CrossAmerica Partners LP announces a quarterly distribution of $0.5250 per unit for Q4 2024, payable February 13, 2025.
Quiver AI Summary
CrossAmerica Partners LP has announced a quarterly distribution of $0.5250 per unit for the fourth quarter of 2024, amounting to an annualized rate of $2.10 per unit. This distribution will be paid on February 13, 2025, to unitholders recorded by February 3, 2025. The company plans to discuss its fourth quarter and full year 2024 earnings in a conference call on February 27. CrossAmerica, established in 2012, operates as a major wholesale distributor of motor fuels and convenience store operator, serving around 1,600 locations across 34 states and working with prominent oil brands. The release also contains forward-looking statements regarding expectations for the future, noting that actual results may differ.
Potential Positives
- CrossAmerica Partners LP is maintaining its quarterly distribution at $0.5250 per unit, indicating financial stability and a commitment to returning value to its unitholders.
- The distribution is annualized at $2.10 per unit, providing a clear financial benchmark for investors and potentially attracting more investment interest.
- The planned conference call on February 27, 2025, to discuss fourth quarter and full year 2024 earnings results allows for transparency and engagement with stakeholders.
Potential Negatives
- The press release highlights a maintained distribution of $0.5250 per unit, which may indicate stagnation in growth or profitability if this rate is perceived as less favorable compared to prior periods or to market expectations.
- The announcement of a scheduled earnings results conference call could imply that the company may have significant issues to address, raising concerns among investors about performance transparency.
- The forward-looking statements caution that actual results could differ materially from projections, suggesting potential volatility or uncertainty in the company's future performance.
FAQ
What is the quarterly distribution for CrossAmerica Partners in Q4 2024?
The quarterly distribution is $0.5250 per unit, annualized to $2.10 per unit.
When will the distribution be payable to unitholders?
The distribution is payable on February 13, 2025, to unitholders of record on February 3, 2025.
What are the details for the earnings conference call?
The conference call will be held on February 27, 2025, at 9:00 a.m. Eastern Time.
Who owns CrossAmerica Partners LP?
The general partner, CrossAmerica GP LLC, is controlled by Joseph V. Topper, Jr., the founder of CrossAmerica Partners.
How many locations does CrossAmerica Partners serve?
CrossAmerica Partners serves approximately 1,600 locations across 34 states in the U.S.
Disclaimer: This is an AI-generated summary of a press release distributed by GlobeNewswire. The model used to summarize this release may make mistakes. See the full release here.
$CAPL Hedge Fund Activity
We have seen 23 institutional investors add shares of $CAPL stock to their portfolio, and 17 decrease their positions in their most recent quarter.
Here are some of the largest recent moves:
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Full Release
Allentown, PA, Jan. 22, 2025 (GLOBE NEWSWIRE) --
CrossAmerica Partners LP Maintains Quarterly Distribution
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Quarterly distribution of $0.5250 per unit attributable to the fourth quarter of 2024
ALLENTOWN, PA (January 22, 2025) – CrossAmerica Partners LP (NYSE: CAPL) announced today that the Board of Directors of its general partner has approved a quarterly distribution of $0.5250 per unit attributable to the fourth quarter of 2024 (annualized $2.10 per unit). The distribution attributable to the fourth quarter is payable on February 13, 2025, to all unitholders of record on February 3, 2025.
CrossAmerica will host a conference call on February 27 th at 9:00 a.m. Eastern Time to discuss fourth quarter/full year 2024 earnings results, which will be released after the market closes on Wednesday, February 26.
About CrossAmerica Partners LP
CrossAmerica Partners is a leading wholesale distributor of motor fuels, convenience store operator, and owner and lessor of real estate used in the retail distribution of motor fuels. Its general partner, CrossAmerica GP LLC, is indirectly owned and controlled by entities affiliated with Joseph V. Topper, Jr., the founder of CrossAmerica Partners and a member of the board of the general partner since 2012. Formed in 2012, CrossAmerica Partners LP is a distributor of branded and unbranded petroleum for motor vehicles in the United States and distributes fuel to approximately 1,600 locations and owns or leases approximately 1,100 sites. With a geographic footprint covering 34 states, the Partnership has well-established relationships with several major oil brands, including ExxonMobil, BP, Shell, Marathon, Valero, Phillips 66 and other major brands. CrossAmerica Partners ranks as one of ExxonMobil's largest distributors by fuel volume in the United States and in the top 10 for additional brands. For additional information, please visit www.crossamericapartners.com .
Forward Looking Statement
Statements contained in this release that state the Partnership’s or management's expectations or predictions of the future are forward-looking statements. The words "believe," "expect," "should," "intends," "estimates," "target," "plan" and other similar expressions identify forward-looking statements. It is important to note that actual results could differ materially from those projected in such forward-looking statements. For more information concerning factors that could cause actual results to differ from those expressed or forecasted, see CrossAmerica's Forms 10-Q or Form 10-K filed with the Securities and Exchange Commission and available on CrossAmerica's website at www.crossamericapartners.com . The Partnership undertakes no obligation to publicly update or revise any statements in this release, whether as a result of new information, future events or otherwise.
Note to Non-United States Investors: This release is intended to be a qualified notice under Treasury Regulation Section 1.1446-4. Brokers and nominees should treat one hundred percent (100%) of CrossAmerica Partners LP’s distributions to non-U.S. investors as attributable to income that is effectively connected with a United States trade or business. Accordingly, CrossAmerica Partners LP’s distributions to non-U.S. investors are subject to federal income tax withholding at the highest applicable effective tax rate.
Contact – Randy Palmer, [email protected] or 610-625-8000