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Earnings Call Summary | PARKLAND CORPORATION(PKIUF.US) Q1 2024 Earnings Conference

Futu News ·  May 5 06:08  · Conference Call

The following is a summary of the Parkland Corporation (PKIUF) Q1 2024 Earnings Call Transcript:

Financial Performance:

  • Parkland reported a Q1 adjusted EBITDA of $327 million, 17% lower than last year. However, the Canadian and USA segments saw a rise in adjusted EBITDA by 14% and 57% respectively.

  • The company generated an available cash flow of $770 million in the past 12 months, a 20% increase from Q1 2023.

  • Parkland incurred a loss of $32 million in the Refining segment, $70 million lower than last year.

  • Parkland raised its per-share cash flow to $4.38; a 16% increase.

Business Progress:

  • Parkland is executing several supply optimization initiatives to counter impacts of an unplanned shutdown of the Burnaby Refinery.

  • The company maintains its annual adjusted EBITDA guidance at $1.95 billion to $2.05 billion for 2024.

  • Parkland is focusing on portfolio optimization and has identified over $400 million of non-core assets for disposition and putting the capital gained to better yielding businesses.

  • Their retail business grew by 13%, proving the efficiency of their organic growth investments.

  • Finally, Parkland aims to reach $100 million in run rate savings by the end of the year and targets $8.50 of available cash flow per share by 2028.

More details: PARKLAND CORPORATION IR

Tips: For more comprehensive details, please refer to the IR website. The article is only for investors' reference without any guidance or recommendation suggestions.

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