Parkland Corp T.PKI

Alternate Symbol(s): PKIUF

Energy Oil & Gas Refining & Marketing

Parkland Corporation is an international fuel distributor and retailer. The Company’s segments include Canada, International, USA, and Refining. Canada segment owns, supplies, and supports a network of retail gas stations, frozen food retail locations, convenience stores, card lock sites, bulk fuel, propane, heating oil, lubricants, and other related services. International segment includes operations in over 23 countries and territories predominantly located in the Caribbean and northern coast of South America. This segment operates and services a network of retail service stations under brands, including Sol, Esso, Mobil, Shell and Texaco. USA segment delivers fuel, lubricants, and other related products and services. Refining segment is responsible for the refining of fuel products, such as gasoline, diesel, and jet fuel, and is also engaged in renewable business activities, such as co-processing of bio-feedstocks and blending of low-carbon intensity fuels with gasoline and diesel.

TSX:PKI - Post by User

Parkland Corp

Bullboard Posts

Post by oris99on Apr 17, 2013 1:37pm

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Post# 21266315

Canaccord

Consumer & Retail -- Consumer Products

HIGHLIGHTS FROM INVESTOR DAY

AND MANAGEMENT MARKETING

Investment recommendation

We are reiterating our BUY rating and $20.50 target price following Parkland’s Investor Day and our marketing trip with company management.

Investment highlights

? Parkland held its annual Investor Day on Monday, April 15. The company reiterated its most recent strategic plan, known as the “Parkland Penny Plan”, and provided an update on the company’s post 2013 earnings potential.
? Parkland guided to a base case scenario of EBITDA of $190 million in 2014, growing to $242 million by 2016. These estimates assume Parkland is able to acquire EBITDA of $12 million during each of the next 3 years, which, given that the company has thus far acquired approximately $27 million in EBITDA during the first year of the plan, appears conservative.
? Following the company’s strong performance in over-delivering on its first year targets related to the strategic plan, we have further confidence in Parkland’s ability to meet or exceed its 2014-2016 targets.