Filing Flows › CrossAmerica Partners LP (CAPL) › Q3 2025
CrossAmerica Partners LP (CAPL) Q3 2025 earnings results (third quarter 2025)
10-Q filed Nov 5, 2025
CrossAmerica Partners LP (CAPL) reported revenue of $972M for the third quarter 2025 (Q3 2025), -10% from a year earlier and +1% from the quarter before. Operating margin was 2.9%, net earnings $13.6M (1.4% of revenue).
CrossAmerica Partners LP, Q3 2025: revenue $972M (-10% year over year), operating margin 2.9%, net earnings $13.6M, operating cash flow $24.4M. The chart follows the revenue to costs, profit and cash.
| Q3 2025 | Amount | Q/Q | Y/Y |
|---|---|---|---|
| Revenue | $972M | +1% | -10% |
| Gross profit | $105M | +4% | -6% |
| Operating profit | $28.1M | -32% | +4% |
| Net earnings | $13.6M | -46% | +27% |
| Operating cash flow | $24.4M | +8% | -42% |
| Free cash flow | $17.7M | +64% | -48% |
What changed
Revenue was $971.8M in Q3 2025, down 10% year over year and up 1% from the previous quarter.
Gross margin was 10.8%, up 0.5 points from a year earlier. Operating profit was $28.1M, a 2.9% margin (up 0.4 points year over year). Operating expenses fell 9% while revenue fell 10%. Net earnings were $13.6M, up 27% year over year. The effective tax rate was 17.4%.
Operating cash flow was $24.4M (down 42% year over year), 179% of net earnings. Non-cash charges added back $20.0M of depreciation and amortization and $364K of share-based compensation. Working capital and other items used $9.6M. Capital expenditures of $6.7M left free cash flow of $17.7M.
Questions
What was CrossAmerica Partners LP's revenue in the third quarter 2025?
CrossAmerica Partners LP (CAPL) reported revenue of $972M for the third quarter 2025 (Q3 2025), -10% from a year earlier and +1% from the quarter before.
Was CrossAmerica Partners LP profitable in the third quarter 2025?
Operating profit was $28.1M (2.9% of revenue) and net earnings $13.6M.