Revenue during the quarter grew 27.61 percent to $469.29 million from $367.74 million in the previous year period. Gross margin for the quarter contracted 213 basis points over the previous year period to 7.98 percent. Total expenses were 98.81 percent of quarterly revenues, up from 98.39 percent for the same period last year. That has resulted in a contraction of 42 basis points in operating margin to 1.19 percent.

Operating income for the quarter was $5.58 million, compared with $5.92 million in the previous year period.

However, the adjusted EBITDA for the quarter stood at $23.74 million compared with $22.22 million in the prior year period. At the same time, adjusted EBITDA margin contracted 98 basis points in the quarter to 5.06 percent from 6.04 percent in the last year period.

"Our wholesale segment experienced solid growth during the quarter with a 13% year-over-year increase in gross profit," said Jeremy Bergeron, president of CrossAmerica. “While we did experience some headwinds with retail fuel margin, we were still able to grow Adjusted EBITDA 7% to nearly $24 million compared to $22 million in the first quarter of 2016." Bergeron went on to say, “CST is anticipating that the completion of its merger with Circle K Stores, Inc., a wholly-owned subsidiary of Alimentation Couche-Tard Inc. will occur in CST's current fiscal quarter. We look forward to working with Circle K and providing more detail regarding our strategic plans in the near future."