Exhibit 99.1

 

CrossAmerica Partners LP Reports Fourth Quarter and Year-End 2019 Results

 

-

Reported Fourth Quarter 2019 Operating Income of $9.4 million and Net Income of $4.3 million compared to Operating Income of $15.5 million and Net Income of $7.7 million for the Fourth Quarter 2018

 

-

Generated Fourth Quarter 2019 Adjusted EBITDA of $25.6 million and Distributable Cash Flow of $18.8 million, respectively. Fourth Quarter 2018 Adjusted EBITDA was $28.7 million and Distributable Cash Flow was $21.0 million, when adjusting for the new lease accounting guidance (ASC 842)

 

-

Distributed 253.9 million wholesale fuel gallons during the fourth quarter 2019 at an average wholesale fuel margin per gallon of 6.8 cents

 

-

Reported Full Year 2019 Operating Income of $43.3 million and Net Income of $18.1 million compared to Operating Income of $35.0 million and Net Income of $5.2 million for the Full Year 2018

 

-

Generated Full Year 2019 Adjusted EBITDA of $103.7 million and Distributable Cash Flow of $80.1 million, respectively. Full Year 2018 Adjusted EBITDA was $106.1 million and Distributable Cash Flow was $76.3 million, when adjusting for the new lease accounting guidance

 

-

Distributed 1.0 billion wholesale fuel gallons during the full year 2019 at an average wholesale fuel margin per gallon of 7.2 cents

 

-

Distribution Coverage for the Full Year 2019 was 1.11 times compared to 1.03 times for the Full Year 2018 and 1.04 times for the Fourth Quarter 2019 compared to 1.19 times for the Fourth Quarter 2018. Distribution Coverage for the Full Year 2018 was 1.01 times and 1.16 times for the Fourth Quarter 2018, respectively, when adjusting for the new lease accounting guidance

 

-

The Board of Directors of CrossAmerica’s General Partner declared a quarterly distribution of $0.5250 per limited partner unit attributable to the Fourth Quarter 2019.  

 

Allentown, PA February 25, 2020 – CrossAmerica Partners LP (NYSE: CAPL) (“CrossAmerica” or the “Partnership”), a leading wholesale fuels distributor and owner and lessor of real estate used in the retail distribution of motor fuels, today reported financial results for the fourth quarter and year ended December 31, 2019.

 

“We reported Adjusted EBITDA of $103.7 million and Distributable Cash Flow of $80.1 million for the full year of 2019 and maintained our quarterly distribution of $0.5250 per unit. In November of 2019, we began a new chapter for the partnership and have taken additional steps since then to position CrossAmerica for future success,” said Charles Nifong, CEO and President of CrossAmerica. “We have eliminated the IDRs and have announced an acquisition of retail and wholesale assets, returning the Partnership into the retail space. We look forward to closing on this acquisition along with the remaining asset exchanges with Circle K. Our focus in 2020 is on closing and integrating these acquisitions and continuing to find efficiencies in the business with our overall goal being to generate value for our unitholders.”

 


The following information was filed by Crossamerica Partners Lp (CAPL) on Wednesday, February 26, 2020 as an 8K 2.02 statement, which is an earnings press release pertaining to results of operations and financial condition. It may be helpful to assess the quality of management by comparing the information in the press release to the information in the accompanying 10-K Annual Report statement of earnings and operation as management may choose to highlight particular information in the press release.

View differences made from one year to another to evaluate Crossamerica Partners Lp's financial trajectory

Compare SEC Filings Year-over-Year (YoY) and Quarter-over-Quarter (QoQ)
Sample 10-K Year-over-Year (YoY) Comparison

Compare this 10-K Annual Report to its predecessor by reading our highlights to see what text and tables were  removed  ,   added    and   changed   by Crossamerica Partners Lp.

Continue

Never Miss A New SEC Filing Again


Real-Time SEC Filing Notifications
Screenshot taken from Gmail for a new 10-K Annual Report
Last10K.com Member Feature

Receive an e-mail as soon as a company files an Annual Report, Quarterly Report or has new 8-K corporate news.

Continue

We Highlighted This SEC Filing For You


SEC Filing Sentiment Analysis - Bullish, Bearish, Neutral
Screenshot taken from Wynn's 2018 10-K Annual Report
Last10K.com Member Feature

Read positive and negative remarks made by management in their entirety without having to find them in a 10-K/Q.

Continue

Widen Your SEC Filing Reading Experience


Increased Reading Area for SEC Filings
Screenshot taken from Adobe Inc.'s 10-Q Quarterly Report
Last10K.com Member Feature

Remove data columns and navigations in order to see much more filing content and tables in one view

Continue

Uncover Actionable Information Inside SEC Filings


SEC Filing Disclosures
Screenshot taken from Lumber Liquidators 10-K Annual Report
Last10K.com Member Feature

Read both hidden opportunities and early signs of potential problems without having to find them in a 10-K/Q

Continue

Adobe PDF, Microsoft Word and Excel Downloads


Download Annual and Quarterly Reports as PDF, Word and Excel Documents
Screenshots of actual 10-K and 10-Q SEC Filings in PDF, Word and Excel formats
Last10K.com Member Feature

Export Annual and Quarterly Reports to Adobe PDF, Microsoft Word and Excel for offline viewing, annotations and analysis

Continue

FREE Financial Statements


Download Annual and Quarterly Reports as PDF, Word and Excel Documents
Screenshot of actual balance sheet from company 10-K Annual Report
Last10K.com Member Feature

Get one-click access to balance sheets, income, operations and cash flow statements without having to find them in Annual and Quarterly Reports

Continue for FREE

Intrinsic Value Calculator


Intrinsic Value Calculator
Screenshot of intrinsic value for AT&T (2019)
Last10K.com Member Feature

Our Intrinsic Value calculator estimates what an entire company is worth using up to 10 years of financial ratios to determine if a stock is overvalued or not

Continue

Financial Stability Report


Financial Stability Report
Screenshot of financial stability report for Coco-Cola (2019)
Last10K.com Member Feature

Our Financial Stability reports uses up to 10 years of financial ratios to determine the health of a company's EPS, Dividends, Book Value, Return on Equity, Current Ratio and Debt-to-Equity

Continue

Get a Better Picture of a Company's Performance


Financial Ratios
Available Financial Ratios
Last10K.com Member Feature

See how over 70 Growth, Profitability and Financial Ratios perform over 10 Years

Continue

Log in with your credentials

or    

Forgot your details?

Create Account