Exhibit 99.1

CrossAmerica Partners LP Reports Fourth Quarter and Full Year 2024 Results

Allentown, PA February 26, 2025 – CrossAmerica Partners LP (NYSE: CAPL) (“CrossAmerica” or the “Partnership”), a leading wholesale fuels distributor, convenience store operator, and owner and lessor of real estate used in the retail distribution of motor fuels, today reported financial results for the fourth quarter and full year ended December 31, 2024.

"We delivered a solid fourth quarter, with growth in our same-store retail gallons and sales, though our financial performance did not match the record levels of the prior year," said Charles Nifong, President & CEO of CrossAmerica. "Throughout the year, we made significant progress on our strategic goal of converting sites to our retail class of trade, while also successfully divesting select locations to strengthen our long-term financial and competitive position. While our full-year results were impacted by a challenging first quarter and inflationary pressures on our core retail customers, we remain confident in the strength of our business, the execution of our strategy, and the foundation we have built for future growth."

Fourth Quarter and Full Year Results

Consolidated Results

CrossAmerica reported declines in Adjusted EBITDA, Distributable Cash Flow and its Distribution Coverage Ratio for the fourth quarter 2024 compared to the historically strong results of the fourth quarter 2023. The decline was primarily driven by a decrease in motor fuel margin per gallon in the both the retail and wholesale segments and an increase in operating expenses due to the conversion of certain lessee dealer sites to company operated and commission agent sites. This was partially offset by an increase in merchandise gross profit in the retail segment.

For the full year 2024, CrossAmerica reported declines in Net Income, Adjusted EBITDA, Distributable Cash Flow and its Distribution Coverage Ratio when compared to the full year 2023 primarily due to an increase in operating expenses in the retail segment due to the conversion of certain lessee dealer sites to company operated and commission agent sites. This was partially offset by an increase in motor fuel and merchandise gross profit in the retail segment. The year-over-year decline in Net Income, Distributable Cash Flow and Distribution Coverage was primarily driven by the decline in Adjusted EBITDA noted above in addition to an $8.6 million increase in interest expense due to the termination of certain favorable interest rate swaps at the end of the first quarter 2024.

Retail Segment

*Includes only company operated retail sites

For the fourth quarter 2024, the retail segment generated a 9% increase in gross profit compared to the fourth quarter 2023. The retail segment average site count was approximately 22% higher during the fourth quarter 2024 compared to the fourth quarter 2023, primarily due to an increase in the company operated site count due to the conversion of certain lessee dealer and commission agent sites to company operated sites. The segment site count increase was the primary driver in a 27% increase in merchandise gross profit and a 14% increase in motor fuel gallons distributed. These increases were offset by a 9% decrease in fuel margin per gallon and an increase in operating expenses, with the latter due to the increased segment site count during the quarter compared to the prior year.

Same store retail segment fuel volume for the fourth quarter 2024 increased 2% from 117.5 million gallons during the fourth quarter 2023 to 119.9 million gallons.

Same store merchandise sales excluding cigarettes increased 2% for the fourth quarter 2024 when compared to the fourth quarter 2023. Merchandise gross profit percentage increased from 28.2% for the fourth quarter 2023 to 28.4% for the fourth quarter 2024.

For the full year 2024, CrossAmerica's retail segment generated a 14% increase in gross profit when compared to the full year 2023. The increase was primarily due to an increase in merchandise (+22%) and other revenue (+23%). Operating expenses increased $39.5 million or 25% for the full year 2024 primarily due to a 25% increase in the average company operated store count.

The retail segment sold 554.5 million of retail fuel gallons, which was an increase of 9% when compared to the full year 2023. The increase was primarily driven by the site count increase stemming from the conversion of certain lessee dealer sites to company operated and commission sites. The average fuel margin per gallon for the retail segment was relatively flat during the full year 2024 compared to the full year 2023, which combined with the increase in retail fuel gallons resulted in a 9% increase in motor fuel gross profit for the full year 2024. Same store retail segment fuel volume for the full year 2024 was 449.3 million gallons, a slight decrease from the 453.8 million same store gallons for the full year 2023.

For the full year 2024, CrossAmerica’s merchandise gross profit and other revenue increased $23.8 million or 23% when compared to the full year 2023. The full year increase was primarily driven by an increase in the company operated site count due to the conversion of certain lessee dealer and commission agent sites to company operated sites, in addition to an increase in sales and margin percentage in CrossAmerica's base business. Same store merchandise sales excluding cigarettes decreased 1% for the full year 2024 when compared to the full year 2023. For the twelve months ended December 31, 2024, the merchandise gross profit percentage decreased to 28.2% from 28.4% for the full year 2023.

