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TravelCenters' 3Q Profit Jumps

11/7/2011 10:30:00 AM
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TravelCenters of America said Monday its third-quarter earnings jumped from a year ago as fuel sales increased.

The truck stop chain’s net income rose to $20.7 million, or 74 cents per share, from $4.5 million, or 26 cents, a year ago.

Revenue rose to $2.1 billion, from $1.5 billion, TA said in a statement. Fuel sales volume rose 4.8% from a year ago.

TA entered into four new franchise agreements with operators of travel centers this year, including one in Alabama and one in Virginia during the third quarter.

It said it expects that those two franchisee owned and operated sites will begin to operate under the Petro Stopping Centers and TA brands in December.

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