This Day On The Street
Continue to site
ADVERTISEMENT
This account is pending registration confirmation. Please click on the link within the confirmation email previously sent you to complete registration.
Need a new registration confirmation email? Click here

TravelCenters Of America LLC Announces Third Quarter 2012 Results

TravelCenters of America LLC (NYSE MKT: TA) today announced financial results for the three and nine months ended September 30, 2012.

At September 30, 2012, TA’s business included 242 sites, 171 of which were operated under the “TravelCenters of America” or “TA” brand names and 71 of which were operated under the “Petro Stopping Centers” or “Petro” brand name.

       
 
Three Months Ended

September 30,

Nine Months Ended

September 30,

2012   2011 2012   2011
 
(in thousands, except per share amounts)
Revenues $ 2,034,153 $ 2,087,285 $ 6,070,529 $ 5,964,356
Net income $ 18,990 $ 20,793 $ 34,657 $ 26,049
 
Net income per share:
Basic and diluted $ 0.66 $ 0.74 $ 1.20 $ 1.15
 
Supplemental Data:
Total fuel sales volume (gallons) 511,373 543,959 1,552,998 1,574,394
Total fuel revenues $ 1,666,810 $ 1,734,621 $ 5,039,010 $ 4,989,927
Fuel gross margin $ 84,980 $ 81,322 $ 249,563 $ 227,984
 
Total nonfuel revenues $ 363,402 $ 348,790 $ 1,020,299 $ 963,676
Nonfuel gross margin $ 199,385 $ 196,010 $ 565,098 $ 548,328
 
EBITDAR (1) $ 83,604 $ 83,069 $ 227,425 $ 210,530
(1)     A reconciliation that shows the calculation of earnings before interest, taxes, depreciation, amortization and rent, or EBITDAR, from net income determined in accordance with generally accepted accounting principles, or GAAP, appears in the supplemental data below.

Business Commentary

TA’s net income of $19.0 million for the third quarter of 2012 decreased by $1.8 million as compared to the net income in the 2011 third quarter. TA’s results included improvement in fuel margin, nonfuel revenues, nonfuel gross margin and EBITDAR, which increased by $0.5 million, or 0.6%, over the 2011 third quarter to $83.6 million in the 2012 third quarter, despite a decline in fuel sales volume. Nonfuel revenues for the 2012 third quarter increased $14.6 million, or 4.2%, above the 2011 third quarter. Fuel gross margin increased $3.7 million, or 4.5%, nonfuel gross margin increased $3.4 million, or 1.7%, and total gross margin increased $7.1 million, or 2.5%, each in the 2012 third quarter as compared to the 2011 third quarter. The improvements in nonfuel revenues and gross margin in the third quarter of 2012 resulted, in large part, from the travel centers acquired or opened since July 1, 2011, increased fuel gross margin per gallon and increased customer spending for nonfuel products and services in TA’s travel centers.

1 of 8

Check Out Our Best Services for Investors

Action Alerts PLUS

Portfolio Manager Jim Cramer and Director of Research Jack Mohr reveal their investment tactics while giving advanced notice before every trade.

Product Features:
  • $2.5+ million portfolio
  • Large-cap and dividend focus
  • Intraday trade alerts from Cramer
Quant Ratings

Access the tool that DOMINATES the Russell 2000 and the S&P 500.

Product Features:
  • Buy, hold, or sell recommendations for over 4,300 stocks
  • Unlimited research reports on your favorite stocks
  • A custom stock screener
Stocks Under $10

David Peltier uncovers low dollar stocks with serious upside potential that are flying under Wall Street's radar.

Product Features:
  • Model portfolio
  • Stocks trading below $10
  • Intraday trade alerts
14-Days Free
Only $9.95
14-Days Free
To begin commenting right away, you can log in below using your Disqus, Facebook, Twitter, OpenID or Yahoo login credentials. Alternatively, you can post a comment as a "guest" just by entering an email address. Your use of the commenting tool is subject to multiple terms of service/use and privacy policies - see here for more details.
Submit an article to us!
SYM TRADE IT LAST %CHG

Markets

DOW 18,037.97 -42.17 -0.23%
S&P 500 2,108.92 -8.77 -0.41%
NASDAQ 5,060.2460 -31.8390 -0.63%

Partners Compare Online Brokers

Free Reports

Top Rated Stocks Top Rated Funds Top Rated ETFs