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Parkland
(TSX:PKI)
Parkland (PKI) vs. iShares MSCI Canada ETF (EWC)
Parkland Business Overview & Revenue Model
Parkland Financial Statement Overview
| Breakdown | |||||
| TTM | Dec 2024 | Dec 2023 | Dec 2022 | Dec 2021 | Dec 2020 |
|---|---|---|---|---|---|
| Income Statement | Total Revenue | ||||
| 28.18B | 28.30B | 32.45B | 35.46B | 21.47B | 14.01B | Gross Profit |
| 2.94B | 2.89B | 3.15B | 3.28B | 2.34B | 1.73B | EBIT |
| 793.00M | 757.00M | 930.00M | 1.25B | 788.00M | 394.00M | EBITDA |
| 1.48B | 1.32B | 1.70B | 1.47B | 1.08B | 1.02B | Net Income Common Stockholders |
| 196.00M | 127.00M | 471.00M | 310.00M | 97.00M | 112.00M |
| Balance Sheet | Cash, Cash Equivalents and Short-Term Investments | ||||
| 387.00M | 385.00M | 387.00M | 653.00M | 284.00M | 262.00M | Total Assets |
| 13.87B | 14.04B | 13.87B | 14.29B | 11.55B | 9.09B | Total Debt |
| 6.36B | 6.64B | 6.36B | 6.97B | 5.56B | 4.16B | Net Debt |
| 5.97B | 6.26B | 5.97B | 6.32B | 5.27B | 3.90B | Total Liabilities |
| 10.69B | 10.88B | 10.69B | 11.25B | 9.22B | 6.83B | Stockholders Equity |
| 3.18B | 3.17B | 3.18B | 3.04B | 1.97B | 1.92B |
| Cash Flow | Free Cash Flow | ||||
| 915.00M | 960.00M | 1.30B | 823.00M | 508.00M | 589.00M | Operating Cash Flow |
| 1.50B | 1.53B | 1.78B | 1.33B | 904.00M | 934.00M | Investing Cash Flow |
| -524.00M | -524.00M | -516.00M | -1.23B | -1.51B | -515.00M | Financing Cash Flow |
| -1.03B | -1.04B | -1.57B | 276.00M | 655.00M | -367.00M |
Parkland Technical Analysis
Parkland Peers Comparison
Name | Overall Rating | Market Cap | P/E Ratio | ROE | Dividend Yield | Revenue Growth | EPS Growth |
|---|---|---|---|---|---|---|---|
77 Outperform | C$9.62B | 17.63 | 19.55% | 4.90% | 8.00% | 52.89% | |
76 Outperform | $10.44B | 5.50 | 16.40% | 8.56% | 5.56% | 35.85% | |
73 Outperform | $3.69B | 22.69 | 17.23% | 7.36% | -5.85% | -8.05% | |
73 Outperform | C$6.68B | 34.03 | 6.21% | 3.69% | -9.79% | -49.13% | |
68 Neutral | C$3.86B | 70.56 | 4.22% | 5.24% | 2.02% | 12.06% | |
65 Neutral | C$5.44B | 24.37 | 8.39% | 4.36% | 1.73% | 3.68% | |
57 Neutral | $7.06B | 3.07 | -3.45% | 5.82% | 0.59% | -50.58% |
Parkland Earnings Call Summary
Parkland Corporate Events
Parkland Corporation reported a recovery in its first quarter of 2025, overcoming challenges from the previous year, including a significant impact from exiting the California compliance market. The company achieved an adjusted EBITDA of $375 million, driven by strong performance in its international segment and improved refining margins. Despite macroeconomic and regulatory challenges, Parkland’s diverse portfolio showed resilience, with notable growth in the international segment and a robust driving season anticipated in Canada. However, the company faced a decrease in adjusted EBITDA in its Canadian and USA segments due to strategic decisions and market conditions.
