Shares of TravelCenters Of America (NASDAQ:TA) were unchanged at $10.16 after the company reported Q1 results.Quarterly Results Earnings per share were down 402.78% year over year to ($1.81), which missed the estimate of ($0.68).Revenue of $1,303,000,000 lower by 8.69% year over year, which missed the estimate of $1,400,000,000.Outlook TravelCenters Of America hasn't issued any earnings guidance for the time being.TravelCenters Of America hasn't issued any revenue guidance for the time being.Details Of The Call Date: May 05, 2020View more earnings on TAWebcast URL: https://78449.choruscall.com/dataconf/productusers/ta/mediaframe/36742/indexr.htmlRecent Stock Performance Company's 52-week high was at $19.64Company's 52-week low was at $3.35Price action over last quarter: down 19.68%Company Description TravelCenters Of America Inc is a US-based company which operates travel centers and standalone restaurants. It operated or franchised several travel centers, few standalone truck service facilities, and some standalone restaurants. The company's customers include trucking fleets and their drivers, independent truck drivers, highway and local motorists and casual diners. It generates revenue from fuel operations, non-fuel operations, rents, royalties and other fees from tenants and franchisees. The majority of its revenue is derived from fuel operations from the United States.See more from Benzinga * Recap: P.H. Glatfelter Q1 Earnings * Primoris Services: Q1 Earnings Insights * Recap: Welbilt Q1 Earnings(C) 2020 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.

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TravelCenters of America has been struggling lately, but the selling pressure may be coming to an end soon.

TravelCenters (TA) delivered earnings and revenue surprises of 11.88% and 0.32%, respectively, for the quarter ended December 2019. Do the numbers hold clues to what lies ahead for the stock?

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TravelCenters of America Inc . (NASDAQ: TA ) reported higher fourth-quarter net income Tuesday from the restoration of the federal biodiesel blending tax credit and selling 5.3% more diesel fuel and gasoline. ...

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Travel Centers of America Inc. (NASDAQ: TA) reported stronger profits and sales for the third quarter as it added locations and sold more fuel at higher prices. "We believe our strategy is working, although freight market headwinds somewhat tempered the growth in our business," said Andrew J. Rebholz, TA CEO. The nation's largest operator of full-service travel centers branded as TA and Petro Shopping Centers reported higher total and same site fuel sales volume and non-fuel revenues.

TravelCenters (TA) doesn't possess the right combination of the two key ingredients for a likely earnings beat in its upcoming report. Get prepared with the key expectations.

Travel Centers of America Inc. (NASDAQ: TA), which operates more than 240 truck centers in 43 states, reported higher net income and revenues for the second quarter despite earning less on fuel sales and truck maintenance. "We believe that through the first six months of 2019 our strategy to refocus our efforts on our core travel center operations have been successful," said Andrew J. Rebholz, TA's CEO. TA signed franchise agreements for five additional travel centers during the second quarter.

TravelCenters (TA) delivered earnings and revenue surprises of -166.18% and -7.16%, respectively, for the quarter ended March 2020. Do the numbers hold clues to what lies ahead for the stock?

Travel plazas essential to truckers hauling critical freight during the coronavirus pandemic are balancing social distancing and serving hungry drivers and those wanting a shower.With the suspension of federal hours-of-service regulations for critical medical and other cargo, independent travel plazas and those operated by Pilot and Flying J, Love's Travel Stops & Country Stores, and TravelCenters of America are operating as pit stops as well as for longer layovers.TravelCenters on Monday closed the sit-down service areas of many of its Iron Skillet and Quaker Steak & Lube full-service restaurants. Carryout remained available. Quick-service restaurants like Subway were still available for drive-thru service.Love's has a task force monitoring COVID-19 and developed protocols to preserve regular business, including increased cleaning and disinfecting efforts with greater focus on handwashing for customers and employees via additional hand-sanitizing stations."We have always been committed to providing safe, clean and well-maintained stops that help get our drivers back on the road quickly, and we'll continue to make that our priority," Love's spokeswoman Caitlin Campbell said.Prepackaged condiments replace self-serve stations for ketchup, mustard and other fixings. Pilot and Love's customers are being asked to use a new cup to get a drink or refill, and transfer liquid from a store cup to their personal cup or mug instead of filling it directly."In addition, we provide hand sanitizer dispensers for public use near the restrooms at our locations," Campbell said.TA-Petro locations temporarily suspended buffets, soup and salad bar offerings. A few locations remain open depending on state and local guidelines. The majority offer all menu items as to-go orders. Grab-and-go options are still available. California is restricting restaurant occupancy to 50% of capacity. Illinois prohibits inside restaurant pickup orders."We strongly believe this action is essential for your safety and the safety of all our team members, and we are extremely grateful for your understanding during this time," TA wrote on its website.Image Sourced from PixabayTA also said it is taking extra precautions with what it called already strict cleaning protocols. Tables, menus, chairs, booths, counters, and all dishes, utensils and cooking surfaces are being cleaned more often with best-in-class, food-safe cleaners to disinfect and sanitize common touch points within the restaurants. For now, shower facilities that long-haul truckers reserve remain unaffected. Pilot said it is cleaning showers after each use with degreaser, disinfectant and floor cleaner, and washing guest towels separately from service towels after each use.TA shower service is operating as normal, spokeswoman Tina Arundel told FreightWaves.See more from Benzinga * Vehicle Electrification Is Not Just About Reducing Emissions * Dry-Bulk Derivatives Are Flashing Red On World Economy * Breaking: Canada Locks Down Borders — But Not For Freight — As Crisis Worsens(C) 2020 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.

