandise gross profit increased 2% when compared to the third quarter of 2025, despite a 7% decline in average company operated store count. Same store merchandise sales excluding cigarettes were relatively flat for the third quarter of 2026 when compared to the third quarter of 2025. Merchandise gross profit percentage increased from 28.9% for the third quarter of 2025 to 30.3% for the third quarter of 2026 due to improved merchandise sales mix towards higher food margin categories as well as improved category level merchandise margins.

Operating expenses for the retail segment declined slightly, $0.2 million dollars, with same store retail segment operating expenses increasing 1%, offset by the decline in the average retail segment site count.

Wholesale Segment

Key Operating MetricsQ3 2026Q3 2025
Wholesale segment gross profit$23.1M$24.8M
Wholesale motor fuel gallons distributed162.8M177.7M
Average wholesale gross profit per gallon$0.088$0.088

During the third quarter of 2026, CrossAmerica’s wholesale segment gross profit declined 7% when compared to the third quarter of 2025. The decrease was primarily driven by a 9% or $1.4 million decline in motor fuel gross profit.

The decrease in motor fuel gross profit for the third quarter of 2026 when compared to the third quarter of 2025 was driven by an 8% decline in wholesale volume distributed. The decline in volume was primarily due to a reduction in volume in the base business as well as the net loss of independent dealer contracts. Operating expenses declined $1.1 million or 16% primarily due to a decrease in average controlled site count due to CrossAmerica's real estate optimization effort.

Investment and Real Estate Activity

During the three months ended September 30, 2026, CrossAmerica sold 15 sites for $10.6 million in proceeds, resulting in a net gain of $2.9 million. For the nine months ended September 30, 2026, CrossAmerica sold 36 sites for $26.0 million in proceeds, resulting in a net gain of $10.3 million. CrossAmerica maintained a supply relationship post sale with substantially all of the locations divested during the periods.

Also during the third quarter of 2026, CrossAmerica invested $7.2 million in capital expenditures across its portfolio of locations. Growth capital spending totaled $1.9 million during the quarter and $6.4 million year to date, with spending focused on company operated retail location renovations, including expanded food offerings. Sustaining capital expenditures totaled $5.3 million in the quarter and $11.6 million year to date, with investment focused on CrossAmerica's company operated portfolio.

Liquidity and Capital Resources

As of September 30, 2026, CrossAmerica had $674.5 million outstanding under its Credit Facility. As of October 30, 2026, after taking into consideration debt covenant restrictions, approximately $237 million was available for future borrowings under the Credit Facility. Leverage, as defined in the Credit Facility, was 3.72 times as of September 30, 2026, compared to 3.56 times as of September 30, 2025. As of September 30, 2026, CrossAmerica was in compliance with its financial covenants under the Credit Facility.

Distributions

On October 21, 2026, the Board of the Directors of CrossAmerica’s General Partner (“Board”) declared a quarterly distribution of $0.5250 per limited partner unit attributable to the third quarter of 2026. As previously announced, the distribution will be paid on November 12, 2026, to all unitholders of record as of November 2, 2026. The amount and timing of any future distributions is subject to the discretion of the Board as provided in CrossAmerica’s Partnership Agreement.

Conference Call

The Partnership will host a conference call on November 5, 2026, at 9:00 a.m. Eastern Time to discuss the third quarter of 2026 earnings results. The conference call numbers are 800-717-1738 or 646-307-1865 and the passcode for both is 301276. An audio webcast of the conference call and the related earnings materials, including reconciliations of any non-GAAP financial measures to GAAP financial measures and any other applicable disclosures, will be available on that same day on the investor section of the CrossAmerica website (www.crossamericapartners.com). After the conference call, an archive of the webcast will be available on the investor section of the CrossAmerica site at https://caplp.gcs-web.com/webcasts-presentations within 24 hours after the call for a period of sixty days.

Non-GAAP Measures and Same Store Metrics

Non-GAAP measures used in this release include EBITDA, Adjusted EBITDA, Distributable Cash Flow and Distribution Coverage Ratio. These Non-GAAP measures are further described and reconciled to their most directly comparable GAAP measures in the Supplemental Disclosure Regarding Non-GAAP Financial Measures section of this release.

