News Americas, CALGARY, Alberta, April 03, 2019: Parkland Fuel Corporation (“Parkland”, the “Company”) (TSX:PKI) will host its Investor Day later this morning, with webcast details confirmed below.
Parkland’s executive team will be providing a business overview, update on corporate strategy and a review of Parkland’s financial outlook. Highlights of the presentation include:
- An expected growth capital investment of approximately $200 million for 2019;
- An update on Parkland’s 2020 Burnaby refinery turnaround, which has an initial cost estimate of approximately $85 million and is expected to take 8 weeks to complete. This cost estimate may vary by plus or minus 30% depending on scope finalization and discoveries made during the actual turnaround. The 2020 major turnaround was previously outlined and is considered an approximate 5-year cycle event; and
- Additional details regarding the product offerings and geographic breakdowns that contributed to Parkland 2018 Adjusted EBITDA in its various segments.
Investor Day Webcast Details
The Investor Day presentation will be webcast beginning at 9 a.m. Eastern Time (7 a.m. Mountain Time) today, and will be available using the following link:
Please connect and log in approximately 10 minutes before the beginning of the presentation. The webcast will be available for replay two hours after the conference call ends at the link above. It will remain available for one year and will also be posted to www.parkland.ca.
For analysts and investors interested in attending in person, or if you require additional information, please contact Melanie Forsyth at Melanie.Forsyth@parkland.ca.
Certain statements contained in this news release constitute forward-looking information and statements (collectively, “forward-looking statements”). When used in this news release the words “expect”, “will”, “could”, “would”, “continue”, “pursue” and similar expressions are intended to identify forward-looking statements. This news release contains forward-looking statements with respect to, 2019 growth capital estimates, 2020 turnaround costs and timing, corporate strategy and financial positions, plans and objectives of or involving Parkland. Please review the forward-looking statement in the linked presentation for further details regarding forward-looking information included in the presentation.
These statements involve known and unknown risks, uncertainties and other factors that may cause actual results or events to differ materially from those anticipated in such forward-looking statements. No assurance can be given that these expectations will prove to be correct and such forward-looking statements included in this news release should not be unduly relied upon. These forward-looking statements speak only as of the date of this news release. Parkland does not undertake any obligations to publicly update or revise any forward-looking statements except as required by securities law. Actual results could differ materially from those anticipated in these forward-looking statements as a result of numerous risks and uncertainties including, but not limited to, general economic, market and business conditions; industry capacity; competitive action by other companies; refining and marketing margins; the ability of suppliers to meet commitments; actions by governmental authorities and other regulators including but not limited to increases in taxes or restricted access to markets; changes and developments in environmental and other regulations; and other factors, many of which are beyond the control of Parkland. See also the risks and uncertainties described in “Forward-Looking Information” and “Risk Factors” included in Parkland’s Annual Information Form dated March 29, 2019 and in “Forward-Looking Information” and “Risk Factors” in the Q4 2018 MD&A, each as filed on SEDAR and available on the Parkland website at www.parkland.ca.
Non-GAAP Financial Measures
Adjusted EBITDA is a measures of segment profit. See Section 13 of the Q4 2018 MD&A and Note 24 of the 2018 Consolidated Financial Statements for a reconciliation of this measures of segment profit. Investors are encouraged to evaluate this measure and the reasons Parkland considers it appropriate for supplemental analysis.
Investors are cautioned, however, that this measures should not be construed as an alternative to net earnings determined in accordance with IFRS as an indication of Parkland’s performance. The forward-looking statements contained in this news release are expressly qualified by this cautionary statement.
About Parkland Fuel Corporation
Parkland is Canada and the Caribbean’s largest, and one of America’s fastest growing, independent suppliers and marketers of fuel and petroleum products and a leading convenience store operator. Parkland services customers in 25 countries through three channels: Retail, Commercial and Wholesale. Parkland optimizes its fuel supply across these three channels by operating and leveraging a growing portfolio of supply relationships and storage infrastructure. Parkland provides trusted and locally relevant fuel brands and convenience store offerings in the communities it serves.
Parkland creates value for shareholders by focusing on its proven strategy of growing organically, realizing a supply advantage and acquiring prudently and integrating successfully. At the core of our strategy are our people, as well as our values of safety, integrity, community and respect, which are embraced across our organization.