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TravelCenters of America (NASDAQ: TA) is laying off more than 3,000 employees because its full-service restaurants are closed and stay-at-home orders have all but dried up business from non-trucking motorists.TA, which operates  260 TA, Petro Stopping Centers and TA Express travel centers in 44 states and Canada, is furloughing approximately 2,900 field employees and about 122 corporate employees. Total company employment is 21,000."This decision was very difficult, but these are unprecedented times," said TA CEO Jon Pertchik, a veteran turnaround expert hired in December 2019. "We believe this step is necessary to preserve the long-term success of our company and to ensure our essential services remain available for the millions of professional drivers who rely on us daily,"The coronavirus pandemic has caused many state and local governments to close or severely limit non-essential services, including full-service restaurants. TA said in March that parts of its business may not be considered essential during the health crisis. That is playing out for its full-service restaurants.All TA locations remain open, providing fuel, showers, restrooms, quick-serve restaurants and convenience stores to truck drivers hauling essential freight like food for grocery stores and medical supplies.All furloughed employees currently enrolled in TA's benefits programs will continue to be eligible for healthcare coverage based on their plan. Impacted employees are eligible to apply for enhanced unemployment benefits under the  Coronavirus Aid, Relief, and Economic Security (CARES) Act.TA is the only publicly traded travel plaza operation among the three largest truck stop operators. Pilot Company and Love's Travel Stops & Country Stores did not immediately comment on whether they have or are laying off employees.See more from Benzinga * USPS Halting International Services In 72 Countries * FBX Report: April 16, 2020 * Updated: Marten's Dedicated Division Keeps Company Steady Overall In First Quarter(C) 2020 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.

