Travel Centers of America

Love’s: Restraint in new travel centers/truck parking in ’24, but larger growth plans

googletag.cmd.push(function() { var gptSlot = googletag.defineSlot(‘/21776187881/FW-Responsive-Main_Content-Slot1’, [[728, 90], [468, 60], [300, 100], [320, 50]], ‘div-gpt-ad-b1-i-fw-ad-1’).defineSizeMapping(gptSizeMaps.banner1).setCollapseEmptyDiv(true).addService(googletag.pubads());
gptAdSlots.push(gptSlot);
});

googletag.cmd.push(function() { googletag.display(‘div-gpt-ad-b1-i-fw-ad-1’); });

Coming off a year in which it made several significant acquisitions even as its growth in new travel...

https://www.freightwaves.com/news/loves-restraint-in-new-travel-centers-truck-parking-in-24-but-larger-growth-plans

TA shareholders overwhelmingly approve sale of company to BP

Only the formal closing remains in BP’s acquisition of TravelCenters of America, with shareholders overwhelmingly approving the purchase in voting results released Wednesday.

There was no sign of a late move by convenience store operator Arko to derail the BP purchase of TA (NASDAQ: TA) at $86 per share, which was announced in February. Arko had offered $92 per share, but TA rejected the bid on several grounds, including issues raised by the landlord for TA’s travel centers about Arko’s public...

https://www.freightwaves.com/news/ta-shareholders-overwhelmingly-approve-sale-of-company-to-bp

TA again rejects Arko bid, plans to proceed with acquisition by BP

googletag.cmd.push(function() { var gptSlot = googletag.defineSlot(‘/21776187881/FW-Responsive-Main_Content-Slot1’, [[728, 90], [468, 60], [300, 100], [320, 50]], ‘div-gpt-ad-b1-i-fw-ad-1’).defineSizeMapping(gptSizeMaps.banner1).setCollapseEmptyDiv(true).addService(googletag.pubads());
gptAdSlots.push(gptSlot);
});

googletag.cmd.push(function() { googletag.display(‘div-gpt-ad-b1-i-fw-ad-1’); });

TravelCenters of America has shut the door on any further talks with Arko Corp. about its...

https://www.freightwaves.com/news/ta-again-rejects-arko-bid-plans-to-proceed-with-acquisition-by-bp

TA directors advise rejection of higher bid, sticking with BP as buyer

An unsolicited offer from an unidentified prospective buyer of Travel Centers of America is getting a thumbs-down from TA’s directors, advising shareholders to approve BP’s bid for the truck stop operator.

In the company’s proxy filing Wednesday with the Securities and Exchange Commission, which among other things spells out various items required for shareholder approval, TA (NASDAQ: TA) revealed that it received a bid for the company on March 14. The identity of Party G was not disclosed, only...

Berkshire Hathaway will pump out more Pilot data with bigger stake

Just as analysts are about to lose the financial information coming out of one of the biggest truck stop companies, they are going to get a look at an even bigger one.

The planned acquisition by TravelCenters of America (NASDAQ: TA) by oil company giant BP, announced last month, means that the quarterly earnings and conference calls of TA will disappear. 

But earlier this quarter, on Jan. 31, Berkshire Hathaway (NYSE: BRK.B) increased its stake in privately owned Pilot Travel Centers, which...

Loaded and Rolling: BP buys TravelCenters of America; ATRI reveals top bottlenecks of ’23

BP buys TravelCenters of America
(Photo: Jim Allen/FreightWaves)

On Thursday, according to a news release, BP Products North America Inc., a subsidiary of BP, reached an agreement to purchase TravelCenters of America for $1.3 billion in cash. The purchase of TA is expected to add around 280 travel centers and double BP’s global convenience gross margin.

Regarding the reasons behind the acquisition, the release noted growth opportunities in EV charging, biofuels, renewable natural gas (RNG) and...

https://www.freightwaves.com/news/loaded-and-rolling-bp-buys-travelcenters-of-america-atri-reveals-top-bottlenecks-of-23

TravelCenters of America posts $1.2B revenue gain selling less fuel

TravelCenters of America Inc.’s second quarter net income jumped 121% as revenue climbed to $3.1 billion from $1.8 billion a year earlier, despite a decline in sales of diesel and gasoline.

The company’s nonfuel revenue for the quarter was $553 million, a gain of 10.3% gain compared with the 2021 period. Revenue from truck service increased 12.4% to $218 million compared with a year earlier.

“While results benefitted from favorable fuel purchasing conditions created by extraordinary volatility, a...

https://www.freightwaves.com/news/travelcenters-of-america-posts-solid-q2

The Log Book: St. Christopher reaches $4M milestone of giving

The Log Book is a weekly rundown of human-interest stories related to the transportation industry. This week: St. Christopher reaches a giving milestone and kicks off its Round Up Campaign with TA, the BTA announces a new board chairman and UPS holds its first Impact Summit.

St. Christopher reaches $4M milestone, continues partnership with TA

Non-profit organization St. Christopher Truckers Relief Fund (SCF) announced it has reached a milestone — spending over $4 million in relief to truck...

https://www.freightwaves.com/news/the-log-book-st-christopher-reaches-4m-milestone-of-giving

TA sees double-digit jump in diesel fuel pumped during 3Q

Truck stop operator Travel Centers of America (TA) pumped a double-digit increase in diesel volumes in the third quarter compared to both the corresponding quarter of last year and the second quarter during the heart of the pandemic.

In an indicator of freight and trucking demand, and because TA is the only publicly traded company of its kind, the quarterly figures on diesel volume are a good indicator of where freight demand was in the prior quarter. 

For the quarter, TA sold 485.4 million...

https://www.freightwaves.com/news/ta-sees-double-digit-jump-in-diesel-fuel-pumped-during-3q

Join Our Newsletter
Enter your email to receive a weekly round-up of shipping news.
icon
By subscribing, you agree with our privacy policy and our terms of service.