CST Brands to Announce Fourth Quarter and Year-End 2016 Financial Results on February 27
25 1월 2017 - 6:05AM
Business Wire
CST Brands, Inc. (NYSE: CST) today announced that the company
will release its fourth quarter and year-end 2016 results after the
market closes on Monday, February 27. In light of the pending
merger with Circle K, a subsidiary of Couche-Tard, CST does not
intend to issue financial guidance regarding the company’s
projected financial performance or host a fourth quarter/year-end
earnings conference call.
As previously reported, on August 21, 2016, CST Brands entered
into an Agreement and Plan of Merger with Circle K Stores Inc., a
Texas corporation (“Circle K”). Under the terms of the merger
agreement, CST will be merged with a subsidiary of Circle K. Circle
K is a wholly owned subsidiary of Alimentation Couche-Tard Inc. The
closing of the merger is subject to certain conditions, including,
among others, the expiration or termination of applicable waiting
periods under the Hart-Scott-Rodino Antitrust Improvements Act of
1976 and receipt of clearance under the Canadian Competition Act.
CST stockholders approved the merger on November 16, 2016.
About CST Brands, Inc.
CST Brands, Inc. (NYSE: CST), a Fortune 500 Company, is one of
the largest independent retailers of motor fuels and convenience
merchandise in North America. Based in San Antonio, Texas, CST
employs over 14,000 Team Members at over 2,000 locations throughout
the Southwestern United States, Georgia, Florida, New York and
Eastern Canada offering a broad array of convenience merchandise,
beverages, snacks and prepared fresh food. In the U.S., Corner
Stores, Nice N Easy Grocery Shoppes, and Flash Foods stores proudly
sell a broad offering of branded and unbranded fuel and proprietary
baked goods and fresh food, packaged private label products, U
Force energy and sport drinks, Freestyle soft drinks and signature
ICEE drinks. In Canada, CST is the exclusive provider of Ultramar
fuel and its Dépanneur du Coin and Corner Stores sell signature
Transit Café coffee, proprietary baked goods and fresh food and
private label packaged goods. CST also owns the general partner of
CrossAmerica Partners LP, a master limited partnership and
wholesale distributor of fuels, based in Allentown, Pennsylvania.
For more information about CST, please visit www.cstbrands.com
Safe Harbor Statement
Statements made in this press release relating to future plans,
events, or financial condition or performance are "forward-looking
statements" within the meaning of the Private Securities Litigation
Reform Act of 1995. These forward-looking statements can generally
be identified by the use of words such as "expect," "plan,"
"anticipate," "intend," "outlook," "guidance," "believes,"
"should," "target," "goal," "forecast," "will," "may" or words of
similar meaning. Forward-looking statements are likely to address
matters such as the companies’ respective or combined anticipated
sales, expenses, margins, tax rates, capital expenditures, profits,
cash flows, liquidity and debt levels, as well as their pricing and
merchandising strategies and their anticipated impact and
intentions with respect to acquisitions, the construction of new
stores, including additional quick service restaurants, and the
remodeling and addition of new equipment and products to existing
stores. These forward-looking statements are based on the
companies’ current plans and expectations and involve a number of
risks and uncertainties that could cause actual results and events
to vary materially from the results and events anticipated or
implied by such forward-looking statements.
The following factors, among others, could cause actual results
and events to differ materially from those expressed or implied in
the forward-looking statements: (1) the occurrence of any event,
change or other circumstances that could give rise to the
termination of the merger agreement; (2) the inability to complete
the transactions contemplated by the merger agreement in a timely
manner or at all, including due to failure to receive necessary
governmental or regulatory approvals required to complete the
transactions contemplated by the merger agreement; (3) the risk of
not fully realizing expected synergies in the timeframe expected or
at all; (4) the risk that the proposed transactions disrupt current
plans and operations, increase operating costs, result in
management distraction and the potential difficulties in
maintaining relationships with customers, suppliers and other third
parties and employee retention as a result of the announcement and
consummation of such transactions; (5) the outcome of any legal
proceedings that may be instituted against the companies following
announcement of the merger agreement and transactions contemplated
therein; and (6) the possibility that the companies may be
adversely affected by other economic, business, and/or competitive
factors.
Any number of other factors could affect actual results and
events, including, without limitation; the ability to enhance
operating performance through in-store initiatives, store remodel
programs and the addition of new equipment and products to existing
stores; fluctuations in domestic and global petroleum and fuel
markets; realizing expected benefits from fuel supply agreements;
changes in the competitive landscape of the convenience store
industry, including fuel stations and other non-traditional
retailers located in the companies’ markets; the effect of national
and regional economic conditions on the convenience store industry
and the companies’ markets; the global financial crisis and
uncertainty in global economic conditions; wholesale cost increases
of, and tax increases on, tobacco products; the effect of regional
weather conditions and climate change on customer traffic and
spending; legal, technological, political and scientific
developments regarding climate change; financial difficulties of
suppliers, including the companies’ principal suppliers of fuel and
merchandise, and their ability to continue to supply their stores;
the companies’ financial leverage and debt covenants; a disruption
of IT systems or a failure to protect sensitive customer, employee
or vendor data; the ability to identify suitable acquisition
targets and to take advantage of expected synergies in connection
with acquisitions; the actual operating results of new or acquired
stores; the ability to divest non-core assets; environmental risks
associated with selling petroleum products; governmental laws and
regulations, including those relating to the environment and the
impact of mandated health care laws; and unanticipated legal and
other expenses. These and other risk factors are discussed in
Alimentation Couche-Tard Inc. and CST Brands, Inc.’s filings with
securities authorities in Canada and the United States,
respectively. While the companies may elect to update these
forward-looking statements at some point in the future, they
specifically disclaim any obligation to do so.
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version on businesswire.com: http://www.businesswire.com/news/home/20170124005291/en/
Investors:CST Brands, Inc.Randy Palmer, 210-692-2160Executive
Director – Investor RelationsorMedia:CST Brands, Inc.Lisa Koenig,
210-692-2659Director of CommunicationsorThe DeBerry GroupMelissa
Ludwig or Trish DeBerry, 210-223-2772
Cst Brands, Inc. (NYSE:CST)
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Cst Brands, Inc. (NYSE:CST)
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