CST Brands Q2 Profit Drops - Quick Facts

(RTTNews) - CST Brands, Inc.(CST), a retailer of motor fuels and convenience merchandise in North America, Tuesday reported a drop in second-quarter net income, reflecting lower revenues.

For the three-month period, the company reported net income of $43 million or $0.57 per share, compared with $108 million or $1.43 per share during the same quarter last year.

Excluding a spin-related tax charge of $7 million, net income for the period was $50 million or $0.66 per share.

Revenues decreased to $3.2 billion from prior year's $3.3 billion, driven in part by a $0.17 per gallon decline in the company's average motor fuel selling price in the U.S. segment, and an average of 21 fewer retail fuel sites operating in the Canadian segment.

Total capital expenditures for the three months ended June 30 totaled $50 million, the company said in a statement.