- TravelCenters of America ( NASDAQ: TA ) is up 19% , Tuesday, after posting solid beat on both top and bottom line in its second quarter's earnings results .
- Revenue of $3.08B (+68.3% Y/Y) beats by $120M .
- By segment: Fuel revenue rose to $2.52B (+89.83% Y/Y); Non-Fuel, $553.36M (+10.3% Y/Y); and Rent and royalties franchisees reached to $3.93M.
- The company recorded 67% increase in Adjusted EBITDA to $122.8M after fuel and non-fuel gross margins increased by 56% and 10% respectively.
- We continue to evaluate opportunities to acquire high quality travel centers, with two full service travel centers and a truck service location added during the second quarter and a third full service travel center location added in early July.
- "While results benefitted from favorable fuel purchasing conditions created by extraordinary volatility, a continued focus on operational excellence and investing in growth were also instrumental in driving a very strong quarter once again," said CEO Jonathan M. Pertchik .
- Non-GAAP EPS of $4.34 beats by $2.67.
- The company ended the quarter with cash and cash equivalents of $565.1M and availability under TA's revolving credit facility of $185.4M for total liquidity of $750.6M as of June 30, 2022.
- Read more in Seeking Alpha marketplace's article at Hold rating by the author: TravelCenters of America Q2 Earnings Shine Bright, Priced At 5x EPS.
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TravelCenters of America rallies after higher margins, earnings beat