Crossamerica Partners Lp · NYSE:CAPL
Crossamerica Partners Lp — Corporate Update (January 2020)
11 slides from Crossamerica Partners Lp's corporate update, Jan 16, 2020
Slide 1: Update and Strategic Initiatives January 2020
Update and Strategic Initiatives January 2020 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,” “estimates,” “target” and other similar expressions identify
Slide 3: Elimination of Incentive Distribution Rights (IDRs)
Elimination of Incentive Distribution Rights (IDRs)* *Additional details regarding the elimination of the incentive distribution rights (IDRs) are included in a press release and Form 8-K filing, issued on January 15 and 16, 2020, respectively, and available on the CrossAmerica website at www.crossa
Slide 4: Elimination of Incentive Distribution Rights (IDRs)
Elimination of Incentive Distribution Rights (IDRs)* *Additional details regarding the elimination of the incentive distribution rights (IDRs) are included in a press release and Form 8-K filing, issued on January 15 and 16, 2020, respectively, and available on the CrossAmerica website at www.crossa
Slide 5: Definitive Agreement to Acquire Retail/Wholesale Assets
Definitive Agreement to Acquire Retail/Wholesale Assets* *Additional details regarding the definitive agreement to acquire retail assets from entities affiliated with Joe Topper, Chairman of CrossAmerica, are included in a press release and Form 8-K filing, issued on January 15 and 16, 2020, respect
Slide 6: Definitive Agreement to Acquire Retail/Wholesale Assets
Definitive Agreement to Acquire Retail/Wholesale Assets* *Additional details regarding the definitive agreement to acquire retail assets from entities affiliated with Joe Topper, Chairman of CrossAmerica, are included in a press release and Form 8-K filing, issued on January 15 and 16, 2020, respect
Slide 7: Rationale for Acquiring Retail Assets
Rationale for Acquiring Retail Assets Prior to November 2019, CrossAmerica, as part of the Circle K organization, was the wholesale arm of a retail focused company and could partner with Circle K on retail opportunities Without a retail capability, the Partnership is limited in regards to flexibilit
Slide 8: 2020 Guidance
2020 Guidance* Based on our current outlook and the expected performance of our announced strategic transactions and initiatives, we expect to generate 2020 Adjusted EBITDA^ between $125 million and $135 million and 2020 Distributable Cash Flow^ between $100 million and $110 million On an annualized
Slide 9: 2020 Guidance
2020 Guidance* Announced strategic transactions and initiatives include: Two asset exchanges: Tranches associated with original asset exchange announced 12/17/18 and expected to close in the first quarter of 2020 Asset exchange announced 11/20/19 that includes a select portion of Couche-Tard’s U.S.
Slide 10: Appendix
Cc.» Appendix January 2020 CROSSAMERICA PARTNERS LP
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
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