CAPL — what changed in the latest 10-Q
A section-by-section comparison of CAPL's newest periodic SEC filing (10-K/10-Q) against the prior same-form filing: paragraphs added and removed per section, with verbatim excerpts. Purely a deterministic text diff — no similarity scores, no directional read, not investment advice.
Comparing 10-Q · 2026-08-05 vs the prior 10-Q · 2026-05-06
| Section | Outcome | Added | Removed | Minor | Unchanged |
|---|---|---|---|---|---|
| MD&A | Text added/removed | +37 | −14 | ~23 | 67 |
| Market risk (Item 3) | No paragraph-level changes | 0 | 0 | 0 | 1 |
| Controls & procedures | Text added/removed | 0 | 0 | ~2 | 0 |
| Legal proceedings | No paragraph-level changes | 0 | 0 | 0 | 1 |
| Risk factors | No material changes reported (points to the 10-K) | — | — | — | — |
Counts are paragraphs; added/removed means text added or removed vs the prior filing — no direction or judgement implied.
Not shown (absent or not faithfully extractable): Other information
Representative excerpts
Up to 5 excerpts of about 300 characters per section, quoted verbatim from the two SEC filings.
MD&A
Text added vs the prior filing · source: 10-Q · 2026-08-05
Revenues from fuel sales increased $220 million (26%) due primarily to a 43% increase in our consolidated average fuel selling price. The average spot price of WTI crude oil increased 48% to $95.65 per barrel for the second quarter of 2026, compared to $64.57 per barrel for the second quarter of 202…
Six Months Ended June 30, 2026 Compared to Six Months Ended June 30, 2025
Operating revenues increased $196 million (11%) and operating income increased $15.5 million (36%). Significant items impacting these results were:
Revenues from fuel sales increased $200 million (13%) due primarily to a 24% increase in our consolidated average fuel selling price. The average spot price of WTI crude oil increased 24% to $84.29 per barrel for the first half of 2026, compared to $68.12 per barrel for the first half of 2025. This …
Cost of sales increased $177 million (11%), due to a higher cost per gallon, partially offset by lower volume due to the same drivers discussed above.
Text removed vs the prior filing · source: 10-Q · 2026-05-06
Revenues from fuel sales decreased $19.6 million (3%) due primarily to a 6% decrease in volume due to the net loss of independent dealer contracts and a reduction in volume in our base business. Rent income decreased $2.6 million (15%) due to the sale of certain lessee dealer sites in connection wit…
Margin per gallon, before deducting credit card fees and commissions
Margin per gallon, before deducting credit card fees and commissions
The decrease in the company operated site count was primarily attributable to the sale of certain company operated sites in connection with our real estate rationalization effort, partially offset by the conversion of certain lessee dealer sites to company operated sites.
The decrease in the commission agent site count was primarily attributable to the sale of certain commission agent sites in connection with our real estate rationalization effort, partially offset by the conversion of certain lessee dealer sites to commission agent sites.
How to read Risk Factors (Item 1A) in a 10-Q
A 10-Q risk-factor section usually takes one of three forms; this page classifies it as one of:
- Pointer — the filer states there have been no material changes and points back to the annual 10-K risk factors; there is no own risk text to compare this quarter.
- Partial update — the filer carves out specific updated risks ("except as set forth below"); the excerpts show exactly what is new this quarter.
- Restated in full — the quarter carries the complete risk-factor text. When the prior quarter was only a pointer there is no prior full text to diff against, so the page flags the section as restated instead.
This describes the filing structure only — it is never a judgement on whether risk went up or down.
Source: text-level diff of the two SEC EDGAR filings · deterministic (no AI-generated content) · for reference only · not investment advice