Parkland Corp (TSX:PKI)

C$ 32.59 -0.32 (-0.97%) Market Cap: 5.66 Bil Enterprise Value: 11.62 Bil PE Ratio: 23.96 PB Ratio: 1.79 GF Score: 76/100

Q3 2024 Parkland Corp Earnings Call Transcript

Oct 31, 2024 / 12:30PM GMT

Release Date Price: C$32.4 (-4.23%)

Transcript

Marcel Teunissen

Parkland Corporation - Chief Financial Officer

Thank you everyone.

In the third quarter, Parkland delivered adjusted EBITDA of C$431 million in Canada adjusted EBITDA was C$200 million which is slightly below Q3 2023. Adjusting for onetime benefit. In the prior year, we saw a 4% increase year over year in our underlying business, fuel margins remain strong driven by continued price and supply optimization.

We also saw same store volumes growth of 1.4%. This demonstrates the strength of our company owned network and the positive impact of our journey loyalty program and on the run conversions, our business is built to adapt to changing economic conditions. This allows us to evolve our value proposition to meet customers' needs as economic pressure shifts, private label business was up 12% compared to prior year and we continue to leverage a journey to attract customers into our sites with targeted fuel incentives in store convenience offers and cross promotions between the forecourt and convenience stores. During the quarter, we launched alcohol sales at 80 sites in

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