Calgary, Alberta, Canada – Parkland Corporation recently held its Q1 2024 Earnings Conference Call, where key company figures discussed their financial performance.

Valerie Roberts, Director of Investor Relations at Parkland, led the call, along with Robert Espey, President & CEO; Marcel Teunissen, Chief Financial Officer, and Ian White, President of Canada. The conference call was attended by various notable analysts from firms such as CIBC, Scotiabank, Goldman Sachs, Raymond James, and JPMorgan.

During the call, the Parkland team highlighted the challenges faced in the first quarter of 2024 due to unexpected factors like extreme cold weather in British Columbia and natural gas supply curtailment leading to the shutdown of the Burnaby Refinery. Despite these challenges, the team managed to rally together, ensuring the safe return of operations by the end of March.

The company’s strategy, focusing on customer and supply advantages, was discussed as a crucial factor in their success. The diversified business model of Parkland, providing essential products in 26 countries, is seen as a stable platform for growth and execution of their ambitious goals for 2028.

Marcel Teunissen, in discussing Q1 highlights, mentioned the operational KPIs showing benefits of consistent execution and organic growth investments. The company-owned same-store fuel volumes saw significant growth, outpacing the market, and various initiatives in the retail and commercial business segments aimed at driving sales and improving margins.

The team also addressed the outlook for the rest of the year, maintaining their adjusted EBITDA guidance for 2024. Efforts to make up for the shortfall from the unplanned refinery shutdown include importing renewable diesel, leveraging storage positions, and implementing strategies to improve margin and market share.

Overall, Parkland remains focused on its strategic goals, including divesting non-core assets, reducing leverage, and enhancing operational efficiencies to deliver strong results in the coming years. With confidence in their team and strategies, Parkland is positioned for continued growth and success in the future.