Calgary-based Parkland Fuel Corp. has reported net earnings of $91 million in the first quarter of this year compared with $20 million for the same quarter in 2018.
“Parkland had a very strong start for 2019,” said Bob Espey, president and CEO, in a news release. “As demonstrated by our KPIs (key performance indicators), the Parkland team delivered another standout quarter of growth on the back of disciplined execution, a robust marketing and logistics environment and healthy refining margins.
“This was also the first quarter with our new international business, and we are very pleased with the results to date. 2019 marks a significant milestone in the history of Parkland, as the company celebrates its 50th anniversary as a publicly traded company. Parkland began as a single retail gas station in Red Deer, Alberta, and today supplies or owns over 2,600 retail sites across our operations. We are proud to service retail, commercial and wholesale customers throughout Canada, the United States, the Caribbean region and the Americas. I would like to thank the entire Parkland team for their hard work and continued focus on safety to deliver another strong quarter.”
In the first quarter, Parkland opened a Houston office that supports its growing supply and trading business in the U.S. and Caribbean markets, said the company.
– Mario Toneguzzi for Calgary’s Business