Company: CAPL
Filing Date: 2025-02-27
Form Type: 10-K
Source: 0000950170-25-028082
Chunk: 237

Company: CrossAmerica Partners LP
Filing Date: 2025-02-27
Form: 10-K
Item: Item 7
Chunk 237
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0.306

    $
    0.336

(a)The increase in the company operated site count from December 31, 2023 to December 31, 2024 was primarily attributable to the conversion of certain lessee dealer and commission agent sites to company operated sites.

(b)The increase in the commission agent site count was primarily attributable to the conversion of certain lessee dealer sites to commission agent sites, partially offset by the conversion of certain commission agent sites to company operated sites.

Year Ended December 31, 2024 Compared to Year Ended December 31, 2023

Gross profit increased $36 million (14%) and operating income decreased $3.2 million (3%). These results were driven by:

Gross profit

•Our motor fuel gross profit increased $12 million (9%) attributable to a volume increase of 9% due primarily to an increase in the average retail site count due to the conversion of certain lessee dealer sites to company operated and commission agent sites, partially offset by a decrease in volume in our base business.

•Our merchandise gross profit and other revenues increased $20 million (22%) and $3.7 million (23%), respectively, driven by an increase in the average company operated site count due to the conversion of certain lessee dealer and commission agent sites to company operated sites.

Operating expenses

Operating expenses increased $39 million (25%) driven by a 25% increase in the average company operated site count due to the conversion of certain lessee dealer and commission agent sites to company operated sites.

44

Wholesale

The following table highlights the results of operations and certain operating metrics of our wholesale segment. The narrative following these tables provides an analysis of the results of operations of that segment (thousands of dollars, except for the number of distribution sites and per gallon amounts):

    Year Ended December 31,

    2024

    2023

    2022

    Gross profit:

    Motor fuel gross profit
     
    $
    62,892

    $
    72,680

    $
    73,378

    Rent gross profit

    41,122

    50,873

    50,852

    Other revenues

    4,601

    5,248

    6,509

    Total gross profit

    108,615

    128,801

    130,739

    Operating expenses

    (31,754
    )

    (37