Wholesale Segment

During the fourth quarter 2024, CrossAmerica’s wholesale segment gross profit decreased 22% compared to the fourth quarter 2023. This was driven by a decline in motor fuel and rent gross profit primarily due to the conversion of certain lessee dealer sites to company operated and commission agent sites and a net loss of independent dealer contracts. During the fourth quarter 2024, the total average site count in the wholesale segment during the fourth quarter 2024 declined 14% compared to the fourth quarter 2023, including a 24% decline in lessee dealer locations, primarily due to the conversion of sites to the retail class of trade. The motor fuel gross profit decline of 23% was driven by a 12% decrease in wholesale volume distributed and a 13% decline in margin per gallon, with predominately all of the wholesale volume decline attributable to the conversion of wholesale locations to retail locations and the associated volume for these locations is now reflected in CrossAmerica’s retail segment. The decline in margin per gallon was primarily driven by the relative movements of crude oil prices in the two periods.

For the full year 2024, the wholesale segment's gross profit declined 16% from $128.8 million in 2023 to $108.6 million for the full year 2024. Similar to the fourth quarter, this was driven by a decline in motor fuel and rent gross profit primarily due to the conversion of certain lessee dealer sites to company operated and commission agent sites and a net loss of independent dealer contracts. Total average segment site count declined 11% year-over-year, including a 24% decline in lessee dealer locations, primarily due to the previously mentioned conversion to the retail class of trade. The motor fuel gross profit decline of 13% was driven by a 12% decrease in wholesale volume distributed and a 1% decline in margin per gallon, with predominately all of the wholesale volume decline attributable to the conversion of wholesale locations to retail locations and the associated volume for these locations is now reflected in CrossAmerica’s retail segment. The slight decline in margin per gallon was driven by the relative movements of crude oil prices during the period.

Divestment Activity

During the three months ended December 31, 2024, CrossAmerica sold eleven sites for $17.3 million in proceeds, resulting in a net gain of $11.6 million. For the twelve months ended December 31, 2024, CrossAmerica sold thirty properties for $36.3 million in proceeds, resulting in a net gain of $23.3 million. These sales are part of CrossAmerica's ongoing real estate rationalization and class of trade optimization efforts.

Liquidity and Capital Resources

As of December 31, 2024, CrossAmerica had $767.5 million outstanding under its CAPL Credit Facility. As of December 31, 2024, after taking into consideration debt covenant restrictions, approximately $68.9 million was available for future borrowings under the CAPL Credit Facility. Leverage, as defined in the CAPL Credit Facility, was 4.36 times as of December 31, 2024, compared to 4.21 times as of December 31, 2023. As of December 31, 2024, CrossAmerica was in compliance with its financial covenants under the credit facility.

Distributions

On January 22, 2025, the Board of the Directors of CrossAmerica’s General Partner (“Board”) declared a quarterly distribution of $0.5250 per limited partner unit attributable to the fourth quarter 2024. As previously announced, the distribution was paid on February 13, 2025, to all unitholders of record as of February 3, 2025. The amount and timing of any future distributions is subject to the discretion of the Board as provided in CrossAmerica’s Partnership Agreement.

Conference Call

The Partnership will host a conference call on February 27, 2025, at 9:00 a.m. Eastern Time to discuss the fourth quarter and full year 2024 earnings results. The conference call numbers are 800-717-1738 or 646-307-1865 and the passcode for both is 43042. A live audio webcast of the conference call and the related earnings materials, including reconciliations of any non-GAAP financial measures to GAAP financial measures and any other applicable disclosures, will be available on that same day on the investor section of the CrossAmerica website (www.crossamericapartners.com). After the live conference call, an archive of the webcast will be available on the investor section of the CrossAmerica site at https://caplp.gcs-web.com/webcasts-presentations within 24 hours after the call for a period of sixty days.

Non-GAAP Measures and Same Store Metrics

Non-GAAP measures used in this release include EBITDA, Adjusted EBITDA, Distributable Cash Flow and Distribution Coverage Ratio. These Non-GAAP measures are further described and reconciled to their most directly comparable GAAP measures in the Supplemental Disclosure Regarding Non-GAAP Financial Measures section of this release.

Same store fuel volume and same store merchandise sales include aggregated individual store results for all stores that had fuel volume or merchandise sales in all months for both periods within the same segment. Same store merchandise sales excludes other revenues such as lottery commissions and car wash sales. Certain merchandise products have been transitioned from a gross profit model (whereby CrossAmerica owns the inventory and records sales and cost of sales) to a scan-based trading model (whereby a third party owns the inventory and CrossAmerica records a commission in other revenues). Same store merchandise sales for the three and twelve months ended December 31, 2024, were adjusted to gross it up for the sales that would have been recorded had CrossAmerica not changed models.