Same store fuel volume and same store merchandise sales include aggregated individual store results for all stores that had fuel volume or merchandise sales and that were operated in the same class of trade for all months for both periods. Same store merchandise sales excludes other revenues such as lottery commissions and car wash sales.

CROSSAMERICA PARTNERS LP
CONSOLIDATED BALANCE SHEETS
(Thousands of Dollars, except unit data)
(Unaudited)

  September 30,  December 31, 
  2026  2025 
ASSETS      
Current assets:      
Cash and cash equivalents $7,830  $3,137 
Accounts receivable, net of allowances of $319 and $635, respectively  31,945   28,566 
Accounts receivable from related parties  435   687 
Inventory  71,144   59,610 
Assets held for sale  8,465   9,690 
Current portion of interest rate swap contracts  4,032   801 
Other current assets  8,895   8,590 
Total current assets  132,746   111,081 
Property and equipment, net  567,104   547,686 
Right-of-use assets, net  101,107   121,636 
Intangible assets, net  50,836   61,638 
Goodwill  99,409   99,409 
Deferred tax assets  —   760 
Interest rate swap contracts, less current portion  3,084   325 
Other assets  21,532   22,199 
Total assets $975,818  $964,734 
       
LIABILITIES AND EQUITY      
Current liabilities:      
Current portion of debt and finance lease obligations $9,735  $3,465 
Current portion of operating lease obligations  24,559   29,008 
Accounts payable  81,609   63,413 
Accounts payable to related parties  7,704   6,536 
Current portion of interest rate swap contracts  7   697 
Accrued expenses and other current liabilities  27,500   27,378 
Motor fuel and sales taxes payable  18,094   19,013 
Total current liabilities  169,208   149,510 
Debt and finance lease obligations, less current portion  712,579   687,187 
Operating lease obligations, less current portion  80,299   96,974 
Deferred tax liabilities, net  9,576   7,409 
Asset retirement obligations  43,797   45,014 
Interest rate swap contracts, less current portion  —   1,390 
Other long-term liabilities  45,071   49,289 
Total liabilities  1,060,530   1,036,773 
       
Commitments and contingencies (Note 9)      
       
Preferred membership interests  30,874   30,289 
       
Equity:      
Common units— 38,173,255 and 38,135,078 units issued and
outstanding at September 30, 2026 and December 31, 2025, respectively		  (122,625)  (101,280)
Accumulated other comprehensive income (loss)  7,039   (1,048)
Total deficit  (115,586)  (102,328)
Total liabilities and equity $975,818  $964,734 

CROSSAMERICA PARTNERS LP
CONSOLIDATED STATEMENTS OF OPERATIONS
(Thousands of Dollars, Except Unit and Per Unit Amounts)
(Unaudited)

  Three Months Ended September 30,  Nine Months Ended September 30, 
  2026  2025  2026  2025 
Operating revenues (a) $1,194,575  $971,847  $3,215,422  $2,796,247 
Cost of sales (b)  1,093,449   867,077   2,903,886   2,500,671 
Gross profit  101,126   104,770   311,536   295,576 
             
Operating expenses:            
Operating expenses (c)  56,274   57,541   167,735   174,364 
General and administrative expenses  6,713   6,496   20,013   20,745 
Depreciation, amortization and accretion expense  16,843   20,033   50,673   69,671 
Total operating expenses  79,830   84,070   238,421   264,780 
Gain on dispositions and lease terminations, net  2,415   7,387   9,618   40,789 
Operating income  23,711   28,087   82,733   71,585 
Other income, net  238   152   607   418 
Interest expense  (12,176)  (11,786)  (34,268)  (37,199)
Income before income taxes  11,773   16,453   49,072   34,804 
Income tax expense  3,007   2,865   8,835   3,163 
Net income  8,766   13,588   40,237   31,641 
Accretion of preferred membership interests  692   696   2,096   2,041 
Net income available to limited partners $8,074  $12,892  $38,141  $29,600 
             
Net income per common unit            
Basic $0.21  $0.34  $1.00  $0.78 
Diluted $0.21  $0.34  $1.00  $0.77 
             
Weighted-average common units:            
Basic  38,168,524   38,112,342   38,155,235   38,094,754 
Diluted  38,331,411   38,268,579   38,317,542   38,254,986 
             
