CrossAmerica Partners (NYSE:CAPL) reported a stronger first quarter of 2026, with management pointing to higher retail fuel margins, merchandise gains and expense controls as drivers of improved profitability.
On the company’s earnings call, CEO and President Maura Topper, speaking on her first call in the role, said the partnership generated $35 million of adjusted EBITDA, which she described as a record amount for the first quarter and a 45% increase from the prior-year period
Interim Chief Financial Officer Jon Benfield said adjusted EBITDA totaled $35.1 million, compared with $24.3 million in the first quarter of 2025. The partnership reported net income of $10.7 million for the quarter, compared with a net loss of $7.1 million a year earlier. Benfield said the improvement was primarily due to higher adjusted EBITDA, lower interest expense and lower impairment charges included in depreciation, amortization and accretion expense.
Retail Fuel Margins Drive Earnings Growth Topper said CrossAmerica’s retail segment gross profit rose 18% to $74.3 million from $63.2 million in the prior-year quarter. The increase was driven by stronger motor fuel gross profit, higher retail fuel margins and growth in merchandise gross profit. Retail fuel margin was 43.7 cents per gallon in the first quarter, up from 33.9 cents per gallon a year earlier.