Parkland Corp.'s third-quarter earnings double on strong refinery performance

The Calgary-based company reported net earnings of $230 million, or $1.31 per share, for the three months ended Sept. 30, up from $105 million in the same period of 2022.

On an adjusted basis, Parkland earned $231 million, nearly five times its third-quarter 2022 adjusted earnings. The company reported sales and operating revenue of $8.9 billion, down from $9.4 billion in the third quarter of last year. Parkland's Burnaby refinery delivered adjusted earnings of $188 million, up more than 39 per cent from the prior year's quarter in part due to record refinery utilization and record co-processing volumes.

Parkland says it now expects to exceed its previously announced 2023 adjusted earnings guidance range of $1.8 to $1.85 billion, thanks to favourable refinery margins and strong utilization, as well as strength in its international business.The Canadian Press

Nigeria Nigeria Latest News, Nigeria Nigeria Headlines

Similar News:You can also read news stories similar to this one that we have collected from other news sources.

Parkland Corp.'s third-quarter earnings double on strong refinery performanceFuel retailer Parkland Corp. says its third-quarter earnings more than doubled in 2023 thanks to favourable market conditions and the company's ongoing efforts to optimize its Burnaby refinery.
Source: BNNBloomberg - 🏆 83. / 50 Read more »

Parkland Corp.'s third-quarter earnings double on strong refinery performanceCALGARY — Fuel retailer Parkland Corp. says its third-quarter earnings more than doubled in 2023 thanks to favourable market conditions and the company's...
Source: YahooFinanceCA - 🏆 47. / 63 Read more »

Toronto Stock Exchange: Active Companies and Deals with Telus Corp. and Cameco Corp.A roundup of the most active companies traded on the Toronto Stock Exchange, including First Quantum Minerals, Enbridge Inc., and Tamarack Valley Energy. Telus Corp. announces a deal with Flo to improve reliability of electric vehicle charging network, while Cameco Corp. sees an increase in shares.
Source: SooToday - 🏆 8. / 85 Read more »