Parkland Corporation has announced its financial results for the second quarter of 2025, reporting a record Adjusted EBITDA of $508 million. This performance underscores the strength and potential of its diversified business model. The company's Canadian and International operations have shown resilience, with strong supply optimization and solid operations at the Burnaby refinery contributing to above mid-cycle refining margins. The trailing twelve months $(TTM)$ available cash flow was $551 million ($3.17 per share), a decrease from $823 million ($4.69 per share) in 2024. This decline was primarily due to lower refining margins in the latter half of 2024 and losses from the wind down of California compliance market positions in early 2025. However, cash generated from operating activities for the TTM reached $1,656 million ($9.52 per share), up from $1,612 million ($9.19 per share) in 2024, benefiting from favorable working capital movements. The leverage ratio decreased to 3.4 times, down from 3.6 times in Q4 2024, with approximately $2.2 billion of liquidity available. Parkland's total recordable injury frequency rate improved to 1.15 on a TTM basis, reflecting a continued focus on operational integrity. In the USA segment, Adjusted EBITDA fell to $26 million from $47 million in Q2 2024, affected by lower fuel unit margins due to competitive pricing, reduced rail and regional arbitrage opportunities, and decreased retail volumes and consumer spending. Meanwhile, the refining segment's Adjusted EBITDA increased to $136 million from $119 million in Q2 2024, driven by higher refining margins and strong composite utilization of 94.0 percent. Additionally, Parkland shareholders approved the Sunoco Transaction, with over 93 percent voting in favor at the June 24, 2025, Annual and Special Meeting. This approval was followed by the receipt of a final order, advancing the transaction further.