CrossAmerica Partners(US:CAPL)2021-03-02 15:21Financial Performance - Net income for the full year 2020 increased by 494% to $107456 thousand compared to $18076 thousand in 2019[4,14] - Distributable Cash Flow for the full year 2020 increased by 28% to $102468 thousand compared to $80123 thousand in 2019[4,14] - Adjusted EBITDA for the full year 2020 increased by 4% to $107416 thousand compared to $103703 thousand in 2019[4,14] - Wholesale fuel gross profit increased by 43% to $102785 thousand for the full year 2020 compared to $71918 thousand in 2019[4] - Distribution coverage improved to 1.31x for the full year 2020 from 1.11x in 2019[15] Operational Highlights - Total volume of gallons distributed increased by 11% to 1116788 thousand gallons for the full year 2020 compared to 1003994 thousand gallons in 2019[4] - Wholesale fuel margin per gallon increased by 28% year-over-year from $0072 to $0092 for the full year 2020[4,6] - Rental gross profit decreased by 7% to $58019 thousand for the full year 2020 compared to $62646 thousand in 2019[4] - Operating expenses increased by 73% to $90928 thousand for the full year 2020 compared to $52554 thousand in 2019[4] Strategic Initiatives - Completed the NWF/175% CST Fuel Supply Exchange with Couche-Tard/Circle K[8] - Completed the acquisition of retail/wholesale assets, including retail operations at 169 sites and wholesale fuel supply to 110 sites[10]