Crossamerica Partners Lp · NYSE:CAPL
Crossamerica Partners Lp — Q4 2018 Earnings Presentation
13 slides from Crossamerica Partners Lp's earnings presentation, Feb 26, 2019
Slide 1: Fourth Quarter 2018 Earnings Call
February 2019 Fourth Quarter 2018 Earnings Call Exhibit 99.2
Slide 2: Forward Looking Statement
Forward Looking 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,” “anticipates”, “estimates,” “target” and other similar expres
Slide 3: CrossAmerica Business Overview
CrossAmerica Business Overview Gerardo Valencia, CEO & President
Slide 4: 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, 2018 2017 % Change Full Year 2018 2017 % Change Total Motor Fuel Distribution Sites (period avg.) 1,222 1,199 2% 1,242 1,183 5% Total Volume of Gallons Distributed 25
Slide 5: 2018 Highlights
2018 Highlights Wholesale Business – Gross Profit increase of 8% Fuel volume increased 2% with nearly 1.05 billion gallons distributed during the year Margin (cents per gallon) increased 18% year-over-year Optimized low margin portfolio and improving pricing capability Rent and Other represented 47%
Slide 6: 2018 Highlights
2018 Highlights In December, we entered into an Asset Exchange Agreement with Circle K Dealers are being secured with Letters of Intent on over 85 sites and have converted 38 of these sites to contracts Still anticipate that the first transaction will occur in the first half of calendar 2019 Develop
Slide 7: Strategy & Objectives for 2019
Strategy & Objectives for 2019 EBITDA growth in 2019 to come from: Synergy recognition, cost control and other efforts to strengthen the base business Further growth from our Alabama Jet-Pep portfolio Cash flow improvement through our initial asset exchange transaction Further third party acquisitio
Slide 8: CrossAmerica Financial Overview
CrossAmerica Financial Overview Evan Smith, Chief Financial Officer
Slide 9: 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, 2018 2017 % Change Full Year 2018 2017 % Change Gross Profit $45.1 $40.1 12% $172.8 $160.8 7% Adjusted EBITDA $30.5 $28.6 7% $113.4 $109.1 4% Distributable Cash Flow $21
Slide 10: Capital Strength and Quarterly Transactions
Capital Strength and Quarterly Transactions Leverage, as defined under our credit facility, was 4.53X as of December 31, 2018, down from 4.61X at September 30, 2018. Reduced revolver debt with proceeds from FTC mandated divestitures and improved cash flow generation from stronger operations Maintain
Slide 11: Appendix
Appendix Fourth Quarter 2018 Earnings Call
Slide 12: 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 13: 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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