CA - Parkland Corporation (PKIUF) Q1 2024 Earnings Call Transcript

2024-05-04 17:37:11 ET

Parkland Corporation (PKIUF)

Q1 2024 Earnings Conference Call

May 2, 2024 08:30 ET

Company Participants

Valerie Roberts - Director of Investor Relations

Robert Espey - President & Chief Executive Officer

Marcel Teunissen - Chief Financial Officer

Ian White - President of Canada

Conference Call Participants

Kevin Chiang - CIBC

Ben Isaacson - Scotiabank

Neil Mehta - Goldman Sachs

Steven Hansen - Raymond James

Carla Casella - JPMorgan

Presentation

Operator

Good morning. My name is Ina [ph] and I will be your conference operator today. At this time, I would like to welcome everyone to the Parkland Q1 Analyst Conference Call. [Operator Instructions]

I would now like to turn the conference over to Valerie Roberts, Director, Investor Relations for Parkland. Please go ahead.

Valerie Roberts

Thank you, operator. With me today on the call are Bob Espey, President and CEO; Marcel Teunissen, Chief Financial Officer; and Ian White, President, Canada. This call is webcast and I encourage listeners to follow along with the supporting slides. We will go through our prepared remarks and then open it up for questions with the investment community. Please limit yourself to 1 question and a follow-up as necessary. And if you have other questions, re-enter the queue. We would ask analysts to follow up directly with the Investor Relations team afterwards for any detailed modeling questions.

During our call today, we may make forward-looking statements related to expected future performance. These statements are based on current views and assumptions that are subject to uncertainties which are difficult to predict. These uncertainties include but are not limited to, expected operating results and industry conditions, among other factors. Risk factors applicable to our business are set out in our annual information form and management's discussion and analysis. We will also be discussing non-GAAP and other financial measures which do not have any standardized meanings prescribed by IFRS. These measures are identified and defined in Parkland's continuous disclosure documents which are available on our website or on SEDAR. Please refer to these documents as they identify factors which may cause actual results to differ materially from any forward-looking statements. Dollar amounts discussed in today's call are expressed in Canadian dollars, unless otherwise noted.

I will now turn the call over to Bob.

Robert Espey

Thank you, Val and good morning, everyone. We appreciate you joining us today. 2024 did not begin as we expected. The combination of extreme cold weather in British Columbia and a curtailment of natural gas supply led to the unplanned shutdown of the Burnaby Refinery. Such circumstances, test the capabilities and resolve of the team and I am proud of the way Parkland rallied together to safely return the facility to normal operations by the end of March, while continuing to serve our customers. The strength of our supply centric business model ensured customers continue to receive the essential fuels on which they depend....

For further details see: