Before today's opening bell, the Westlake, OH-based truck stop operator posted a net loss of 4 cents per share, missing analysts' expectations for earnings of 2 cents per share.
Revenue for the quarter was $1.35 billion, which did not meet Wall Street's projections of $1.55 billion.
Earnings were impacted by a decrease in fuel gross margin and increases in expenses, the company said.
Additionally, fuel revenue fell 32.4% to $429.8 million, due to significantly lower market prices for fuel compared to the same period last year.
TheStreet's Jim Cramer, portfolio manager of the Action Alerts PLUS charitable trust, commented on the results: "I was disappointed to see no increase in driving but the spare change from lower prices did create a nice pick-up in convenience store sales. Those who are hoping for a big summer driving season may be disappointed."
The company has travel centers in 43 states and in Canada. It operates under brand names including TA, Petro Stopping Centers and Petro.
"The 2015 fourth quarter represented a period of significant activity for TA. Our acquisition of 20 convenience stores, as well as the high level of activity related to the ramp up of these and over 150 other recently acquired locations, are part of a longer-term goal to balance our fuel business between diesel fuel, which principally relies on business demand, and gasoline, which principally relies on consumer demand," CEO Thomas M. O'Brien said in a statement.
About 1.6 million of the company's shares were traded by this afternoon, well above its average volume of 278,859 shares per day.
Separately, TheStreet Ratings Team has a "Hold" rating with a score of C on the stock.
The primary factors that have impacted the rating are mixed - some indicating strength, some showing weaknesses, with little evidence to justify the expectation of either a positive or negative performance for this stock relative to most other stocks.
The company's strengths can be seen in multiple areas, such as its attractive valuation levels, largely solid financial position with reasonable debt levels by most measures and notable return on equity.
As a counter to these strengths, the team also finds weaknesses including unimpressive growth in net income, weak operating cash flow and a generally disappointing performance in the stock itself.
Recently, TheStreet Ratings objectively rated this stock according to its "risk-adjusted" total return prospect over a 12-month investment horizon. Not based on the news in any given day, the rating may differ from Jim Cramer's view or that of this articles's author.
You can view the full analysis from the report here: TA