Supplemental information:            
(a) includes excise taxes of: $75,016  $83,041  $215,741  $239,295 
(a) includes rent income of:  14,193   15,167   43,419   47,828 
(b) excludes depreciation, amortization and accretion            
(b) includes rent expense of:  3,690   4,834   11,573   14,652 
(c) includes rent expense of:  4,548   4,732   13,599   13,974 

CROSSAMERICA PARTNERS LP
CONSOLIDATED STATEMENTS OF CASH FLOWS
(Thousands of Dollars)
(Unaudited)

  Nine Months Ended September 30, 
  2026  2025 
Cash flows from operating activities:      
Net income $40,237  $31,641 
Adjustments to reconcile net income to net cash provided by operating activities: 
Depreciation, amortization and accretion expense  50,673   69,671 
Amortization of deferred financing costs  1,497   1,453 
Credit loss expense  23   — 
Deferred income tax expense (benefit)  2,927   (2,918)
Equity-based employee and director compensation expense  1,102   1,353 
Gain on dispositions and lease terminations, net  (9,618)  (40,789)
Changes in operating assets and liabilities, net of acquisitions  (1,268)  1,654 
Net cash provided by operating activities  85,573   62,065 
       
Cash flows from investing activities:      
Principal payments received on notes receivable  146   92 
Proceeds from sale of assets  26,768   94,788 
Capital expenditures  (18,056)  (28,657)
Cash paid in connection with acquisitions, net of cash acquired  (1,800)  — 
Net cash provided by investing activities  7,058   66,223 
       
Cash flows from financing activities:      
Borrowings under the Credit Facility  78,000   49,000 
Repayments on the Credit Facility  (95,796)  (111,000)
Payments of finance lease obligations  (2,829)  (2,430)
Payments of deferred financing costs  (5,500)  — 
Distributions paid on distribution equivalent rights  (208)  (218)
Distributions paid to preferred membership interests  (1,512)  (1,261)
Distributions paid on common units  (60,093)  (59,994)
Net cash used in financing activities  (87,938)  (125,903)
Net increase in cash and cash equivalents  4,693   2,385 
       
Cash and cash equivalents at beginning of period  3,137   3,381 
Cash and cash equivalents at end of period $7,830  $5,766 

Segment Results

Retail

The following table highlights the results of operations and certain operating metrics of the Retail segment (in thousands, except for the number of retail sites and per gallon amounts):

  Three Months Ended September 30,  Nine Months Ended September 30, 
  2026  2025  2026  2025 
Gross profit:            
Motor fuel $37,550  $40,732  $123,871  $110,701 
Merchandise  32,752   31,981   90,730   87,400 
Rent  2,774   2,487   8,209   7,322 
Other revenue  4,931   4,785   15,190   13,848 
Total gross profit  78,007   79,985   238,000   219,271 
Operating expenses  (50,481)  (50,640)  (149,175)  (153,172)
Operating income $27,526  $29,345  $88,825  $66,099 
             
Retail sites (end of period):            
Company operated retail sites (a)  327   353   327   353 
Commission agents (b)  219   233   219   233 
Total retail sites  546   586   546   586 
             
Total retail segment statistics:            
Volume of gallons sold  128,586   141,806   370,304   410,022 
Same store total system gallons sold(c)  123,182   133,082   339,191   371,660 
Average retail fuel sites  549   592   562   597 
Margin per gallon, before deducting credit card fees
and commissions		 $0.404  $0.384  $0.444  $0.365 
             
Company operated site statistics:            
Average retail fuel sites  330   356   337   363 
Same store fuel volume(c)  90,626   95,276   245,762   260,862 
Margin per gallon, before deducting credit card fees $0.409  $0.402  $0.459  $0.391 
Same store merchandise sales(c) $101,819  $102,618  $276,412  $276,356 
Same store merchandise sales excluding cigarettes(c) $74,627  $74,351  $200,741  $198,812 
Merchandise gross profit percentage  30.3%  28.9%  29.8%  28.4%
             
Commission site statistics:            
Average retail fuel sites  219   236   225   234 
Margin per gallon, before deducting credit card fees
and commissions		 $0.390  $0.340  $0.404  $0.306 

(a) The decrease in the company operated site count was primarily attributable to the sale of certain company operated sites in connection with CrossAmerica's real estate optimization effort.
(b) The decrease in the commission agent site count was primarily attributable to the sale of certain commission agent sites in connection with CrossAmerica's real estate optimization effort.
(c) Same store fuel volume and same store merchandise sales include aggregated individual store results for all stores that had fuel volume or merchandise sales and that were operated in the same class of trade for all months for both periods. Same store merchandise sales excludes other revenues such as lottery commissions and car wash sales.

