Crossamerica Partners LP
crossamericapartners.comWhat Do They Do?
Sells motor fuel and convenience goods at retail sites to end customers, and distributes motor fuel to independent and lessee dealers while leasing sites to some dealers.
10-K for FY2025, filed Feb 25, 2026The retail segment includes the sale of convenience merchandise at company operated sites and the retail sale of motor fuel at company…View ↗
We own or lease the property, operate the retail site and retain all profits from motor fuel and retail site operations.View ↗
The wholesale segment includes the wholesale distribution of motor fuel to lessee dealers and independent dealers. We have exclusive motor…View ↗
We own or lease the property and then lease or sublease the site to a dealer.View ↗
How Do They Make Money?
Retail customers pay for fuel and convenience goods when sold; wholesale dealers pay for fuel when it is delivered. Tenants pay rent over the lease term.
10-K for FY2025, filed Feb 25, 2026Revenues from the delivery of motor fuel are recorded at the time of delivery to our customers, by which time the price is fixed, title to…View ↗
Revenues from the sale of convenience store products are recognized at the time of sale to the customer. LGWS and Joe’s Kwik Marts’…View ↗
Revenues from leasing arrangements for which we are the lessor are recognized ratably over the term of the underlying lease.View ↗
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10-K for FY2025, filed Feb 25, 2026
FY2025 revenue by reportable segment ↗
$3.7B
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10-K for FY2025, filed Feb 25, 2026
$3.7B ↗
| Segment | Share | Revenue | How money arrives |
|---|---|---|---|
|
Wholesale
Sold outright
10-K for FY2025, filed Feb 25, 2026 |
43%
FY2022: 54%
|
Wholesale, FY2025
$1.6B Sources
|
Sold outright |
|
Retail
Sold outright
10-K for FY2025, filed Feb 25, 2026 |
57%
FY2022: 46%
|
Retail, FY2025
$2.1B Sources
|
Sold outright |
Who Are Their Customers?
Independent dealers contract for fuel; lessee dealers lease sites and buy fuel under supply agreements. Retail customers buy fuel and convenience goods at company-operated sites.
10-K for FY2025, filed Feb 25, 2026The retail segment includes the sale of convenience merchandise at company operated sites and the retail sale of motor fuel at company…View ↗
The wholesale segment includes the wholesale distribution of motor fuel to lessee dealers and independent dealers. We have exclusive motor…View ↗
We contract to exclusively distribute motor fuel to the independent dealer at rack-based pricing or, in some cases, DTW.View ↗
Under our distribution contracts, we agree to supply a particular branded motor fuel or unbranded motor fuel to a site or group of sites…View ↗
We own or lease the property and then lease or sublease the site to a dealer.View ↗
Under our distribution contracts, we agree to supply a particular branded motor fuel or unbranded motor fuel to a site or group of sites…View ↗
Do Revenues Turn Into Profits?
Yes. It kept 1 cent of every revenue dollar as net income in FY2025 and turned 2 cents into free cash flow.
10-K for FY2025, filed Feb 25, 2026
$97.6MView ↗
10-K for FY2025, filed Feb 25, 2026
$41.8MView ↗
10-K for FY2025, filed Feb 25, 2026
$55.8MView ↗
How Are They Changing?
10-Q for Q2 FY2026, filed Aug 5, 2026
Open tableView ↗
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Jul 21, 2026
Jonathan Benfield was appointed chief financial officer
He had served as interim chief financial officer and chief accounting officer.
Sources
8-K, filed Jul 21, 2026
On July 20, 2026, the Board of Directors (the “Board”) of CrossAmerica GP LLC, the general partner (the “General Partner”) of CrossAmerica…View ↗
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Mar 2, 2026
Maura Topper became CEO as Charles Nifong left the role
Nifong also left his board role and moved to Dunne Manning's executive management team.
Sources
8-K, filed Mar 2, 2026
On March 2, 2026, the Board of Directors (the “Board”) of CrossAmerica GP LLC, the general partner (the “General Partner”) of CrossAmerica…View ↗
Flat. Revenue was $3.7B in FY2025, about the same as the $3.6B of FY2021.
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