Company News

TravelCenters of America Sees Increase in 4th-Quarter Retail Sales Prior to Acquisition By bp

Fuel sales declined, however
TravelCenters of America
Photograph courtesy of TravelCenters of America

TravelCenters of America Inc. (TA), Westlake Ohio, saw positive fourth-quarter retail sales growth but negative fuel earnings as it prepares to merge with bp Products North America in mid-2023.

  • bp America Inc./Thorntons is No. 7 on CSP’s Top 40 update to the 2022 Top 202 ranking of U.S. convenience-store chains by company-owned store count. TravelCenters of America is No. 29.

The company brought in a net income of $46.8 million, a 266% increase compared to fourth-quarter 2021.

Store and retail sales at TA saw a 2.1% increase from fourth-quarter 2021 to 2022, bringing in $191 million this quarter.

TA’s restaurant business, which includes more than 200 company-owned and external brands, had more restaurant openings this year. The company made $83 million in the restaurant segment in 2022, a 7.8% increase from 2021.

In terms of fuel, total sales volume was down 2.2%, with $564 million in sales. Broken down, gasoline and diesel fuel declined 5.8% and 1.8%, respectively.

The company earned $10.8 billion in year-end revenue compared to $7.3 billion in 2021. In 2022, fuel made up $8.7 billion and nonfuel accounted for $2.1 billion of the total revenue.

TravelCenters of America is the nation's largest publicly traded full-service travel center network. Founded in 1972 and based in Westlake, Ohio, it has 281 locations in 44 states, principally under the TA, Petro Stopping Centers and TA Express brands. Offerings include diesel and gasoline fuel, truck maintenance and repair, travel stores, car and truck parking and other services. TA also operates more than 600 full-service and quick-service restaurants (QSRs) and nine proprietary brands, including Iron Skillet and Country Pride.

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