Crossamerica Partners Lp · NYSE:CAPL
Crossamerica Partners Lp — Q3 2020 Earnings Presentation
11 slides from Crossamerica Partners Lp's earnings presentation, Nov 5, 2020
Slide 1: Third Quarter 2020 Earnings Call
November 2020 Third Quarter 2020 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
Slide 4: Third Quarter Operating Results
Third Quarter Operating Results OPERATING RESULTS (in thousands, except for per gallon amounts) Three Months ended September 30, 2020 2019 % Change Total Volume of Gallons Distributed 327,367 260,287 26% Wholesale Fuel Margin per Gallon $0.094 $0.080 18% Wholesale Fuel Gross Profit $30,686 $20,843 4
Slide 5: Third Quarter Update
Third Quarter Update Completed the remaining asset exchange with Couche-Tard/Circle K Entered into the asset exchange agreement as of 12/17/18#: Completed the final exchange of assets on September 15, 2020 CrossAmerica received 23 (17 fee and 6 leased) properties with a fair value of approximately $
Slide 6: CrossAmerica Financial Overview
CrossAmerica Financial Overview Jon Benfield, Interim Chief Financial Officer
Slide 7: Third Quarter Results Summary
Third Quarter Results Summary OPERATING RESULTS (in thousands, except for distributions per unit and coverage) Three Months ended September 30, 2020 2019 % Change Net Income $21,205 $7,165 196% Gross Profit $62,272 $41,145 51% Adjusted EBITDA $29,964 $28,951 3% Distributable Cash Flow $29,742 $25,74
Slide 8: Capital Strength
Capital Strength Leverage, as defined under our credit facility, was 3.83X as of September 30, 2020 Increase in credit facility availability Maintain Distribution Rate Distributable Cash Flow of $30.0 million for the three-month period ended September 30, 2020 Distribution rate of $0.5250 per unit (
Slide 9: Appendix
Appendix Third Quarter 2020 Earnings Call
Slide 10: Non-GAAP Financial Measures
Non-GAAP Financial Measures 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 includ
Slide 11: 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 Sept
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