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TravelCenters of America Q1 loss widens YOY

TravelCenters of America LLC said its first-quarter normalized net income came to a loss of 71 cents per share, compared with the S&P Capital IQ consensus estimate of a loss of 17 cents per share.

The per-share loss increased year over year from 25 cents.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was a loss of $26.4 million, compared with a loss of $9.2 million in the year-earlier period.

The normalized profit margin declined to negative 1.9% from negative 0.8% in the year-earlier period.

Total revenue rose 21.0% year over year to $1.39 billion from $1.15 billion, and total operating expenses grew 23.1% on an annual basis to $1.43 billion from $1.16 billion.

Reported net income came to a loss of $27.9 million, or a loss of 74 cents per share, compared to a loss of $9.5 million, or a loss of 26 cents per share, in the year-earlier period.