TravelCenters of America LLC (NYSE:TA) Q2 2020 Earnings Conference Call - Final Transcript
Aug 05, 2020 • 10:00 am ET
Peter J. Crage
second quarter, well ahead of our expectations, with approximately only $1.8 million remaining to be collected.
As of June 30, 2020, we owned 50 travel centers, four standalone restaurants and a standalone truck service facility that were unencumbered by debt. We successfully financed one location in West Greenwich in February of this year at an attractive rate, and continue to evaluate opportunities for additional financings on owned locations. Lastly, we invested $10.9 million in capital expenditures during the quarter, bringing the year-to-date total to $27.6 million. We've also revised our 2020 capital investment plan to be approximately $68 million, as we have deferred all non-essential projects to 2021 in order to preserve capital and maintain our financial flexibility.
However, now that we have closed on our equity raise, we are carefully considering projects to improve facilities and our IT systems infrastructure, consistent with our planned use of these funds, including those that could potentially be deployed in the latter part of this year.
And that concludes our prepared remarks, operator, and we're now ready to take questions.