Exhibit 99.1

image11a.jpg
FOR IMMEDIATE RELEASE
Contact:
Kristin Brown, Director of Investor Relations
(617) 796-8251
www.ta-petro.com
TravelCenters of America Inc. Announces Fourth Quarter and Full Year 2020 Financial Results
Net Loss of $7.2 Million and Net Loss Per Share of Common Stock Attributable to Common Stockholders of $0.42 for the 2020 Fourth Quarter
Adjusted EBITDA Increased 36.1% for the 2020 Fourth Quarter Over Prior Year Period
Adjusted EBITDAR Increased 9.6% for the 2020 Fourth Quarter Over Prior Year Period
_____________________________________________________________________________________
Westlake, OH (February 25, 2021): TravelCenters of America Inc. (Nasdaq: TA) today announced financial results for the three months and year ended December 31, 2020.
Jonathan M. Pertchik, TA's CEO, made the following statement regarding the 2020 fourth quarter results:
"The COVID-19 pandemic continues to have an extensive impact on demand and our operations; however, through our mission to 'Return every traveler to the road better than they came', the early effectiveness of our Transformation Plan and our discipline around managing expenses, we were able to deliver improved operating results in the fourth quarter. We reduced our adjusted net loss by $2.1 million and posted a $7.2 million, or 36.1%, improvement in adjusted EBITDA and a $7.9 million, or 9.6%, improvement in adjusted EBITDAR over the prior year fourth quarter.
Our continued focus on our fleet customers drove a 16.2% increase in diesel fuel sales volume over the prior year fourth quarter, although our adjusted fuel gross margin, which excludes the federal biodiesel blenders' tax credit recognized during 2020 and December 2019, was down 8.8% due to lower gasoline sales volume as a result of reduced four wheel traffic and low volatility in the diesel fuel wholesale market, which unfavorably impacted fuel gross margin per gallon. Additionally, the 2020 fourth quarter was impacted by diesel fuel gross margin market volatility and headwinds which also impacted the quarter results, and may continue to create challenges going forward. Nonetheless, our enhanced leadership has demonstrated its ability to effectively execute through challenging times caused by COVID-19 pandemic.
Total nonfuel revenues decreased 1.0% over the prior year period driven almost entirely by a decline in revenues at our full service restaurants, many of which remain closed due to governmental mandates and our own precautions taken in response to the COVID-19 pandemic. Excluding full service restaurants, total nonfuel revenues improved 7.1% over the prior year due to solid improvements in our store and retail services and truck service departments, as well as a significant improvement in revenues from diesel exhaust fluid. Our sound discipline in managing expenses, resulted in decreases of 8.7% and 4.5% in site level operating expense and selling, general and administrative expense, respectively, were primary factors in delivering improved quarter over quarter results.
Looking ahead, while fuel gross margin headwinds may persist, we are extremely excited about our 2021 capital expenditures plans that focus on both remediation and growth on top of the operational improvements we have implemented. We expect to target a 15% to 20% cash on cash return for those capital expenditures related to growth initiatives. Equally as exciting are our burgeoning plans in the area of alternative energy, where we are moving toward onboarding dedicated leadership and finalizing a clear strategy going forward that we expect may include meaningful collaborations and ventures. This is a challenging, yet exciting and opportune time at TA."

1

The following information was filed by Travelcenters Of America Llc (TA) on Thursday, February 25, 2021 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.

View differences made from one year to another to evaluate Travelcenters Of America Llc's financial trajectory

Compare SEC Filings Year-over-Year (YoY) and Quarter-over-Quarter (QoQ)
Sample 10-K Year-over-Year (YoY) Comparison

Compare this 10-K Annual Report to its predecessor by reading our highlights to see what text and tables were  removed  ,   added    and   changed   by Travelcenters Of America Llc.

Continue

Assess how Travelcenters Of America Llc's management team is paid from their Annual Proxy

Definitive Proxy Statement (Form DEF 14A)
Screenshot example of actual Proxy Statement

Travelcenters Of America Llc's Definitive Proxy Statement (Form DEF 14A) filed after their 2021 10-K Annual Report includes:

  • Voting Procedures
  • Board Members
  • Executive Team
  • Salaries, Bonuses, Perks
  • Peers / Competitors

Continue

Never Miss A New SEC Filing Again


Real-Time SEC Filing Notifications
Screenshot taken from Gmail for a new 10-K Annual Report
Last10K.com Member Feature

Receive an e-mail as soon as a company files an Annual Report, Quarterly Report or has new 8-K corporate news.

Continue

We Highlighted This SEC Filing For You


SEC Filing Sentiment Analysis - Bullish, Bearish, Neutral
Screenshot taken from Wynn's 2018 10-K Annual Report
Last10K.com Member Feature

Read positive and negative remarks made by management in their entirety without having to find them in a 10-K/Q.

Continue

Widen Your SEC Filing Reading Experience


Increased Reading Area for SEC Filings
Screenshot taken from Adobe Inc.'s 10-Q Quarterly Report
Last10K.com Member Feature

Remove data columns and navigations in order to see much more filing content and tables in one view

Continue

Uncover Actionable Information Inside SEC Filings


SEC Filing Disclosures
Screenshot taken from Lumber Liquidators 10-K Annual Report
Last10K.com Member Feature

Read both hidden opportunities and early signs of potential problems without having to find them in a 10-K/Q

Continue

Adobe PDF, Microsoft Word and Excel Downloads


Download Annual and Quarterly Reports as PDF, Word and Excel Documents
Screenshots of actual 10-K and 10-Q SEC Filings in PDF, Word and Excel formats
Last10K.com Member Feature

Export Annual and Quarterly Reports to Adobe PDF, Microsoft Word and Excel for offline viewing, annotations and analysis

Continue

FREE Financial Statements


Download Annual and Quarterly Reports as PDF, Word and Excel Documents
Screenshot of actual balance sheet from company 10-K Annual Report
Last10K.com Member Feature

Get one-click access to balance sheets, income, operations and cash flow statements without having to find them in Annual and Quarterly Reports

Continue for FREE

Intrinsic Value Calculator


Intrinsic Value Calculator
Screenshot of intrinsic value for AT&T (2019)
Last10K.com Member Feature

Our Intrinsic Value calculator estimates what an entire company is worth using up to 10 years of financial ratios to determine if a stock is overvalued or not

Continue

Financial Stability Report


Financial Stability Report
Screenshot of financial stability report for Coco-Cola (2019)
Last10K.com Member Feature

Our Financial Stability reports uses up to 10 years of financial ratios to determine the health of a company's EPS, Dividends, Book Value, Return on Equity, Current Ratio and Debt-to-Equity

Continue

Get a Better Picture of a Company's Performance


Financial Ratios
Available Financial Ratios
Last10K.com Member Feature

See how over 70 Growth, Profitability and Financial Ratios perform over 10 Years

Continue

Log in with your credentials

or    

Forgot your details?

Create Account