TravelCenters Reports First-Quarter Loss

Truck stop chain TravelCenters of America reported a first-quarter loss of $48.5 million, or $3.41 per share, compared with a loss of $31.7 million, or $1.09, a year ago.

Revenue rose to $1.9 billion, from $1.1 billion a year ago, the company said.

TA became public on Jan. 31, 2007, and last May acquired Petro Stopping Centers L.P.

“Industry and market conditions in the first quarter of 2008 were difficult,” the company said in a statement. “While diesel fuel prices continued to climb throughout the quarter, we were able to improve our fuel margins on a cents per gallon basis only modestly  . . . but our volume of fuel sold on a same site basis declined as a result of decreased demand from our customers.”

TA said last week it would pay competitor Flying J $5 million to settle a two-year old suit over fuel card transactions.