CrossAmerica Partners LP reported a significant increase in financial performance for the second quarter of 2026, with operating revenues reaching $1.18 billion, a 23% increase from $961.9 million in the same period last year. The company’s net income for the quarter was $20.8 million, down from $25.2 million in the prior year, resulting in a diluted net income per common unit of $0.52, compared to $0.64 in the previous year. For the first half of 2026, revenues totaled $2.02 billion, an 11% increase from $1.82 billion in the first half of 2025, while net income rose to $31.5 million from $18.1 million.
The company experienced a notable increase in fuel sales, which rose by $220 million, primarily driven by a 43% increase in the average fuel selling price. However, this was partially offset by an 11% decrease in sales volume due to a reduction in base business volume and the loss of independent dealer contracts. Cost of sales also increased, reflecting higher fuel prices, which contributed to a gross profit of $112.8 million for the quarter, up 12% from $101 million in the prior year.
Operationally, CrossAmerica Partners LP has continued its strategy of optimizing its asset portfolio, resulting in the sale of 21 properties in the first half of 2026 for $15.4 million, generating a net gain of $7.4 million. The company has also focused on reducing its debt, with total debt and finance lease obligations amounting to $730.6 million as of June 30, 2026, down from $696.9 million at the end of 2025. The company’s liquidity remains strong, with $248.5 million available under its Credit Facility after accounting for debt covenant restrictions.
Looking ahead, CrossAmerica anticipates continued volatility in crude oil prices, which will impact its gross profit margins. The company plans to further evaluate its asset portfolio for potential divestitures and conversions of sites to optimize profitability. Additionally, CrossAmerica is exploring acquisition opportunities that align with its strategic goals, although the execution of such acquisitions will depend on market conditions and financing availability. The company remains committed to maintaining its distribution levels, having paid $40 million in distributions to common unitholders in the first half of 2026, consistent with the previous year.
About CrossAmerica Partners LP
CrossAmerica Partners LP is a leading distributor and retailer of motor fuels and convenience merchandise in the U.S. It operates through wholesale and retail segments, owning or leasing approximately 1,100 sites, and supplies major brands like ExxonMobil, BP, Shell, and Valero. The company generates revenue from fuel distribution, retail sales, and real estate leasing, focusing on prime locations and strategic acquisitions to maximize cash flow and distributions.
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