CrossAmerica Partners(CAPL) - 2020 Q3 - Earnings Call Presentation

Third Quarter 2020 Performance - Total volume of gallons distributed increased by 26% to 327367 thousand gallons[4] - Wholesale fuel gross profit increased by 47% to $30686 thousand[4] driven by both an increase in volume and strong fuel margin per gallon[5] - Net income increased significantly by 196% to $21205 thousand[4,9] - Distributable Cash Flow increased by 16% to $29742 thousand[4,9] - Adjusted EBITDA increased by 3% to $29964 thousand[4,9] Asset Exchange and Real Estate Rationalization - Completed the final asset exchange with Couche-Tard/Circle K on September 15, 2020[7] - CrossAmerica received 23 properties with a fair value of approximately $20400 thousand and a cash payment of $6700 thousand[7] - Divested seven properties during the third quarter for a total of $3800 thousand[7] Financial Strength - Distribution coverage (Paid Basis – current quarter) increased by 5% to 150x[9] - Distribution coverage (Paid Basis – trailing twelve months) increased by 9% to 124x[9] - Maintained a distribution rate of $05250 per unit ($210 per unit annualized) attributable to the third quarter of 2020[10]