Parkland Fuel Corp. Q3-2017 Earnings Update
This is only a sample of the article, please login to view the entire article
Parkland Fuel Corporation has grown from a western Canadian fuel distributor to become Canada's largest independent distributor of fuel and lubricants, managing a Canadian nationwide network of sales channels for retail, commercial, wholesale and home heating fuel customers. Parkland provides motorists, businesses, consumers and wholesale customers with gasoline, diesel, propane, lubricants, heating oil and other products through a network of locations across North America. Volumes have grown from 4.16 B litres in 2011 to 9.6B litres in 2015 and following the CTS (Ultramar) acquisition on Jun-28-2017 to 10.3B litres annually. Revenues are earned from a chain of 1,755 retail service stations and convenience stores in Canada, sales to commercial customers and wholesalers in Canada and the US. The CTS acquisition added 633 locations and it their largest acquisition to date. As of Oct1-1-2019 Parkland paid $1.5B to acquire 129 Chevron branded retail service stations principally located in the Greater Vancouver area, 37 commercial cardlock locations in British Columbia and Alberta, Wholesale aviation business serving the Vancouver International Airport, three terminals located in Burnaby, Hatch Point, and Port Hardy, BC; 55,000 bpd light / sweet crude refinery located in Burnaby, BC
Prior to the Chevron acquisition operations are organized into Retail Fuel and Convenience Stores contributing 68% of earnings, Fuel Products Supply at 22%, Commercial (Wholesale) Fuel - 8% and Parkland USA wholesale and retail fuel at 2%.
Retail Fuels Segment
You must be a member to view the entire article, please subscribe or login