In its latest earnings report, Parkland shared its bold growth plans for the years leading up to 2028. Most notably, the retailer reported that it expects to open around 100 new-to-industry locations over the next three years.

Additionally, Parkland plans to complete more than 175 ON the RUN conversions with differentiated food offers, while implementing 1,800 additional electric vehicle (EV) EV charging ports.

To support its growth efforts, the company has allocated $1.3 billion of growth capital expenditures from 2025-2028. The funds will be allocated as follows:

• 50% to strengthen its retail customer advantage, focused on growing market share and loyalty, while enhancing brand recognition.
• 20% to strengthen commercial customer advantage by growing volumes through cardlock expansion, multi-product offers and tailored customer solutions.
• 30% to strengthen supply advantage, focusing on building scale and purchasing power through infrastructure investments, including increasing co-processing capacity to 7,500 barrels per day by 2028.

“We enter 2025 confident in our strategy and plan to achieve our 2028 growth ambitions,” said Bob Espey, president and CEO. “Next year, despite anticipating lower than mid-cycle refining margins, adjusted EBITDA from our retail and commercial businesses are expected to increase by approximately 5%, 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.”

Parkland also shared in its 2025 guidance that it aims to achieve an adjusted EBITDA of $2,100 million for the year, which would be a jump up from its pervious goal of $1,800 million. The retailer is also planning for capital expenditures between $475 million and $525 million.

“We anticipate generating approximately $5 billion in cumulative available cash flow from 2025 to 2028 and are positioned to deliver sustainable growth while enhancing shareholder returns and strengthening our balance sheet,” Parkland noted in the earnings report. “The company’s capital allocation framework remains in place with 25% of available cash flow directed toward dividends, 25% toward organic growth initiatives and the remaining 50% toward opportunities that generate the greatest returns, including share buybacks and inorganic growth opportunities.”

Parkland is an international fuel distributor, marketer and convenience retailer with operations in 26 countries across the Americas. With approximately 4,000 retail and commercial locations across Canada, the U.S. and the Caribbean region, the company has developed supply, distribution and trading capabilities to accelerate growth and business performance.