CrossAmerica Partners(CAPL) - 2023 Q1 - Earnings Call Presentation

Financial Performance - Net loss was $979 thousand, compared to net income of $5047 thousand in the first quarter of 2022, a decrease of 119%[24, 36] - Adjusted EBITDA decreased by 1% from $31968 thousand in 1Q22 to $31738 thousand in 1Q23[24, 36] - Distributable Cash Flow decreased by 21% from $24248 thousand in 1Q22 to $19132 thousand in 1Q23[24, 36] - Distribution coverage ratio (current quarter) decreased by 21% from 122x to 096x[24, 36] Wholesale Segment - Motor fuel gross profit from the Wholesale Segment increased 3% to $167 million in 1Q23 from $162 million in 1Q22[26] - Overall Gross Profit for the Wholesale Segment increased 3% to $312 million for 1Q23 from $303 million for 1Q22[26] - Wholesale fuel margin increased 5% from 79 cents in 1Q22 to 83 cents in 1Q23, while fuel volume declined 1%[26] - Wholesale fuel volume distributed for 1Q23 was 2019 million gallons compared to 2039 million gallons in 1Q22[26] Retail Segment - Retail Segment's Gross Profit increased 5% year-over-year from $485 million in 1Q22 to $508 million in 1Q23[26] - Retail fuel volume for 1Q23 increased 3% when compared to 1Q22 (1191 million gallons sold in 1Q23 versus 1160 million gallons in 1Q22)[26] Capital and Debt - Upsized borrowing capacity to $925 million from $750 million[8] - Leverage ratio at 405x at 3/31/23[8] - Q1 2023 capital expenditures of $60 million, including $40 million of growth capex[30]