Crossamerica Partners Lp · NYSE:CAPL
Crossamerica Partners Lp — Q3 2023 Earnings Presentation
10 slides from Crossamerica Partners Lp's earnings presentation, Nov 8, 2023
Slide 1: Third Quarter 2023 Earnings Call
Third Quarter 2023 Earnings Call November 2023
Slide 2: Forward Looking Statement
Third Quarter 2023 Earnings Call November 2023 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”,
Slide 3: CrossAmerica Business Overview
CrossAmerica Business Overview Charles Nifong, CEO & President 3
Slide 4: Third Quarter Operations
Third Quarter 2023 Earnings Call November 2023 Third Quarter Operations • Motor Fuel Gross Profit from the Wholesale Segment declined 4% – $18.8 million in 3Q23 versus $19.5 million in 3Q22 – Driven by a 7% decline in fuel margin, partially offset by a 2% increase in volume – Fuel margin cpg was 8.6
Slide 5: CrossAmerica Financial Overview
CrossAmerica Financial Overview Maura Topper, Chief Financial Officer 5
Slide 6: Third Quarter Results Summary
Third Quarter 2023 Earnings Call November 2023 Third Quarter Results Summary OPERATING RESULTS Three Months ended Sept 30, (in thousands, except for 2023 2022 % Change distributions per unit and coverage) Net Income $12,292 $27,593 (55%) Adjusted EBITDA $44,209 $62,167 (29%) Distributable Cash Flow
Slide 7: Capital Strength
Third Quarter 2023 Earnings Call November 2023 Capital Strength • Capital Expenditures • Q3 2023 capital expenditures of $10.4 million, including $8.5 million of growth capex • Growth capital projects during the quarter included certain image upgrades that will be funded primarily through incentives
Slide 8: Appendix
Appendix Third Quarter 2023 Earnings Call 8
Slide 9: Non-GAAP Financial Measures
Third Quarter 2023 Earnings Call November 2023 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 before deducting interest expense, income taxes
Slide 10: Non-GAAP Reconciliation
Third Quarter 2023 Earnings Call November 2023 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
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