Sunoco LP has announced a definitive agreement to acquire Parkland Corporation in a transaction valued at approximately U.S.$9.1 billion. This acquisition is expected to create the largest independent fuel distributor in the Americas, offering significant financial benefits and operational synergies. The deal includes a 25% premium for Parkland shareholders and promises continued investment in Canadian operations, including maintaining the Calgary headquarters and investing in Parkland’s refinery. The transaction is expected to close in the second half of 2025, subject to regulatory approvals.
Institutional Shareholder Services Inc. (ISS) has expressed support for Parkland’s current board of directors, raising concerns about Simpson Oil Limited’s attempt to gain control. ISS criticized Simpson’s lack of detailed strategy and leadership planning, recommending against their nominee for interim CEO. Parkland’s board, endorsed by ISS, is seen as well-structured to continue strategic initiatives and deliver shareholder value. Shareholders are urged to vote for Parkland’s nominees to ensure experienced governance and value maximization.
Parkland Corporation has announced the release date for its 2025 first quarter results, which will be shared after market close on May 5, 2025, followed by a webcast and conference call on May 6, 2025. The company will also hold its Annual General Meeting of Shareholders on the same day, urging shareholders to vote using the BLUE Proxy for director nominees. This announcement is part of Parkland’s ongoing efforts to engage with stakeholders and maintain transparency in its operations, potentially impacting its market positioning and shareholder relations.
Parkland Corporation has published a presentation to counter claims by Simpson Oil Limited, asserting that Parkland’s independent and experienced Board is best suited to lead the company’s Strategic Review and maximize shareholder value. The company criticizes Simpson’s attempt to gain control without offering a premium and highlights the lack of qualifications and independence in Simpson’s proposed board nominees. Parkland emphasizes its commitment to delivering long-term value for all shareholders and accuses Simpson of prioritizing personal financial interests over those of other shareholders.
Parkland Corporation announced that Bob Espey will step down as President and CEO, with Michael Jennings appointed as Executive Chair. The company is undergoing a strategic review to maximize shareholder value, considering options like asset divestments and business combinations. Preliminary Q1 2025 results show an expected Adjusted EBITDA of $375 million, with challenges from macroeconomic and regulatory volatility affecting operations, particularly in the U.S. and California.
Parkland Corporation, a company involved in the energy sector, has announced the filing of its management information circular for the upcoming annual general meeting of shareholders. The company has added three nominees from Simpson Oil Limited to its board slate, including one on the special committee overseeing a strategic review. This move comes amid Simpson’s attempt to nominate nine directors, which Parkland views as a bid to gain control without a premium. Parkland has also appointed Brad Monaco as the permanent Chief Financial Officer, highlighting his strong leadership and strategic capabilities.
Parkland Corporation has strengthened its Board of Directors by appointing Felipe Bayon and Sue Gove as independent directors. This move is part of Parkland’s ongoing commitment to strong corporate governance and board renewal. Bayon brings extensive experience from the global energy sector, while Gove offers deep retail sector expertise. Their appointments are expected to provide valuable insights as Parkland undergoes a strategic review aimed at maximizing shareholder value. Over the past two years, Parkland has added six independent directors to ensure a blend of expertise and fresh perspectives.
Parkland Corporation has announced a dividend of $0.36 per share for the first quarter of 2025, payable on April 15 to shareholders of record as of March 21. This announcement highlights Parkland’s ongoing commitment to delivering value to its shareholders and reflects its stable financial performance. The dividend, classified as an ‘eligible dividend’ for Canadian tax purposes, underscores the company’s robust operational capabilities and strategic positioning in the fuel distribution and convenience retail industry.
Parkland Corporation reported its financial results for the fourth quarter and year-end 2024, highlighting an adjusted EBITDA of $428 million for the quarter and $1,690 million for the full year. Despite challenges in the refining and USA segments, Parkland’s retail and commercial businesses showed resilience. The company announced a strategic review to explore opportunities for maximizing shareholder value, which may include asset divestments or a sale of the company. This review is driven by the belief that the current share price does not reflect the company’s intrinsic value. Parkland’s liquidity improved significantly by year-end 2024, although its leverage ratio increased due to lower EBITDA and unfavorable currency translations.