Parkland’s Burnaby refinery. Canadian Press
CALGARY — Fuel retailer Parkland Corp. says it posted a net loss of $5 million in its first quarter as its financial results took a hit due to an unplanned shutdown at its Burnaby refinery.
The Calgary-headquartered company says that compares to earnings of $77 million a year earlier.
On an adjusted basis, the company says it earned $327 million, a decrease of 17 per cent compared with the first quarter of 2023.
The unplanned shutdown of Parkland’s Burnaby, B.C. refinery began in January due to extreme cold weather and was extended by “technical issues” encountered when the company tried to restart the facility.
The refinery returned to normal operations on March 29.
Parkland says while the refinery was shut down, the company was able to accelerate maintenance work on the facility that had previously been scheduled for the third quarter of this year. As a result, Parkland said it expects to enhance the Burnaby refinery’s utilization and profitability for the remainder of the year.
This report by The Canadian Press was first published May 1, 2024.
Companies in this story: (TSX:PKI)
The Canadian Press
- 0079 Ministry of Energy Business_incentive PO0079 Ministry of Energy Business_incentive PO
- 0078 LHOS 20240078 LHOS 2024
- 0077 Caprice Resources Stand Up For Free Speech0077 Caprice Resources Stand Up For Free Speech
- 0053 Kingston Midstream Westspur Alameda0053 Kingston Midstream Westspur Alameda
- 0076 Latus only0076 Latus only
- 0073 SaskWorks-Pipeline Online0073 SaskWorks-Pipeline Online
- 0063 Turnbull Excavating hiring crusher0063 Turnbull Excavating hiring crusher
- 0061 SIMSA 2024 For Sask Buy Sask0061 SIMSA 2024 For Sask Buy Sask
- 0058 Royal Helium Steveville opens anonymous rocket0058 Royal Helium Steveville opens anonymous rocket
- 0055 Smart Power Be Smart with your Power office0055 Smart Power Be Smart with your Power office
- 0051 JML Hiring Pumpjack assembly0051 JML Hiring Pumpjack assembly
- 0049 Scotsburn Dental soft guitar0049 Scotsburn Dental soft guitar
- 0046 City of Estevan This is Estevan0046 City of Estevan This is Estevan
- 0041 DEEP Since 2018 now we are going to build0041 DEEP Since 2018 now we are going to build
- 0032 IWS Summer hiring rock trailer music
- 0022 Grimes winter hiring
- 0021 OSY Rentals S8 Promo
- 0018 IWS Hiring Royal Summer
- 0013 Panther Drilling PO ad 03 top drive rigs
- 0011
- 0006 JK Junior
- 0002 gilliss casing services0002 gilliss casing services
- 9002 Pipeline Online 30 sec EBEX9002 Pipeline Online 30 sec EBEX
- 9001