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Edge16 Oct 2026
Winner, Winner: The Chicken McNugget Story
How a 1940s breeding contest, a Cornell food scientist, and a hedge by Ray Dalio helped McDonald's turn the Chicken McNugget into a fast-food icon.
Parkland
Parkland (PKI) investor relations material
Parkland has been acquired
Parkland Q2 2025 earnings summary
Complete event summary combining all related documents: earnings call transcript, report, and slide presentation.Q2 2025 earnings summary5 Aug, 2025
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Guidance for available cash flow per share, leverage ratio, and Refining segment Adjusted EBITDA withdrawn due to Sunoco Transaction.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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Latest events from Parkland
- Strong growth in fuel volumes, EBITDA, and sustainability leadership across 26 countries.PKI
Investor presentation - Strong financial growth, disciplined capital allocation, and sustainability drive future ambitions.PKIInvestor Presentation
- Strong growth, disciplined capital allocation, and sustainability drive robust financial performance.PKIInvestor Presentation
- Disciplined growth, robust cash flow, and sustainability drive margin expansion and shareholder value.PKIInvestor Presentation
- Record Q2 EBITDA of $504M, 2024 guidance trimmed, strong Canada/International, U.S. lags.PKIQ2 2024
- Earnings and guidance declined on weak refining margins, but retail and commercial growth continued.PKIQ3 2024
- US$9.1B deal forms the largest independent fuel distributor in the Americas.PKIM&A Announcement
- Q1 2025 Adjusted EBITDA rose 15% to $375M, with a $9.1B Sunoco acquisition announced.PKIQ1 2025
- Strategic review underway as 2024 results show resilience but refining and US weakness.PKIQ4 2024
Parkland
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Frequently asked questions
Parkland Corporation is a fuel and convenience retailer and marketer. It supplies and distributes fuels, lubricants, and related products to residential, commercial, and industrial customers and operates convenience retail and foodservice locations. The company is headquartered in Calgary, Canada, and its shares are listed on the TSX.