CALGARY — Parkland Corp. says it earned $91 million in the third quarter, down from $230 million in the same quarter a year earlier.

Revenue for the quarter ended September 30 was $7.1 billion, up from $8.7 billion.

Diluted net income per share was 52 cents, compared to $1.28 in the same quarter last year.

Chairman and CEO Bob Espey says results fell short of expectations, primarily due to a “challenging refining margin environment.”

He says the company continues to increase its market share in a more difficult economic environment.

Parkland further lowered its adjusted profit forecast for the year due to unfavorable market conditions and the unplanned closure of its Burnaby refinery earlier in the year.

This report by The Canadian Press was first published October 30, 2024.

Companies in this story: (TSX: PKI)

The Canadian Press