Crossamerica Partners Lp · NYSE:CAPL
Crossamerica Partners Lp — Q2 2021 Earnings Presentation
11 slides from Crossamerica Partners Lp's earnings presentation, Aug 10, 2021
Slide 1: Second Quarter 2021 Earnings Call
August 2021 Second Quarter 2021 Earnings Call Exhibit 99.2
Slide 2: Forward Looking Statements
Forward Looking Statements 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 expre
Slide 3: CrossAmerica Business Overview
CrossAmerica Business Overview Charles Nifong, CEO & President 3
Slide 4: Second Quarter Operations
Second Quarter Operations Wholesale fuel volume increased 27% 332 million gallons distributed in 2Q21 versus 260 million gallons in 2Q20 Primarily driven by acquisitions and exchanges Continued recovery from COVID-19 Wholesale fuel margin declined 15% 9.2 cents in 2Q21 versus 10.8 cents in 2Q20 Stro
Slide 5: CrossAmerica Financial Overview
CrossAmerica Financial Overview Jon Benfield, Chief Accounting Officer 5
Slide 6: Second Quarter Results Summary
Second Quarter Results Summary 6 Note: 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 7: Capital Strength
Capital Strength Leverage, as defined under our credit facility, was 4.42X as of June 30, 2021 Maintain Distribution Rate Distributable Cash Flow of $25.0 million for the three-month period ended June 30, 2021 Distribution rate of $0.5250 per unit ($2.10 per unit annualized) attributable to the seco
Slide 8: New Credit Facility and Amendment to CAPL Credit Agreement
New Credit Facility and Amendment to CAPL Credit Agreement JKM Credit Facility Entered into a credit agreement on July 16, 2021 Agreement among Borrower, CAPL JKM Holdings LLC, an indirect wholly-owned subsidiary of CrossAmerica and the sole member of Borrower, and Manufacturers and Traders Trust Co
Slide 9: Appendix
Appendix Second Quarter 2021 Earnings Call 9
Slide 10: Non-GAAP Financial Measures
Non-GAAP Financial Measures 10 We use the 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 accretion, which inc
Slide 11: Non-GAAP Reconciliation
Non-GAAP Reconciliation 11 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): During the three mon
CrossAmerica Partners — Q2 2021 Earnings Presentation on 6ix