Truck-stop operator TravelCenters of America LLC said Monday its third-quarter profit surged fourfold on higher fuel sales and lower costs.


The company earned $20.7 million, or 74 cents per share, compared with $4.5 million, or 26 cents per share, in the third quarter of 2010. Revenue rose 38% to $2.09 billion from $1.51 billion in the same quarter last year.

The travel center operator attributed its results to higher fuel sales and a reduction in rent and interest expenses becaause of the January 2011 lease amendment with Hospitality Properties Trust, or HPT. Sales of fuel make up 83 percent of TravelCenters' revenue. Total fuel sales rose 45% in the quarter.
Shares, which initially jumped following the news, were up just 5 cents to $5.05 in afternoon trading. The stock at one point reached as high as $5.55, 11% higher than it closed on Friday.

As of September 30, 2011, TA's business included 235 sites, 167 of which were operated under the "TravelCenters of America" or "TA" brand names and 68 of which were operated under the "Petro" brand name.