Crossamerica Partners Lp · NYSE:CAPL
Crossamerica Partners Lp — Q4 2023 Earnings Presentation
12 slides from Crossamerica Partners Lp's earnings presentation, Feb 27, 2024
Slide 1: Fourth Quarter and Full Year 2023 Earnings Call
Fourth Quarter and Full Year 2023 Earnings Call February 2024
Slide 2: Forward Looking Statement
Fourth Quarter and Full Year 2023 Earnings Call February 2024 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,”
Slide 3: CrossAmerica Business Overview
CrossAmerica Business Overview Charles Nifong, CEO & President 3
Slide 4: Fourth Quarter Operations
Fourth Quarter and Full Year 2023 Earnings Call February 2024 Fourth Quarter Operations OPERATING RESULTS Three Months ended Dec. 31, (in thousands, except for margin per gallon and 2023 2022 % Change merchandise gross margin percentage) Wholesale Segment: Gross Profit $33,039 $32,826 1% Motor Fuel
Slide 5: Full Year Operations
Fourth Quarter and Full Year 2023 Earnings Call February 2024 Full Year Operations OPERATING RESULTS Full Year (in thousands, except for margin per gallon and % Change merchandise gross margin percentage) 2023 2022 Wholesale Segment: Gross Profit $128,801 $130,739 (1%) Motor Fuel Gross Profit $72,68
Slide 6: Strategy Overview
Fourth Quarter and Full Year 2023 Earnings Call February 2024 Strategy Overview • Provide excellent service and value to our customers, both retail and wholesale • Improve the business through increasing our operational efficiency and realizing benefits of our scale • Position the portfolio for the
Slide 7: CrossAmerica Financial Overview
CrossAmerica Financial Overview Maura Topper, Chief Financial Officer 7
Slide 8: 4Q and Full Year Results Summary
Fourth Quarter and Full Year 2023 Earnings Call February 2024 4Q and Full Year Results Summary OPERATING RESULTS Three Months ended Dec. 31, Full Year (in thousands, except for 2023 2022 % Change % Change distributions per unit and coverage) 2023 2022 Net Income $16,743 $17,090 (2%) $42,592 $63,696
Slide 9: Capital Strength
Fourth Quarter and Full Year 2023 Earnings Call February 2024 Capital Strength • Capital Expenditures – Fourth quarter 2023 capital expenditures of $12.9 million with $10.6 million of growth capex – Total 2023 capital expenditures of $34.6 million with $27.0 million of growth capex – Growth capital
Slide 10: Appendix
Appendix Fourth Quarter and Full Year 2023 Earnings Call 10
Slide 11: Non-GAAP Financial Measures
Fourth Quarter and Full Year 2023 Earnings Call February 2024 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 expens
Slide 12: Non-GAAP Reconciliation
Fourth Quarter and Full Year 2023 Earnings Call February 2024 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 th
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