Q3 Results In announcing these results, Luc Desjardins, President and Chief Executive Officer said, “Our third quarter results were in line with our expectations and, based on our year-to-date performance, we are confirming our 2022 Adjusted EBITDA guidance range. Our sales volumes in the U.S. were higher due to the acquisitions completed in the past nine months, including Kamps Propane, Kiva Energy and the assets of the Quarles Delivered Fuels business. During the quarter, we also made great progress on the integration of the Quarles and Kamps acquisitions ahead of the heating season.These efforts will allow us to make operational improvements on the businesses sooner than anticipated.”
Mr. Desjardins continued, “Consistent with our dynamic capital allocation approach communicated at our Investor Day in 2021, we commenced a normal course issuer bid on October 13, 2022, which provides us with an opportunity to return capital to shareholders and affirms our commitment to creating long-term shareholder value. We also completed three tuck-in acquisitions in Ontario, North Carolina and California as we continue to execute our growth through acquisition strategy in the U.S. and Canada. With these three acquisitions, we achieved the low end of our 2022 acquisition target range of $200 million to $300 million in enterprise value, excluding the Kamps acquisition.”