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Parkland Corp. sees earnings rise in fourth quarter despite lower sales

CALGARY — Parkland Corp. says it earned $86 million in its fourth quarter, up from $69 million a year earlier. The Calgary-based company says earnings per diluted share were 48 cents, up from 39 cents during the same quarter the year before.
Canadian Press
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A boat travels past the Parkland Burnaby Refinery on Burrard Inlet at sunset in Burnaby, B.C., on Saturday, April 17, 2021. THE CANADIAN PRESS/Darryl Dyck

CALGARY — Parkland Corp. says it earned $86 million in its fourth quarter, up from $69 million a year earlier.

The Calgary-based company says earnings per diluted share were 48 cents, up from 39 cents during the same quarter the year before. 

Sales and operating revenue was $7.7 billion, down from $8.7 billion a year earlier.

Adjusted earnings were lower in Canada and the U.S., but higher for the international segment. 

Parkland increased its quarterly dividend to 35 cents from 34 cents per common share. 

The company's Burnaby, B.C. refinery has been shut down since Jan. 21, 2024 due to an unplanned outage after extreme cold weather and technical issues. Parkland says inspections and repairs have been completed and it expects to resume normal operations at the refinery in early March.

This report by The Canadian Press was first published Feb. 27, 2024.

Companies in this story: (TSX:PKI)

The Canadian Press

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