CALGARY – Parkland Corp. says it earned $70 million in the second quarter, down from $78 million a year earlier.
The company’s sales and operating revenue was $7.5 billion, down from $7.8 billion during the same quarter in 2023.
Diluted earnings per share were 39 cents, down from 43 cents last year.
Parkland revised its guidance for adjusted earnings before interest, taxes, depreciation and amortization for the year to $1.9 billion, down from $2 billion.
It attributed the softer guidance to the unplanned shutdown at its Burnaby refinery in the first quarter, and unfavourable market conditions that it says could persist throughout the year.
The company’s refinery in Burnaby, B.C., saw a shutdown in January due to extreme cold weather.
This report by The Canadian Press was first published July 31, 2024.
Companies in this story: (TSX:PKI)
