Parkland Corp. reports second-quarter earnings up ahead of Sunoco takeover
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Hey there, time traveller!
This article was published 06/08/2025 (234 days ago), so information in it may no longer be current.
CALGARY – Parkland Corp. says its second-quarter net earnings were up as the fuel refiner prepares for a takeover by U.S. company Sunoco LP.
The Calgary-based company says net earnings for the period ending June 30 were $172 million, up from $70 million a year ago.
Parkland says net earnings amounted to 97 cents per diluted share compared with 39 cents per diluted share a year earlier.
On an adjusted basis, the company says it earned $508 million, an increase from $504 million in the second quarter of 2024.
Chief executive Bob Espey says the firm’s Burnaby refinery helped deliver above mid-cycle refining margins, which reflect Parkland’s potential to grow as it merges with Sunoco.
The takeover is expected to be completed during the second half of this year.
This report by The Canadian Press was first published Aug. 6, 2025.
Companies in this story: (TSX: PKI)