Crossamerica Partners Lp · NYSE:CAPL
Crossamerica Partners Lp — Q2 2018 Earnings Presentation
12 slides from Crossamerica Partners Lp's earnings presentation, Aug 7, 2018
Slide 1: Second Quarter 2018 Earnings Call
August 2018 Second Quarter 2018 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 Gerardo Valencia, CEO & President
Slide 4: Second Quarter Operating Results
Second Quarter Operating Results OPERATING RESULTS (in thousands, except for per gallon and site count) Three Months ended June 30, 2018 2017 % Change Total Motor Fuel Distribution Sites (period avg.) 1,251 1,179 6% Company Operated Sites (period avg.) 71 72 (1%) Total Volume of Gallons Distributed
Slide 5: Second Quarter Highlights: Strong Base Business
Second Quarter Highlights Strong base business Strong Base Business – Growth of Gross Profit by 6% Wholesale Segment - Overall Gross Profit Increased 6%; Operating Expenses Declined 9% Retail Segment - Overall Gross Profit Increased 5%, Motor Fuel Gross Profit Increased 22% Disciplined Cost Control
Slide 6: Second Quarter Highlights: Strengthening for Growth
Second Quarter Highlights Strengthening for growth Applegreen in Florida - 43 locations Investment to bring a world class convenience retail operator and developer Applegreen will operate over 60 CrossAmerica locations by end of 2018 Adjusted EBITDA growth despite of omnibus cash payment Increased A
Slide 7: CrossAmerica Financial Overview
CrossAmerica Financial Overview Evan Smith, Chief Financial Officer
Slide 8: Second Quarter Results Summary
Second Quarter Results Summary OPERATING RESULTS (in millions, except for per gallon and site count) Three Months ended June 30, 2018 2017 % Change Gross Profit $44.0 $41.6 6% Adjusted EBITDA $28.2 $27.8 2% Distributable Cash Flow $20.0 $21.2 (6%) Weighted Avg. Diluted Units 34.3 33.8 2% Distributio
Slide 9: Capital Strength and Quarterly Transactions
Capital Strength and Quarterly Transactions Leverage, as defined under our credit facility, was 4.38X as of June 30, 2018 Maintain Distribution Rate Distribution rate of $0.5250 per unit ($2.10 per unit annualized) attributable to the second quarter of 2018 Improved coverage ratio to 1.11 times in 2
Slide 10: Appendix
Appendix Second Quarter 2018 Earnings Call
Slide 11: 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 12: 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): Three Months Ended June
CrossAmerica Partners — Q2 2018 Earnings Presentation on 6ix