08:12 AM EDT, 04/01/2024 (MT Newswires) -- Parkland Corp. ( PKIUF ) said Monday that it resumed normal operations at the Burnaby refinery on March 29 following an unplanned shutdown due to extreme cold weather on Jan. 12.

As a result, Parkland expects the refinery to deliver composite utilization of about 20% while reporting an adjusted EBITDA loss of $60 million to $65 million for the first quarter.

Parkland said it expects to book an adjusted EBITDA of $300 million to $320 million for the first quarter.

"During this shutdown period, we accelerated maintenance and refining optimization work previously scheduled for the third quarter of 2024. In addition, we have taken proactive steps to improve organization-wide marketing profitability and enhance the refinery's utilization and profitability for the remainder of the year," President and CEO Bob Espey said.

The company said its 2024 Adjusted EBITDA guidance range remained unchanged at $1.95 billion to $2.05 billion.