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CST Brands Provides Update And Preliminary Results For The Fourth Quarter 2013

CST Brands, Inc. (NYSE: CST) (the “Company”) today provided an update to previous guidance related to its fourth quarter 2013 operating results. The Company originally provided this information on its conference call to discuss its third quarter 2013 financial results on Monday, November 4, 2013.

Although financial statements of CST Brands for the three months ended December 31, 2013 are not yet complete, certain preliminary financial information is available. Based on such preliminary financial information, the following is being provided:

U.S. Segment
  • Motor fuel volume, on a gallons per site per day basis, is expected to be close to the low end of the previously provided guidance of 4,850 to 4,950 gallons per site per day.
  • Merchandise sales, on a per site per day basis, is expected to be close to the low end of the previously provided guidance of $3,250 to $3,350 per site per day.
  • Merchandise gross margin percentage, after the deduction of credit card fees, is expected to be slightly above the high end of the previously provided range of 29 to 30 percent.
  • Although guidance was not previously provided with regard to motor fuel gross margin (cents per gallon), the Company expects fourth quarter cents per gallon, after the deduction of credit card fees, to be in the range of 14 to 16 cents per gallon.

Canada Segment
  • Motor fuel volume, on a gallons per site per day basis, is expected to be close to the low end of the previously provided guidance of 3,300 to 3,400 gallons per site per day.
  • Merchandise sales, on a per site per day basis, is expected to be close to the low end of the previously provided guidance of $2,500 to $2,600 per site per day.
  • Merchandise gross margin percentage, after the deduction of credit card fees, is expected to be slightly above the high end of the previously provided range of 27 to 28 percent.
  • Although guidance was not previously provided with regard to motor fuel gross margin (cents per gallon), the Company expects fourth quarter cents per gallon, after the deduction of credit card fees, to be in the range of 23 to 25 cents per gallon.

It is anticipated that the effective tax rate for the fourth quarter will be in the 34 to 36 percent range.

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