TravelCenters of America Inc (TA)

[Tutu]

TravelCenters 2Q Profit Skyrockets On Strong Fuel Sales


TravelCenters of America LLC (TA) second-quarter profit skyrocketed from a year earlier, as the gas station and roadside restaurant operator saw its bottom line lifted by a pop in fuel sales.

TravelCenters operates more than 200 sites and counts the trucking industry as its primary customer. The company has swung to the black in recent quarters, though it still posted a loss in its first quarter.

The company reported a profit of $21.7 million, or 99 cents a share, up from $1.2 million, or 7 cents a share, a year earlier. Two analysts polled by Thomson Reuters forecast per-share earnings of 77 cents.

Revenue climbed 39% to $2.1 billion, as total fuel revenues jumped 47%. Total non-fuel revenues were up 9.7%, helped by increased customer spending in TA's travel centers.

Total fuel gross margin per gallon was $0.162, up from $0.147 a year earlier.