CROSSAMERICA PARTNERS LP

CONSOLIDATED BALANCE SHEETS

(Thousands of Dollars, except unit data)

CROSSAMERICA PARTNERS LP

CONSOLIDATED STATEMENTS OF OPERATIONS

(Thousands of Dollars, Except Unit and Per Unit Amounts)

CROSSAMERICA PARTNERS LP

CONSOLIDATED STATEMENTS OF CASH FLOWS

(Thousands of Dollars)

Segment Results

Retail

The following table highlights the results of operations and certain operating metrics of the Retail segment (in thousands, except for the number of retail sites and per gallon amounts):

(a) The increase in the company operated site count from December 31, 2023 to December 31, 2024 was primarily attributable to the conversion of certain lessee dealer and commission agent sites to company operated sites.

(b) The increase in the commission agent site count from December 31, 2023 to December 31, 2024 was primarily attributable to the conversion of certain lessee dealer sites to commission agent sites, partially offset by the conversion of certain commission sites to company operated sites.

(c) Same store fuel volume and same store merchandise sales include aggregated individual store results for all stores that had fuel volume or merchandise sales in all months for both periods. Same store merchandise sales excludes other revenues such as lottery commissions and car wash sales. Certain merchandise products have been transitioned from a gross profit model (whereby CrossAmerica owns the inventory and records sales and cost of sales) to a scan-based trading model (whereby a third party owns the inventory and CrossAmerica records a commission in other revenues). Same store merchandise sales for the three and twelve months ended December 31, 2024, were adjusted to gross it up for the sales that would have been recorded had CrossAmerica not changed models.

Wholesale

The following table highlights the results of operations and certain operating metrics of the Wholesale segment (thousands of dollars, except for the number of distribution sites and per gallon amounts):

(a) In addition, CrossAmerica distributed motor fuel to sub-wholesalers who distributed to additional sites.

(b) The decrease in the independent dealer site count from December 31, 2023 to December 31, 2024 was primarily attributable to the net loss of contracts, partially offset by divestitures of certain lessee dealer sites but with continued fuel supply.

(c) The decrease in the lessee dealer site count from December 31, 2023 to December 31, 2024 was primarily attributable to the conversion of certain lessee dealer sites to company operated and commission agent sites, including through the Applegreen acquisition and the Partnership's real estate rationalization effort.

Supplemental Disclosure Regarding Non-GAAP Financial Measures

CrossAmerica uses the non-GAAP financial measures EBITDA, Adjusted EBITDA, Distributable Cash Flow and Distribution Coverage Ratio. EBITDA represents net income before deducting interest expense, income taxes and depreciation, amortization and accretion (which includes certain impairment charges). Adjusted EBITDA represents EBITDA as further adjusted to exclude equity-based compensation expense, gains or losses on dispositions and lease terminations, net and certain discrete acquisition related costs, such as legal and other professional fees, separation benefit costs and certain other discrete non-cash items arising from purchase accounting. Distributable Cash Flow represents Adjusted EBITDA less cash interest expense, sustaining capital expenditures and current income tax expense. The Distribution Coverage Ratio is computed by dividing Distributable Cash Flow by distributions paid on common units.

EBITDA, Adjusted EBITDA, Distributable Cash Flow and Distribution Coverage Ratio are used as supplemental financial measures by management and by external users of CrossAmerica's financial statements, such as investors and lenders. EBITDA and Adjusted EBITDA are used to assess CrossAmerica’s financial performance without regard to financing methods, capital structure or income taxes and the ability to incur and service debt and to fund capital expenditures. In addition, Adjusted EBITDA is used to assess the operating performance of the Partnership’s business on a consistent basis by excluding the impact of items which do not result directly from the wholesale distribution of motor fuel, the leasing of real property, or the day to day operations of CrossAmerica’s retail site activities. EBITDA, Adjusted EBITDA, Distributable Cash Flow and Distribution Coverage Ratio are also used to assess the ability to generate cash sufficient to make distributions to CrossAmerica’s unitholders.

CrossAmerica believes the presentation of EBITDA, Adjusted EBITDA, Distributable Cash Flow and Distribution Coverage Ratio provides useful information to investors in assessing the financial condition and results of operations. EBITDA, Adjusted EBITDA, Distributable Cash Flow and Distribution Coverage Ratio should not be considered alternatives to net income or any other measure of financial performance or liquidity presented in accordance with U.S. GAAP. EBITDA, Adjusted EBITDA, Distributable Cash Flow and Distribution Coverage Ratio have important limitations as analytical tools because they exclude some but not all items that affect net income. Additionally, because EBITDA, Adjusted EBITDA, Distributable Cash Flow and Distribution Coverage Ratio may be defined differently by other companies in the industry, CrossAmerica’s definitions may not be comparable to similarly titled measures of other companies, thereby diminishing their utility.

The following table presents reconciliations of EBITDA, Adjusted EBITDA, and Distributable Cash Flow to net income, the most directly comparable U.S. GAAP financial measure, for each of the periods indicated (in thousands, except for per unit amounts):