Since he is always an outsider, veteran turnaround expert Jon Pertchik begins every new project trying to figure out what the business does for a living.Named CEO of TravelCenters of America (NASDAQ: TA) three months ago Pertchik is still discovering what's right and wrong with the operator of more than 260 TA, Petro Stopping Centers and TA Express locations in 44 states and Canada."I'm a process person. I'm new to this industry, but this is the fourth company I've had a role like this, where I was new to it when I got there. The others went pretty well," the 52-year-old told FreightWaves in an interview.Most recently, Pertchik was CEO of Intown Suites, the largest wholly owned extended-stay hotel chain in the United States. On his four-year watch, the number of properties grew from 134 to 189. Earnings before interest, taxes, depreciation and amortization (EBITDA) doubled through disciplined cost control and growth initiatives.A dozen years ago during the Great Recession, Pertchik was chief restructuring officer at WCI Communities. He steered the publicly traded homebuilder, high-rise developer, and mortgage and title company through Chapter 11 bankruptcy, shedding $2 billion in debt."That was riddled with fear," he said. "This is nothing like that. There's zero fear. I can visualize the steps that need to happen here. It's just a matter of putting one foot in front of the other to get there."Wanted: Vision And Values On a Feb. 25 call with analysts to discuss fourth-quarter and 2019 results, Pertchik listed myriad challenges facing TA: expenses rising faster than revenue, a lack of centralized purchasing to take advantage of scale, aging restaurant concepts and inconsistent merchandising in its convenience stores.But the biggest gap, he said in the interview, is the lack of a clear identity."The company hasn't had a mission, vision or values statements in probably a decade," Pertchik said. "That's a huge thing. It's not just some kind of fluffy, marketing speak. It's not some kind of ‘Who do we want to be?' and grab something from the sky externally. It's really an introspective perspective."C-Suite Changes Pertchik brought in Peter Crage, formerly chief financial officer of Diamond Resorts, a $1 billion private equity-owned organization with 350-plus vacation destinations in 35 countries, as CFO on March 2.Around the same time, TA President Barry Richards gave up the role of chief operating officer so Pertchik could hire someone "to go chase down things that are underperforming."Both moves speak to Pertchik's belief that the best organizations grow their own talent and hire outsiders who bring fresh perspectives.He avoided criticizing past leaders but admitted his senior leadership team may interpret some of his comments as disparaging or critical of what went before him."I just want to get things done and go kick some butt," Pertchik said. "And have the team around me to do it."Shares in TA rose dramatically upon Pertchik's hiring. Other than a coronavirus-related dip that punished almost all equities, TA shares (SONAR/Stock.TA) have held the gain.Shares in TravelCenters of America rose dramatically after Jon Pertchik became CEO in December 2019. (FreightWaves SONAR/Stock.TA)Engaging Employees Pertchik spent his first three months reaching out to the company's 21,000 employees — "from porters cleaning our truck stops to senior leadership and everybody in between" — trying to learn what they think of the company.Draft results of an employee engagement survey found some good news. Overall, employees rate TA about 3 percentage points higher than the industry average for competitors like Love's Travel Stops & Country Stores and the Pilot Co., the industry-leading parent of the Pilot and Flying J brands.Respect The Tech But TA's repair and service technicians rate the company about 10 points lower than other employees. Pertchik said that is consistent with what he hears during field visits."The level of respect our techs sense or feel is not what it should be," Pertchik said.That helps explain a turnover "significantly north of 50%," similar to the industry at large but a detriment to TA, where heavy repair of trucks is a hallmark along with light maintenance, oil changes and tire sales.Additional technician training is planned to slow the revolving door. But Pertchik said a key to retention is getting the broader team, particularly site managers, past the idea that technicians are relegated to "the dirty room in the back."It's more of a cultural phenomenon," he said. "There are a lot of things we can do to effect that. Some of this is science and some of it is art, and we'll be focused on both."‘Eating Our Lunch'Holding share in the service business got tougher last year.Navistar International Corp. (NYSE: NAV) and Love's signed a service partnership agreement in March 2019 that added 326 locations and 1,300 technicians to Navistar's service network. Love's and Speedco service locations handle an array of work covered by Navistar warranties.  "I think that was a really solid move for them, and I think to some extent they have been eating our lunch," Pertchik said. "It is more of the commodity stuff, but nonetheless they are taking share away and that's what we're famous for. It's what we do best."In November 2019, meanwhile, Pilot launched the One9 Fuel Network, a nationwide fueling network aimed at smaller fleets that includes access to credit and reward benefits with a variety of travel center brands.TA has a long strategic relationship with Daimler Trucks North America. Pertchik hopes to leverage that and relationships with TA's larger fleet customers to create an "innovation lab" to  address training protocols and "technology threats that are starting to change this industry."Franchise Growth Love's, which plans 40 new stores in 2020, and Pilot, which plans 20, are adding "dots on the map" faster than TA, which needs to catch up."The most efficient way to do that is not to build ground-up truck stops but to convert existing independent truck stops in great locations that are good quality to the TA model," Pertchik said.While he acknowledges the approach is not unique, Pertchik thinks the value proposition for independent truck stops joining TA is appealing because they would gain access to large fleet business they currently lack. Franchise candidates can be large or small truck stops. A subset would be independent repair shops."We're seeing a ton of interest, and we're scrubbing that very carefully," Pertchik said. "I don't think we're going to have too much trouble adding dots to the map. And quality dots at that."Hopping On IHOP Before Pertchik came on board, TA signed a deal to replace up to 94 of its full-service travel center restaurants with International House of Pancakes (IHOP) locations over the next five years. Twenty of those expect to come on line this year as permits are secured. The first has opened in south Atlanta, a neighborhood of the Georgia capital.Though he is changing many things, Pertchick loves the IHOP arrangement.While truckers are satisfied with TA's Country Pride and Iron Skillet restaurants, the average consumer most often drives by."I hope and believe we're going to see a big uptake in [passenger vehicles] that'll cross-pollinate: ... the soccer mom or dad or the family after church on Sunday, if they're in the area, will pull in."TA might sell a few extra tanks of gas after pancakes."I'm scouring the opportunities within our QSR [quick service restaurant] world to see what we can do better," Pertchik said. "That's kind of modeled after the IHOP decision, which was a great one."Image Sourced from PixabaySee more from Benzinga * Rose Rocket Announces Integration Of Order Management Platform With Geotab * BREAKING: FMCSA Likely To Grant Hours Of Service Waiver For All Of The US * Truck Makers Maintain Production But Wary Of Supply Chain Issues(C) 2020 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.

Travel Centers of America (NASDAQ: TA ) appointed Jonathan Pertchik, a veteran of several business transformations, as CEO and managing director on Dec. 16. He immediately replaces Andrew Rebholz, who ...