Parkland Corporation Overcomes Refinery Hurdles
Company Announcements

Parkland Corporation Overcomes Refinery Hurdles

Parkland Corporation (TSE:PKI) has released an update.

Parkland Corporation reported a first-quarter Adjusted EBITDA of $327 million, a 17% decrease from the previous year due to an unplanned shutdown at the Burnaby Refinery, but has since returned to normal operations. The company has made significant progress towards its target of disposing $500 million in non-core assets, with over $400 million already identified, and maintains a confident outlook on meeting its 2024 financial guidance. Despite a net loss, Parkland has seen a 23% increase in year-over-year available cash flow and continues to reward shareholders with a raised dividend.

For further insights into TSE:PKI stock, check out TipRanks’ Stock Analysis page.

Related Articles
TipRanks Canadian Auto-Generated NewsdeskParkland Reports Challenging Q3 Amid Refining Pressures
Ryan AdistIs PKI a Buy, Before Earnings?
TipRanks Canadian Auto-Generated NewsdeskParkland Corporation to Announce Q3 2024 Results
Looking for investment ideas? Subscribe to our Smart Investor newsletter for weekly expert stock picks!
Get real-time notifications on news & analysis, curated for your stock watchlist. Download the TipRanks app today! Get the App