Parkland Corp reports Q3 profits of $91M, down from $230M, cites challenging margins and unplanned refinery shutdown.
Parkland Corporation reported a significant decline in Q3 earnings, with profits of $91 million, down from $230 million last year. Revenue fell to $7.1 billion from $8.7 billion, and net earnings per share decreased from $1.28 to 52 cents. CEO Bob Espey cited challenging refining margins and an unplanned refinery shutdown as key factors. The company also plans to divest its Florida operations to focus on higher-return opportunities.
October 30, 2024
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