Wholesale

The following table highlights the results of operations and certain operating metrics of the Wholesale segment (thousands of dollars, except for the number of distribution sites and per gallon amounts):

  Three Months Ended September 30,  Nine Months Ended September 30, 
  2026  2025  2026  2025 
Gross profit:            
Motor fuel gross profit $14,367  $15,718  $46,621  $46,647 
Rent gross profit  7,729   7,846   23,637   25,854 
Other revenues  1,023   1,221   3,278   3,804 
Total gross profit  23,119   24,785   73,536   76,305 
Operating expenses  (5,793)  (6,901)  (18,560)  (21,192)
Operating income $17,326  $17,884  $54,976  $55,113 
             
Motor fuel distribution sites (end of period): (a)            
Independent dealers (b)  661   645   661   645 
Lessee dealers (c)  310   343   310   343 
Total motor fuel distribution sites  971   988   971   988 
             
Average motor fuel distribution sites  977   997   982   1,013 
             
Volume of gallons distributed  162,775   177,662   476,639   519,821 
             
Margin per gallon $0.088  $0.088  $0.098  $0.090 

(a) In addition, CrossAmerica distributed motor fuel to sub-wholesalers who distributed to additional sites.
(b) The increase in the independent dealer site count was primarily attributable to the sale of certain lessee dealer, company operated and commission agent sites but with continued fuel supply, partially offset by the net loss of independent dealer contracts.
(c) The decrease in the lessee dealer site count was primarily attributable to the sale of certain lessee dealer sites in connection with CrossAmerica's real estate optimization effort (generally with continued fuel supply, thereby converting the site to an independent dealer site).

Supplemental Disclosure Regarding Non-GAAP Financial Measures

CrossAmerica uses the non-GAAP financial measures EBITDA, Adjusted EBITDA, Distributable Cash Flow and Distribution Coverage Ratio. EBITDA represents net income (loss) before deducting interest expense, income taxes and depreciation, amortization and accretion (which includes certain impairment charges). Adjusted EBITDA represents EBITDA as further adjusted to exclude equity-based compensation expense, gains or losses on dispositions and lease terminations, net and certain discrete acquisition-related costs, such as legal and other professional fees, separation benefit costs and certain other discrete non-cash items arising from purchase accounting. Distributable Cash Flow represents Adjusted EBITDA less cash interest expense, sustaining capital expenditures and current income tax expense. The Distribution Coverage Ratio is computed by dividing Distributable Cash Flow by distributions paid on common units.

EBITDA, Adjusted EBITDA, Distributable Cash Flow and Distribution Coverage Ratio are used as supplemental financial measures by management and by external users of our financial statements, such as investors and lenders. EBITDA and Adjusted EBITDA are used to assess CrossAmerica’s financial performance without regard to financing methods, capital structure or income taxes and the ability to incur and service debt and to fund capital expenditures. In addition, Adjusted EBITDA is used to assess the operating performance of the Partnership’s business on a consistent basis by excluding the impact of items which do not result directly from the wholesale distribution of motor fuel, the leasing of real property, or the day-to-day operations of CrossAmerica’s retail site activities. EBITDA, Adjusted EBITDA, Distributable Cash Flow and Distribution Coverage Ratio are also used to assess the ability to generate cash sufficient to make distributions to CrossAmerica’s unitholders.

