Crossamerica Partners Lp · NYSE:CAPL
Crossamerica Partners Lp — Q1 2021 Earnings Presentation
12 slides from Crossamerica Partners Lp's earnings presentation, May 11, 2021
Slide 1: First Quarter 2021 Earnings Call
May 2021 First 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: First Quarter Operations
First Quarter Operations Wholesale fuel volume increased 32% 292 million gallons distributed in 1Q21 versus 221 million gallons in 1Q20 Primarily driven by acquisitions and exchanges Offset by the impact of COVID-19 Wholesale fuel margin declined 19% 7.3 cents in 1Q21 versus 9.0 cents in 1Q20 Strong
Slide 5: Definitive Agreement to Acquire Sites from 7-Eleven
Definitive Agreement to Acquire 106 Sites from 7-Eleven* Acquiring sites from 7-Eleven, Inc. Properties are located in the Mid-Atlantic and Northeast Regions of the U.S. 106 total company operated sites 105 sites are currently branded Speedway and one site is branded 7-Eleven 90 of the sites are fee
Slide 6: Definitive Agreement to Acquire Sites from 7-Eleven (contd.)
Definitive Agreement to Acquire 106 Sites from 7-Eleven* (contd.) Will be rebranding sites shortly after closing of transaction to our proprietary store brand, Joe’s Kwik Marts, and also converting the sites to existing major branded fuel suppliers Great assets with a strategic fit within existing a
Slide 7: CrossAmerica Financial Overview
CrossAmerica Financial Overview Jon Benfield, Chief Accounting Officer 7
Slide 8: First Quarter Results Summary
First Quarter Results Summary 8 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 9: Capital Strength
Capital Strength Leverage, as defined under our credit facility, was 4.54X as of March 31, 2021 Maintain Distribution Rate Distributable Cash Flow of $15.8 million for the three-month period ended March 31, 2021 Distribution rate of $0.5250 per unit ($2.10 per unit annualized) attributable to the fi
Slide 10: Appendix First Quarter 2021 Earnings Call
Appendix First Quarter 2021 Earnings Call 10
Slide 11: Non-GAAP Financial Measures
Non-GAAP Financial Measures 11 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 12: Non-GAAP Reconciliation
Non-GAAP Reconciliation 12 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 — Q1 2021 Earnings Presentation on 6ix