Petro Stopping Centers Third Quarter Results Positive

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Petro Stopping Centers Third Quarter Results Positive

11/15/2006
EL PASO, Texas -- Petro Stopping Centers, L.P. announced its operating results for the third quarter ended September 30, 2006. The company reported net revenue for the third quarter of 2006 at $571.7 million, which was $62.6 million, or 12.3 percent higher than the same period in 2005. The increase in revenue was driven primarily by a 12.5 percent increase in the average retail selling price per fuel gallon, improved non-fuel sales, and the addition of new sites.

Additionally, compared to the same period last year, EBITDA increased 12.9 percent to $21.3 million and net income of $10.9 million was $2.3 million more than the same period in 2005. No provision for federal income taxes is reflected in the company's consolidated financial statements because of its organization as a partnership, according to a company release.

Petro Stopping Centers, L.P. is a leading owner and operator of large, multi-service truck stops. Since opening the first Petro Stopping Center in 1975, the nationwide network has grown to 66 facilities located in 32 states. Of these locations, 43 are company-operated facilities and 23 are franchised facilities. Petro offers a broad range of products, services, and amenities, including diesel fuel, gasoline, home-style Iron Skillet(R) restaurants, Petro:Lube(R) truck service centers, and travel and convenience stores.