Crossamerica Partners Lp · NYSE:CAPL
Crossamerica Partners Lp — Q4 2017 Earnings Presentation
14 slides from Crossamerica Partners Lp's earnings presentation, Feb 27, 2018
Slide 1: Fourth Quarter 2017 Earnings Call
February 2018 Fourth Quarter 2017 Earnings Call Exhibit 99.2
Slide 2: Safe Harbor Statement
Safe Harbor Statement Statements contained in this presentation that state the Partnership’s or management’s expectations or predictions of the future are forward-looking statements. The words “believe,” “expect,” “should,” “intends,” “estimates,” “target” and other similar expressions identify forw
Slide 3: CrossAmerica Business Overview
CrossAmerica Business Overview Jeremy Bergeron, President & CEO
Slide 4: CrossAmerica Partners LP Overview
CrossAmerica Partners LP Overview Master limited partnership and leading wholesale fuels distributor, convenience store lessor, and c-store operator Distributes annually over 1 billion gallons of fuel Annual gross rental income of over $85 million Operates 71 retail sites 17.5% equity interest in CS
Slide 5: 4Q and Full Year Operating Results
4Q and Full Year Operating Results OPERATING RESULTS (in thousands, except for per gallon and site count) Three Months ended Dec. 31, 2017 2016 % Change Full Year 2017 2016 % Change Total Motor Fuel Distribution Sites (period avg.) 1,199 1,188 1% 1,183 1,128 5% Total Volume of Gallons Distributed 26
Slide 6: 2017 Highlights
2017 Highlights Alimentation Couche-Tard (ACT)/Circle K completes the acquisition of CST Brands On June 28, 2017, a U.S. subsidiary of Couche-Tard acquired CST Brands and includes the assets related to CrossAmerica Acquisition of Jet-Pep Assets In November 2017, we closed on the acquisition of the r
Slide 7: ACT Integration Update
ACT Integration Update Successful organizational integration continues Ahead of schedule on synergy targets, with over $3.5 million achieved to date Additional synergies expected from recent alignment with Circle K on fuel distribution carrier business Continue with successful integration of jointly
Slide 8: Strategy & Objectives
Strategy & Objectives EBITDA growth in 2018 to come from: Synergy recognition, cost control and other efforts to strengthen the base business Cash flow improvement through our initial unwind transaction Cash flow from 4Q17 Jet-Pep acquisition Further third party acquisition opportunities Further str
Slide 9: CrossAmerica Financial Overview
CrossAmerica Financial Overview Evan Smith, Chief Financial Officer
Slide 10: 4Q and Full Year Results Summary
4Q and Full Year Results Summary OPERATING RESULTS (in millions, except for per gallon and site count) Three Months ended Dec. 31, 2017 2016 % Change Full Year 2017 2016 % Change Gross Profit $40.1 $38.7 4% $160.8 $155.6 3% Adjusted EBITDA $28.6 $27.2 5% $109.1 $103.6 5% Distributable Cash Flow $21.
Slide 11: Historical Performance
Historical Performance Note:G&A Expenses exclude special and one-time items, such as acquisition costs. See the reconciliation of EBITDA, Adjusted EBITDA and Distributable Cash Flow (or “DCF”) to net income and the definitions of EBITDA, Adjusted EBITDA and DCF in the appendix of this presentation.
Slide 12: Appendix
Appendix Fourth Quarter 2017 Earnings Call
Slide 13: Non-GAAP Financial Measures
Non-GAAP Financial Measures Non-GAAP Financial Measures We use non-GAAP financial measures EBITDA, Adjusted EBITDA, Distributable Cash Flow and Distribution Coverage Ratio. EBITDA represents net income available to us before deducting interest expense, income taxes and depreciation, amortization and
Slide 14: Non-GAAP Reconciliation
Non-GAAP Reconciliation 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): (a)As approved by the i
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