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Parkland (PKI) investor relations material
Parkland Q2 2025 earnings summary
Complete event summary combining all related documents: earnings call transcript, report, and slide presentation.Executive summary
Achieved Q2 2025 Adjusted EBITDA of $508M, up $4M year-over-year, driven by improved refining margins, supply optimization, and strong Canada segment performance.
Net earnings rose to $172M in Q2 2025 (up $102M), with basic EPS of $0.99, reflecting unrealized gains on risk management contracts, revaluation of redemption options, and foreign exchange.
Sunoco LP acquisition progressing, with shareholder and court approvals in June 2025; closing expected in Q4 2025; transaction valued at $12.5B including assumed debt.
Financial highlights
Q2 2025 sales and operating revenue: $6,874M (down $630M year-over-year); H1 2025: $13,687M (down $756M year-over-year), mainly due to lower commodity prices.
Adjusted earnings per share: $0.91 basic in Q2 2025 (flat year-over-year); H1 2025: $1.28 basic (up $0.14 year-over-year).
Available cash flow per share (TTM): $3.17, down from $4.69 year-over-year, due to lower refining margins, realized compliance market losses, and higher maintenance capex.
Dividend payout ratio (TTM): 45% (up from 29% year-over-year); annual dividend increased to $1.44 per share.
Outlook and guidance
On track to meet 2025 Adjusted EBITDA guidance of $1,800M–$2,100M and capital expenditure guidance of $475M–$525M.
Guidance for available cash flow per share, leverage ratio, and Refining segment Adjusted EBITDA withdrawn due to Sunoco Transaction.
Focus remains on safety, operational execution, cost efficiencies, supply optimization, and deleveraging ahead of transaction close.
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