CrossAmerica Partners LP Reports Earnings Results for the Third Quarter and Nine Months Ended September 30, 2023
November 08, 2023 at 06:06 am EST
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CrossAmerica Partners LP reported earnings results for the third quarter and nine months ended September 30, 2023. For the third quarter, the company reported sales was USD 1,133.03 million compared to USD 1,208.28 million a year ago. Net income was USD 12.29 million compared to USD 27.59 million a year ago. Basic earnings per share from continuing operations was USD 0.31 compared to USD 0.71 a year ago. Diluted earnings per share from continuing operations was USD 0.31 compared to USD 0.71 a year ago.
For the nine months, sales was USD 3,148.51 million compared to USD 3,638.06 million a year ago. Net income was USD 25.85 million compared to USD 46.61 million a year ago. Basic earnings per share from continuing operations was USD 0.63 compared to USD 1.2 a year ago. Diluted earnings per share from continuing operations was USD 0.63 compared to USD 1.2 a year ago.
CrossAmerica Partners LP is a wholesale distributor of motor fuels, convenience store operator, and owner and lessee of real estate used in the retail distribution of motor fuels. The Company operates through two segments: Wholesale, and Retail. The Wholesale segment includes the wholesale distribution of motor fuel to lessee dealers and independent dealers. The Retail segment includes the retail sale of motor fuel at retail sites operated by commission agents and the sale of convenience merchandise items and the retail sale of motor fuel at company operated sites. The Company distributes motor fuel on a wholesale basis to approximately 1,700 sites located in 34 states. The Company owns or leases approximately 1,100 sites, of which it operates 295 as company operated sites. The Company distributes branded motor fuel under the Exxon, Mobil, BP, Shell, Sunoco, Valero, Gulf, Citgo, Marathon, and Phillips 66 brands to its customers.