cst brands inc (CST) Key Developments
CST Brands, Inc. Declares Quarterly Cash Dividend on Common Stock, Payable on July 15, 2015
Jun 3 15
CST Brands, Inc. announced that it’s board of directors has declared a quarterly cash dividend on the company’s common stock in the amount of $0.0625 per share. The dividend is payable on July 15, 2015 to holders of record at the close of business on June 30, 2015.
CST Brands, Inc. Presents at Citi 2015 Global Consumer Conference, May-27-2015 01:10 PM
May 22 15
CST Brands, Inc. Presents at Citi 2015 Global Consumer Conference, May-27-2015 01:10 PM. Venue: The Plaza, a Fairmont Managed Hotel, Fifth Avenue at Central Park South, New York, NY 10019, United States. Speakers: Kimberly S. Lubel, Chairman, Chief Executive Officer and President.
Imperial Oil Reportedly Mulls Sale Of 500 Of Remaining Company-Owned Esso Retail Sites
May 18 15
Imperial Oil Ltd. (TSX:IMO) is reportedly seeking to sell 500 of its remaining company-owned Esso retail sites. “Imperial Oil is moving forward on plans to sell some 500 of its remaining company-owned Esso retail sites and has begun to accept proposals from interested bidders,” according to four sources familiar with the process. “Parties interested in the assets include Parkland Fuel Corporation (TSX:PKI), Alimentation Couche-Tard Inc. (TSX:ATD.B), CST Brands, Inc. (NYSE:CST),” said the sources, who asked not to be named as they have not been cleared to discuss the matter publicly. “Local real estate developers, along with some private equity buyers, are also showing interest in the gas stations,” said two of the sources. Imperial said it has not yet decided whether it will go ahead with a sale of the outlets, stressing the process is still in its early stages.
CST Brands, Inc. Announces Unaudited Consolidated Earnings Results for the First Quarter Ended March 31, 2015
May 8 15
CST Brands, Inc. announced unaudited consolidated earnings results for the first quarter ended March 31, 2015. For the three month period ended March 31, 2015, the Company reported net income of $14 million, or $0.18 per diluted share, primarily driven by a significant increase in motor fuel gross profit during the quarter. Net income was $11 million, or $0.14 per diluted share, for the comparable period in 2014. Reflected in net income are acquisition expenses, legal expenses and professional fees of $5 million, net of tax, and a gain on the sale of assets of $3 million, net of tax, related to store divestitures for the three month period ended March 31, 2015. Excluding these items, net income would have been $16 million, or $0.20 per diluted share. Operating income was $31 million for the first quarter 2015 compared to $25 million for the first quarter 2014. EBITDA was $66 million for the three month period ended March 31, 2015 compared to $57 million for the same period in 2014. The increase in operating income and EBITDA was due primarily to an increase in motor fuel gross profit of $19 million and an increase in merchandise gross profit of $5 million in the U.S., partially offset by increases in operating expenses and general and administrative expenses of $7 million and $14 million, respectively, when compared to the same periods in 2014. Operating revenues totaled $2.2 billion for the first quarter of 2015 compared to $3.0 billion for the same period of 2014. The decrease in operating Revenue was primarily due to a decrease in the per gallon average selling price for both the U.S. Retail and Canadian Retail segments. For the quarter ended March 31, 2015, cash flow provided by operating activities totaled $58 million. Total capital expenditures, excluding acquisitions, for the three months ended March 31, 2015 and 2014 were $50 million and $43 million, respectively. Income before income tax expense was $22 million against $16 million a year ago.
CrossAmerica Partners LP to Report Q1, 2015 Results on May 08, 2015
Apr 24 15
CrossAmerica Partners LP announced that they will report Q1, 2015 results at 9:00 AM, US Eastern Standard Time on May 08, 2015