CrossAmerica Partners LP reported net income of $25.2 million, an adjusted EBITDA of $37.1 million and distributable cash flow of $22.4 million in the second quarter of 2025 ending June 30.

CrossAmerica reported an increase of $12.7 million in net income for the quarter compared to the second quarter of 2024, “primarily driven by gains from asset sales, offset by a decline in Adjusted EBITDA year-over-year,” it said.

"Our second quarter results showed a meaningful improvement over the first quarter, although they remained below prior-year levels," said Charles Nifong, president and CEO of CrossAmerica. "During the quarter, we completed several asset sales, reducing debt by more than $50 million and strengthening our balance sheet. These transactions also positioned our operating portfolio for long-term performance. While overall demand remains soft, our volume and store sales outpaced industry trends, reflecting the strength of our market position."

In Q2, CrossAmerica sold 60 properties for $64.0 million in proceeds, resulting in a net gain of $29.7 million. Divestment activity during the quarter was focused on locations in the South Central and Mountain West regions of the United States, with additional targeted divestitures in the Northeast United States, it said. CrossAmerica maintained a supply relationship with substantially all of the locations divested during the quarter post sale.

In 2024, NACS Daily reported that CrossAmerica and its Lehigh Gas Wholesale Services Inc. subsidiary entered into an agreement to acquire 59 convenience stores from Applegreen Midwest and Applegreen Florida for $16.9 million. The c-stores were in Michigan, Minnesota, Wisconsin and Florida.