- TravelCenters of America (TA -8.2%) reports Q1 revenue growth of 13.7% Y/Y to $1.58B.
- Segment revenue: Travel Centers $1.4B (+16.7% Y/Y); Convenience Stores $173.5M (+5.5% Y/Y); Corporate & Other $27.7 (-0.7% Y/Y).
- Fuel: revenue of $1.1B (+19.2% Y/Y); gross margin increased 58 bps to 8.5%; gross margin per gallon of $0.182 (+28.2% Y/Y).
- Nonfuel: revenue of 480.4M (+3.5% Y/Y); gross margin increased 110 bps to 58.8%.
- Fuel sales volume (gallons): Diesel fuel 395,883 (+0.3% Y/Y); Gasoline 118,336 (-1% Y/Y) & Total fuel sales volume of 514,219 (flat Y/Y).
- Same site operating data: same site company operated locations of 461; Fuel sales volume (gallons): Diesel 388,309 (-0.5% Y/Y); Gasoline 112,543 (-1.3% Y/Y) & Total fuel sales volume of 500,852 (-0.7% Y/Y).
- Adj. EBITDA of -$1.7M (+51.5% Y/Y); due to the decrease in fuel gross margin, an increase in real estate rent expense & an increase in SG&A.
- Cash & equivalents of $52M (+44.4% Q/Q).
- Previously: TravelCenters of America misses by $0.51, misses on revenue (May 7)
- Now read: Aaron's Is Becoming An Interesting Bet On Credit (Though I'm Not Taking It)
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