Four New Truckstops Boost Sales
Petro Stopping Centers announces 3Q results
EL PASO, Texas -- Petro Stopping Centers LP recently announced its operating results for the third quarter ended Sept. 30, 2005. Net revenue for third-quarter 2005 of $509.1 million was $170.9 million, or 50.5%, higher than the same period in 2004, with comparable unit revenues increasing $136.2 million, or 40.3%.
The increase in revenue was driven primarily by a 39.8% increase in the average retail selling price per fuel gallon and increased fuel gallons sold, as well as improved nonfuel sales and the addition of four sites. Net income for the three [image-nocss] months ended September 30 of $8.6 million was $5.1 million higher than the same period in 2004. Compared to the same period last year, EBITDA increased $5.8 million or 44.6%, to $18.9 million for the three months ended September 30.
The four new truckstopsin New Jersey, Ohio, Nebraska and Georgiaadded $1.5 million to EBITDA.
Petro Stopping Centers is an owner and operator of large, multiservice truckstops. The nationwide network of 63 locations consisted of 41 company-operated facilities and 22 franchised facilities. Petro Stopping Centers offers a variety of products, services and amenities, including diesel fuel, gasoline, home-style Iron Skillet restaurants, Petro:Lube truck service centers and travel and convenience stores.