CrossAmerica Partners(CAPL) - 2020 Q2 - Earnings Call Presentation

Financial Performance - Net income decreased by 19% from $6.4 million in Q2 2019 to $5.2 million in Q2 2020[4, 9] - Gross profit increased by 39% from $41.4 million in Q2 2019 to $57.6 million in Q2 2020[9] - Adjusted EBITDA remained flat at $27.7 million in both Q2 2019 and Q2 2020[4, 9] - Distributable cash flow increased by 17% from $22.3 million in Q2 2019 to $26.0 million in Q2 2020[4, 9] Operational Metrics - Total volume of gallons distributed increased by 1% from 258,602 thousand gallons in Q2 2019 to 260,246 thousand gallons in Q2 2020[4] - Wholesale fuel margin per gallon increased by 46% from $0.074 in Q2 2019 to $0.108 in Q2 2020[4] - Operating expenses increased significantly by 77% from $14.210 million in Q2 2019 to $25.097 million in Q2 2020[4] Capital Management - Distribution coverage (paid basis – current quarter) increased by 6% from 1.24x to 1.31x[9] - Distribution coverage (paid basis – trailing twelve months) increased by 14% from 1.06x to 1.21x[9] - The distribution rate remained constant at $0.5250 per unit[9, 10] Strategic Initiatives - Completed the acquisition of retail/wholesale assets, including retail operations at 169 sites[6] - Divested seven properties during the second quarter for a total of $4.4 million[6]