TORONTO, ON / ACCESSWIRE / January 18, 2022 / Today, Park Lawn Corporation (TSX:PLC) ("PLC" or the "Company") announced that it intends to participate in the 25th Annual CIBC Western Institutional Investor Conference on Wednesday, January 19 and Thursday, January 20, 2022.
In advance of the conference, the Company has updated the investor presentation on the Company's website. The updated investor presentation discloses that, before considering the impact of any potential future acquisitions, the Company expects to modestly exceed its previously disclosed aspirational growth target of $100 million in pro forma Adjusted EBITDA by the end of 2022. The updated investor presentation is located under the "Investors" tab on the Company's website at www.parklawncorp.com.
About Park Lawn Corporation
PLC provides goods and services associated with the disposition and memorialization of human remains. Products and services are sold on a pre-planned basis (pre-need) or at the time of a death (at-need). PLC and its subsidiaries own and operate businesses including cemeteries, crematoria, funeral homes, chapels, planning offices and a transfer service. PLC operates in three Canadian provinces and sixteen U.S. states.
Non-IFRS Measures
Adjusted EBITDA is not a measure recognized under IFRS and does not have a standardized meaning prescribed by IFRS. Such measure is presented in this news release because management of PLC believes that such measure is relevant in evaluating PLC's operating performance. Such measure, as computed by PLC, may differ from similar computations as reported by other similar organizations and, accordingly, may not be comparable to similar measures reported by such other organizations. Please see PLC's most recent Management's Discussion and Analysis for how the Company reconciles Adjusted EBITDA to the nearest IFRS measure.
Cautionary Statement Regarding Forward-Looking Information
This news release contains forward-looking statements within the meaning of applicable securities laws relating to the business of PLC and the environment in which it operates. Forward-looking statements are identified by words such as "believe", "anticipate", "project", "expect", "intend", "plan", "will", "may", "estimate", "pro-forma" and other similar expressions. These statements are based on PLC's expectations, estimates, forecasts and projections and include, without limitation, statements regarding the pro forma Adjusted EBITDA growth target that PLC expects to achieve by the end of 2022. The forward-looking statements in this news release are based on certain assumptions, including those set out under the heading "Outlook" in PLC's management's discussion and analysis for the second quarter of 2018 (filed on SEDAR on August 14, 2018), that regulatory restrictions relating to the COVID-19 pandemic in the markets the Company serves will continue to ease in the 2022 calendar year, the Company will be able to continue to acquire premier independent businesses in the 2022 calendar year, recent acquisitions will perform as expected, PLC will be able to implement business improvements and achieve costs savings, PLC will be able to retain key personnel, there will be no unexpected expenses occurring as a result of the acquisitions, multiples will remain at or below levels paid by PLC for previously announced acquisitions, the CAD to USD exchange rate will remain consistent, the acquisition and financing markets will remain accessible, capital can be obtained at reasonable costs and PLC's current business lines operate and obtain synergies as expected, as well as those regarding present and future business strategies, organic growth initiatives, the environment in which PLC will operate in the future, expected revenues, expansion plans and PLC's ability to achieve its goals.
Forward-looking statements are not guarantees of future performance and involve risks and uncertainties that are difficult to control or predict. A number of factors could cause actual results to differ materially from the results discussed in the forward-looking statements, including, but not limited to, risks associated with the current COVID-19 pandemic and the other factors discussed under the heading "Risk Factors" in PLC's Annual Information Form and most recent Management's Discussion and Analysis available at www.sedar.com. There can be no assurance that forward-looking statements will prove to be accurate as actual outcomes and results may differ materially from those expressed in these forward-looking statements. Readers, therefore, should not place undue reliance on any such forward-looking statements. Further, these forward-looking statements are made as of the date of this news release and, except as expressly required by applicable law, PLC assumes no obligation to publicly update or revise any forward-looking statement, whether as a result of new information, future events or otherwise.
Contact Information:
Daniel Millett
Chief Financial Officer
(416) 231-1462, ext. 221
SOURCE: Park Lawn Corporation
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