Exhibit 99.1


earningsreleaseletterhead.jpg
FOR IMMEDIATE RELEASE
Contact:
Katie Strohacker, Senior Director of Investor Relations
(617) 796-8251
www.ta-petro.com
TravelCenters of America LLC Announces Fourth Quarter and Full Year 2018 Financial Results
Loss from Continuing Operations for the Quarter Improved by $6.9 million, or 49.9%
Sale of Minit Mart Stores Generated Net Proceeds of $319.9 million
Purchase of 20 Travel Centers Reduced Annual Rent by $43.1 million
_____________________________________________________________________________________
Westlake, OH (February 26, 2019): TravelCenters of America LLC (Nasdaq: TA) today announced financial results for the three months and year ended December 31, 2018:
(in thousands, except per share amounts)
Three Months Ended 
 December 31,
 
Year Ended
December 31,
2018
 
2017
 
2018
 
2017
(Loss) income from continuing operations
$
(6,973
)
 
$
(13,919
)
 
$
(2,773
)
 
$
19,902

Net (loss) income
(5,922
)
 
(20,710
)
 
(120,404
)
 
9,283

Net (loss) income attributable to common shareholders
(5,949
)
 
(20,742
)
 
(120,553
)
 
9,151

 
 
 
 
 
 
 
 
(Loss) income per common share from continuing
   operations attributable to common shareholders
   (basic and diluted)
$
(0.18
)
 
$
(0.35
)
 
$
(0.07
)
 
$
0.50

 
 
 
 
 
 
 
 
Non-GAAP Measures:(1)
 
 
 
 
 
 
 
Adjusted loss from continuing operations
$
(6,699
)
 
$
(11,950
)
 
$
(25,251
)
 
$
(27,650
)
Adjusted loss per common share from
   continuing operations attributable to common
   shareholders (basic and diluted)
$
(0.17
)
 
$
(0.30
)
 
$
(0.64
)
 
$
(0.70
)
EBITDA
$
20,309

 
$
12,050

 
$
107,835

 
$
59,047

Adjusted EBITDA
20,673

 
13,706

 
78,552

 
70,242

(1)
Reconciliations from (loss) income from continuing operations, (loss) income per common share from continuing operations attributable to common shareholders and net (loss) income, as applicable, the financial measures determined in accordance with U.S. generally accepted accounting principles, or GAAP, to the non-GAAP measures disclosed herein are included in the supplemental tables below.
Andrew J. Rebholz, TA's CEO, made the following statement regarding the 2018 fourth quarter results:
"For the fourth quarter of 2018, we had a loss from continuing operations of $7.0 million, which is an improvement of $6.9 million, or 49.9%, over the prior year quarter. Net loss for the 2018 fourth quarter improved by $14.8 million, or 71.4%, and adjusted EBITDA for the 2018 fourth quarter of $20.7 million was up by $7.0 million, or 50.8%, in each case compared to the prior year fourth quarter. Despite ongoing technological and competitive headwinds, we grew total fuel sales volume by 0.8% and total nonfuel revenues by 3.9%. One soft spot in our fourth quarter operating results was related to site level operating expenses; our ratio of these expenses to nonfuel revenues increased. This resulted from higher labor costs as we recruited and trained truck repair technicians ahead of the increased business volume we expect.

1

The following information was filed by Travelcenters Of America Llc (TA) on Tuesday, February 26, 2019 as an 8K 2.02 statement, which is an earnings press release pertaining to results of operations and financial condition. It may be helpful to assess the quality of management by comparing the information in the press release to the information in the accompanying 10-K Annual Report statement of earnings and operation as management may choose to highlight particular information in the press release.

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