CST Brands Provides Preliminary Q4 Financial Results

corner StoreCST Brands currently expects to report fourth quarter and full year 2013 results in early March.

CST Brands Inc. provided an update to previous guidance related to its fourth quarter 2013 operating results.

The company originally provided this information on its conference call to discuss its third quarter 2013 financial results on Monday, Nov. 4, 2013.

Although financial statements of CST Brands for the three months ended Dec. 31, 2013 are not yet complete, certain preliminary financial information is available. Based on such preliminary financial information, the following is being provided:

U.S. Segment

    Motor fuel volume, on a gallons-per-site-per-day basis, is expected to be close to the low end of the previously provided guidance of 4,850 to 4,950 gallons per site per day.

    Merchandise sales, on a per site per day basis, is expected to be close to the low end of the previously provided guidance of $3,250 to $3,350 per site per day.

    Merchandise gross margin percentage, after the deduction of credit card fees, is expected to be slightly above the high end of the previously provided range of 29-30%.

    Although guidance was not previously provided with regard to motor fuel gross margin (cents per gallon), the Company expects fourth quarter cents per gallon, after the deduction of credit card fees, to be in the range of 14-16 cents per gallon.

Canada Segment

    Motor fuel volume, on a gallons-per-site-per-day basis, is expected to be close to the low end of the previously provided guidance of 3,300 to 3,400 gallons per site per day.

    Merchandise sales, on a per site per day basis, is expected to be close to the low end of the previously provided guidance of $2,500 to $2,600 per site per day.

    Merchandise gross margin percentage, after the deduction of credit card fees, is expected to be slightly above the high end of the previously provided range of 27-28%.

    Although guidance was not previously provided with regard to motor fuel gross margin (cents per gallon), the Company expects fourth quarter cents per gallon, after the deduction of credit card fees, to be in the range of 23-25 cents per gallon.

It is anticipated that the effective tax rate for the fourth quarter will be in the 34-36% range.

CST Brands currently expects to report fourth quarter and full year 2013 results in early March. Details regarding the specific date, time, conference call and Webcast information for the earnings report will be provided at a later date.

Retail Store Update

During the fourth quarter, the company opened two new stores in the U.S. and five new stores in Canada. For the full year 2013, CST Brands opened 15 new stores in the U.S. and seven new stores in Canada.

As of Dec. 31, the company operated a total of 1,036 sites in the U.S. and 846 sites in Canada (272 company-operated, 499 dealer/agent (fuel only) and 75 cardlock (fuel only)).

CST Brands employs nearly 12,000 team members at nearly 1,900 locations throughout the Southwestern U.S. and Eastern Canada.

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