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CAP CROSSAMERICA PARTNERS Cross America Partners LP Reports First Quarter 2021 Results May 10 , 2021 Allentown , PA , May 10 , 2021 ( GLOBE NEWSWIRE ) -- CAP CROSSAMERICA PARTNERS LP Cross America Partners LP Reports First Quarter 2021 Results • Reported First Quarter 2021 Operating Loss of $ 0.9 million and Net Loss of $ 4.0 million compared to Operating Income of $ 77.4 million and Net Income of $ 72.1 million for the First Quarter 2020. During the First Quarter 2020 , Cross America recorded a gain on sale totaling $ 70.9 million , primarily driven by the sale of its 17.5 % investment in CST Fuel Supply • Generated First Quarter 2021 Adjusted EBITDA of $ 20.7 million and Distributable Cash Flow of $ 15.8 million compared to First Quarter 2020 Adjusted EBITDA of $ 25.3 million and Distributable Cash Flow of $ 20.4 million • Reported First Quarter 2021 Gross Profit for the Wholesale Segment of $ 34.9 million compared to $ 35.1 million of Gross Profit for the First Quarter 2020 • Distributed 291.8 million wholesale fuel gallons during the First Quarter 2021 at an average wholesale fuel margin per gallon of 7.3 cents compared to 220.6 million wholesale fuel gallons at an average wholesale fuel margin per gallon of 9.0 cents during the First Quarter 2020 , an increase of 32 % in gallons distributed and a decrease of 19 % in margin per gallon • Reported First Quarter 2021 Gross Profit for the Retail Segment of $ 19.7 million compared to $ 2.0 million of Gross Profit for the First Quarter 2020 • The Distribution Coverage Ratio was 1.23 times for the trailing twelve months ended March 31 , 2021 , as compared to 1.19 times for the trailing twelve months ended March 31 , 2020 • On April 29th , CrossAmerica announced a definitive agreement to acquire 106 convenience store locations from 7 - Eleven , Inc. • The Board of Directors of Cross America's General Partner declared a quarterly distribution of $ 0.5250 per limited partner unit attributable to the First Quarter 2021 Allentown , PA May 10 , 2021 - CrossAmerica Partners LP ( NYSE : CAPL ) ( " Cross America " 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 first quarter ended March 31 , 2021 . " Rising crude prices combined with typical seasonality effects impacted our first quarter results adversely . However , we are optimistic as the overall operating environment continues to recover from the impacts of the COVID pandemic , " said Charles Nifong , CEO and President of CrossAmerica .