CST Brands’ profits fell 28% during fourth quarter

CaptionCloseCST Brands Inc.’s profits tumbled 28 percent in the fourth quarter as it nears the completion of a merger with the Canadian parent company of Circle K.The San Antonio-based convenience store operator, which runs the Corner Store brand of...

CST Brands’ profits fell 28% during fourth quarter

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CST Brands Inc.’s profits tumbled 28 percent in the fourth quarter as it nears the completion of a merger with the Canadian parent company of Circle K.

The San Antonio-based convenience store operator, which runs the Corner Store brand of stores, reported $18 million in net income, or 23 cents per share, during the three-month period ending Dec. 31 — less than the $25 million, or 34 cents a share, in net income the company made during the same period last year.

CST attributed the decline in profit to a 25 percent decrease in motor fuel gross profits at its U.S. stores, the company said Monday.

Analysts had projected CST would make about $27.9 million in net income, or 36 cents a share, during the fourth quarter.

This is a developing story. Check back with mySA.com and ExpressNews.com for updates.

jfechter@express-news.net

Twitter: @JFreports

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