10:02 AM EST, 11/26/2024 (MT Newswires) -- Parkland (PKI.TO) reported Tuesday its financial guidance for 2025 and reaffirmed its 2028 targets.

The company outlined an adjusted EBITDA guidance of $1.80 billion to $2.10 billion, which includes refining adjusted EBITDA of about $300 million.

Parkland expects to record capital expenditures of between $475 million and $525 million as well as available cash flow of between $5.00 and $6.00 per share.

The company also aims to complete its previously announced divestment program, which is expected to exceed $500 million.

In addition, Parkland reaffirmed its 2028 targets including adjusted EBITDA of $2.5 billion,

available cash flow of $8.50 per share and return on invested capital of more than 12 percent.

"We enter 2025 confident in our strategy and plan to achieve our 2028 growth ambitions," President and CEO Bob Espey said. "Next year, despite anticipating lower than mid-cycle refining margins, adjusted EBITDA from our retail and commercial businesses are expected to increase by approximately five percent, in line with our growth commitments."

"The Parkland team will continue to focus on growing our customer volumes while achieving the synergies and efficiencies from previous acquisitions," Espey added.

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