Parkland sees earnings rise 40 per cent in first quarter of 2023

Parkland Corp. says it earned $77 million in the first quarter of 2023, up 40 per centfrom $55 million a year earlier.

The Calgary-based convenience store operator and fuel retailer says sales and operating revenue for the quarter ended March 31 were $8.2 billion, up 7.2 per cent from $7.6 billion during the first quarter of 2022.

Get breaking National news

For news impacting Canada and around the world, sign up for breaking news alerts delivered directly to you when they happen.

Sign up for breaking National newsletter Sign Up

By providing your email address, you have read and agree to Global News' Terms and Conditions and Privacy Policy.

Diluted earnings per share were 43 cents, up 23 per cent from 35 cents a year ago.

Adjusted earnings before interest, taxes, depreciation and amortization in Canada were down 12.6 per cent to $167 million,while international adjusted EBITDA more than doubled, to $183 million.

The company says unseasonably warm weather lowered commercial volumes in Canada, while the international market saw a boost from a variety of factors including additional volumes.

Parkland president and CEO Bob Espey said in a press release that he’s confident the company will achieve its goal of $2 billion in adjusted EBITDA by the end of 2025 without additional acquisitions.