CrossAmerica Partners LP · NYSE:CAPL
CrossAmerica Partners LP — Q1 2017 Earnings Presentation
14 slides from CrossAmerica Partners LP's earnings presentation, May 9, 2017
Slide 1: First Quarter 2017 Earnings Call
May 2017 First Quarter 2017 Earnings Call
Slide 2: Safe Harbor Statement
First Quarter 2017 Earnings Call May 2017 Safe Harbor 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,” “estimates,” “target” a
Slide 3: CrossAmerica Business Overview
CrossAmerica Business Overview Jeremy Bergeron, President 3
Slide 4: CrossAmerica Partners LP Overview
First Quarter 2017 Earnings Call May 2017 CrossAmerica Partners LP Overview • Master limited partnership and leading wholesale fuels distributor, convenience store lessor, and c-store operator – Distributes annually over 1 billion gallons of fuel – Annual gross rental income of over $80 million – Op
Slide 5: Operating Results
First Quarter 2017 Earnings Call May 2017 First Quarter Operating Results (in thousands, except for number of sites and per gallon amounts) OPERATING RESULTS (in thousands, except for per gallon and site count) Three Months ended March 31, 2017 2016 % Change Total Motor Fuel Distribution Sites (peri
Slide 6: Drivers of Cash Flow
First Quarter 2017 Earnings Call May 2017 Drivers of Cash Flow Segment Gross Profit(1) Category Gross Profit(1) (1) Presented before intersegment eliminations. In addition, Rent is combined from the Wholesale and Retail Segments 6 1Q 2017 78% 22% Wholesale Retail $29 million $8 million 36% 3%, $1 mi
Slide 7: Highlights
First Quarter 2017 Earnings Call May 2017 First Quarter 2017 Highlights • Adjusted EBITDA(1) – Increased Adjusted EBITDA 7% from First Quarter 2016 to First Quarter 2017 • Expense Reduction – Reduced expenses (operating and G&A) 6% from First Quarter 2016 to First Quarter 2017 • Capital Strength – L
Slide 8: CrossAmerica Financial Overview
CrossAmerica Financial Overview Steven Stellato, Chief Accounting Officer 8
Slide 9: Results Summary
First Quarter 2017 Earnings Call May 2017 First Quarter Results Summary(1) (in millions, except for per unit amounts) KEY METRICS Three Months ended March 31, 2017 2016 % Change Gross Profit $37.4 $37.2 1% Adjusted EBITDA $23.7 $22.2 7% Distributable Cash Flow $16.9 $17.3 (3%) Weighted Avg. Diluted
Slide 10: 1Q16 vs 1Q17 Adjusted EBITDA
First Quarter 2017 Earnings Call May 2017 1Q16 vs 1Q17 Adjusted EBITDA(1) (in thousands) 10 (1) See the (i) reconciliation of EBITDA, Adjusted EBITDA and Distributable Cash Flow (or “DCF”) to net income and (ii) the definitions of EBITDA, Adjusted EBITDA and DCF in the appendix of this presentation.
Slide 11: Executing with Measured Growth
First Quarter 2017 Earnings Call May 2017 Executing with Measured Growth • Declared distribution attributable to first quarter of $0.6175 per unit – 0.5 cent per unit increase over distributions attributable to fourth quarter 2016 – Increased annual per unit distribution by 6.1% for 2016 over 2015 •
Slide 12: Appendix
Appendix First Quarter 2017 Earnings Call 12
Slide 13: Non-GAAP Financial Measures
First Quarter 2017 Earnings Call May 2017 Non-GAAP Financial Measures 13
Slide 14: Non-GAAP Reconciliation
First Quarter 2017 Earnings Call May 2017 Non-GAAP Reconciliation 14
CrossAmerica Partners — Q1 2017 Earnings Presentation on 6ix