Good morning, ladies and gentlemen, and welcome to the CrossAmerica Partners Second Quarter 2025 Earnings Call. [Operator Instructions] This call is being recorded on Thursday, August 7, 2025. I would now like to turn the call over to Maura Topper, Chief Financial Officer. Please go ahead.

Thank you, operator. Good morning, and thank you for joining the CrossAmerica Partners Second Quarter 2025 Earnings Call. With me today is Charles Nifong, CEO and President. We'll start off the call today with Charles providing some opening comments and an overview of CrossAmerica's operational performance for the second quarter, and then I will discuss the financial results. We will then open up the call to questions. Today's call will follow presentation slides that are available as part of the webcast and are posted on the CrossAmerica website. Before we begin, I would like to remind everyone that today's call, including the question-and-answer session, may include forward- looking statements regarding expected revenue, future plans, future operational metrics and opportunities and expectations of the organization. There can be no assurance that management's expectations, beliefs and projections will be achieved or that actual results will not differ from expectations. Please see CrossAmerica's filings with the Securities and Exchange Commission, including annual reports on Form 10-K and quarterly reports on Form 10-Q for a discussion of important factors that could affect our actual results. Forward-looking statements represent the judgment of CrossAmerica's management as of today's date, and the organization disclaims any intent or obligation to update any forward-looking statements. During today's call, we may also provide certain performance measures that do not conform to U.S. generally accepted accounting principles or GAAP. We have provided schedules that reconcile these non-GAAP measures with our reported results on a GAAP basis as part of our earnings press release. Today's call is being webcast, and a recording of this conference call will be available on the CrossAmerica website for a period of 60 days. With that, I will now turn the call over to Charles.

Thank you, Maura. Maura and I appreciate everyone joining us this morning, and thank you for making the time to be with us today. During today's call, I will go through some of the operating highlights for the second quarter. I will also provide commentary on the market and a few other updates as I typically do on our calls. Maura will then review in more detail our financial results. Before I jump into a detailed review of our operating results, I want to highlight some important strategic actions that we executed during the quarter and then talk about our operating results from a high level. We had a record dollar value of asset sales during the quarter. We realized approximately $64 million in proceeds from asset sales during the quarter that we primarily used to pay down debt. For the most part, we sold sites with continuing fuel supply relationships, so we realized an extremely attractive effective multiple on these divestitures. We also lessened our real estate ownership in markets such as Kansas and Colorado, which are not part of our long-term strategic plans for real estate ownership. So these transactions not only strengthened our financial position today, they also strengthened our operating portfolio today and for the future. On the operations side, our results reflect a continuation of the challenging environment as our results on an EBITDA basis were below the prior year, but significantly better than the first quarter. Fuel market volatility so far this year has been lower, limiting fuel margin opportunities. Consumers, particularly lower income, have been selective in their spending. While our fuel volume and store sales outperformed the industry for the quarter, they were still impacted by these factors, which weighed on our results. With that backdrop, if you turn to Slide 4,…

Thank you, Charles. If you would please turn to Slide 6, I would like to review our second quarter results for the partnership. We reported net income of $25.2 million for the second quarter of 2025 compared to net income of $12.4 million in the second quarter of 2024. This increase in net income was primarily driven by gains on the sale of assets that Charles discussed in his commentary, offset by a decline in adjusted EBITDA year-over-year. CrossAmerica recorded a net gain from asset sales and lease terminations of $28.4 million during the second quarter of 2025 compared to $5.6 million during the second quarter of 2024. This was offset by an increase of $4.9 million in depreciation, amortization and accretion expenses, primarily due to an increase in impairment charges for the current quarter compared to the prior year period, also related to our asset sales. I'll add to Charles' comments about some of the additional benefits to our balance sheet from our continued real estate rationalization efforts later in my comments. Adjusted EBITDA for the second quarter of 2025 was $37.1 million, a decline of $5.5 million from the same period of 2024, primarily due to a decline in fuel and rent gross profit and higher operating expenses. Our distributable cash flow for the second quarter of 2025 was $22.4 million, a decline from $26.1 million for the second quarter of 2024. The decrease in distributable cash flow was primarily due to our lower adjusted EBITDA for the quarter this year as well as slightly higher sustaining capital expenditures during the quarter. These were offset by lower current income tax expense and a decline in interest expense due to a lower average interest rate and a lower average outstanding debt balance on our capital credit facility during the…

[Operator Instructions]

Well, it doesn't appear that we have any questions today. Should you have any questions in the future, please feel free to reach out to us. Again, thank you for joining us, and have a great day.