Fuel retailer Parkland Corp. lowers 2024 earnings forecast as consumer demand falls

A boat travels past the Parkland Burnaby Refinery on Burrard Inlet in Burnaby, B.C., on April 17, 2021. Part of the lower forecast is due to impacts from the unplanned shutdown of Parkland’s Burnaby refinery during the first quarter, the company said.lowered its earnings forecast for the year Thursday due to what it said are” ongoing weaknesses” in consumer demand that could continue through the end of 2024.

But chief financial officer Marcel Teunissen told analysts on a conference call Thursday that the overall economic environment has negatively impacted the company’s sales. In B.C., where the price of gasoline was the highest in Canada, Parkland saw its largest fuel sale volume declines.

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Fuel retailer Parkland Corp. lowers 2024 earnings forecast as consumer demand fallsCALGARY — Fuel retailer and convenience store operator Parkland Corp. lowered its earnings forecast for the year Thursday due to what it said are' ongoing weaknesses' in consumer demand that could continue through the end of 2024.
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Calgary-based fuel retailer Parkland Corp. lowers 2024 earnings forecast as consumer demand fallsThe company revised its guidance for adjusted earnings before interest, taxes, depreciation and amortization for the year to $1.9 billion, down from $2 billion.
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