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TravelCenters Reports First-Quarter Loss
Truck stop chain TravelCenters of America said it lost $18 million, or $1.08 per share, in the first quarter, compared with a loss of $48.5 million, or $3.34, a year ago.
Revenue fell to $966.6 million from $1.9 billion a year ago, the company said late Monday.
TA said the continued slowing of the U.S. economy presented it with “significant operating challenges” and that it experienced, on a same site basis, a 16.4% decline in fuel volumes for the quarter from a year ago.
The company said it believes that its fuel volume declines are consistent with declines in trucking activity and diesel fuel consumption generally.