CrossAmerica believes the presentation of EBITDA, Adjusted EBITDA, Distributable Cash Flow and Distribution Coverage Ratio provides useful information to investors in assessing the financial condition and results of operations. EBITDA, Adjusted EBITDA, Distributable Cash Flow and Distribution Coverage Ratio should not be considered alternatives to net income or any other measure of financial performance or liquidity presented in accordance with U.S. GAAP. EBITDA, Adjusted EBITDA, Distributable Cash Flow and Distribution Coverage Ratio have important limitations as analytical tools because they exclude some but not all items that affect net income. Additionally, because EBITDA, Adjusted EBITDA, Distributable Cash Flow and Distribution Coverage Ratio may be defined differently by other companies in the industry, CrossAmerica’s definitions may not be comparable to similarly titled measures of other companies, thereby diminishing their utility.

The following table presents reconciliations of EBITDA, Adjusted EBITDA, and Distributable Cash Flow to net income (loss), the most directly comparable U.S. GAAP financial measure, for each of the periods indicated (in thousands, except for Distribution Coverage Ratio):

  Three Months Ended September 30,  Nine Months Ended September 30, 
  2026  2025  2026  2025 
Net income $8,766  $13,588  $40,237  $31,641 
Interest expense  12,176   11,786   34,268   37,199 
Income tax expense  3,007   2,865   8,835   3,163 
Depreciation, amortization and accretion expense  16,843   20,033   50,673   69,671 
EBITDA  40,792   48,272   134,013   141,674 
Equity-based employee and director compensation expense  314   364   1,102   1,353 
Gain on dispositions and lease terminations, net (a)  (2,415)  (7,387)  (9,618)  (40,789)
Acquisition-related costs (b)  14   60   58   423 
Adjusted EBITDA  38,705   41,309   125,555   102,661 
Cash interest expense  (10,708)  (11,301)  (31,831)  (35,745)
Sustaining capital expenditures (c)  (5,311)  (1,853)  (11,613)  (7,124)
Current income tax expense (d)  (849)  (382)  (5,191)  (528)
Distributable Cash Flow $21,837  $27,773  $76,920  $59,264 
Distributions paid on common units  20,041   20,012   60,093   59,994 
Distribution Coverage Ratio 1.09x  1.39x  1.28x  0.99x 

(a) Primarily includes net gains in connection with CrossAmerica's ongoing real estate optimization effort of $2.9 million and $7.4 million for the three months ended September 30, 2026, and 2025, and $10.3 million and $42.5 million for the nine months ended September 30, 2026, and 2025, respectively.
(b) Relates to certain acquisition-related costs, such as legal and other professional fees, separation benefit costs and purchase accounting adjustments associated with recent acquisitions.
(c) Under the Partnership Agreement, sustaining capital expenditures are capital expenditures made to maintain CrossAmerica's long-term operating income or operating capacity. Examples of sustaining capital expenditures are those made to maintain existing contract volumes or to maintain the sites in conditions suitable to operate or lease, such as parking lot or roof replacement/renovation, or to replace equipment required to operate the existing business.

(d) Excludes current income tax expense incurred on the sales of sites.

About CrossAmerica Partners LP

CrossAmerica Partners LP is a leading wholesale distributor of motor fuels, convenience store operator, and owner and lessee 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 1,500 locations and owns or leases approximately 900 sites. With a geographic footprint covering 34 states, the Partnership has well-established relationships with several major oil brands, including ExxonMobil, BP, Shell, Marathon, Valero, Phillips 66 and other major brands. CrossAmerica Partners LP ranks as one of ExxonMobil’s largest distributors by fuel volume in the United States and in the top 10 for additional brands. For additional information, please visit www.crossamericapartners.com.

Contact

Investor Relations: Randy Palmer, rpalmer@caplp.com or 610-625-8000

Cautionary Statement Regarding Forward-Looking Statements

Statements contained in this release that state the Partnership’s or management’s expectations or predictions of the future are forward-looking statements. The words “believe,” “expect,” “should,” “intends,” “estimates,” “target” and other similar expressions identify forward-looking statements. It is important to note that actual results could differ materially from those projected in such forward-looking statements. For more information concerning factors that could cause actual results to differ from those expressed or forecasted, see CrossAmerica’s Form 10-K or Forms 10-Q filed with the Securities and Exchange Commission, and available on CrossAmerica’s website at www.crossamericapartners.com. The Partnership undertakes no obligation to publicly update or revise any statements in this release, whether as a result of new information, future events or otherwise.