Toronto, Feb 21, 2026, 01:45 (EST) — Market’s done for the day
- Superior Plus tumbled 18.4% Friday to C$6.48, missing out while the TSX set new records.
- The company delayed the completion of its “Superior Delivers” overhaul until 2028, trimming its growth targets for the coming years.
- Traders are eyeing Monday for fresh broker notes and signs the selling pressure could ease.
Shares of Superior Plus Corp (TSX: SPB) slid 18.4% Friday, finishing at C$6.48 after swinging between C$7.22 and C$6.27 during the session. That drop will stand until Toronto markets open their doors again on Monday. (StockAnalysis)
Even with Canada’s S&P/TSX Composite closing at a fresh record, shares of Superior Plus tumbled after the company missed its quarterly revenue target. Investors seemed encouraged by a U.S. Supreme Court decision blocking President Donald Trump from imposing tariffs without oversight. “That’s a crack in the armor… There are limits to what Trump can do,” said Colin Cieszynski, chief market strategist at SIA Wealth Management. (Reuters)
Why does this matter now? Superior has spent years urging investors to be patient as it tries to overhaul its North American propane business. The idea: boost margins and stabilize winter service. But with a one-year delay suddenly on the table, expectations can shift quickly—no small thing for a stock sold as cash-flow focused.
Superior reported a 2% uptick in full-year adjusted EBITDA, reaching $463.5 million. Fourth-quarter revenue, though, slipped to $691 million. All numbers are in U.S. dollars unless stated otherwise. Looking ahead to 2026, the company is projecting another 2% rise in adjusted EBITDA, with propane expected to gain between 3% and 8%. Certarus, its compressed natural gas unit, is forecast to decline 4% to 9%. Superior plans to buy back $50 million to $100 million in shares. The full impact of its “Superior Delivers” initiative has now been pushed out to 2028. The company also trimmed its adjusted EBITDA compound annual growth rate for 2024-2027 to around 2%, down from the previous 8% target. (Business Wire)
Chief executive Allan MacDonald cited ripple effects stemming from major operational changes introduced during winter. “Superior Delivers is working and the long-term benefits remain intact; however, we have extended the timeline needed to complete the full transformation,” he said. According to MacDonald, cold weather and a spike in demand “created service pressure” in some areas. (MarketScreener)
During the call, executives suggested rough patches could persist, though the company remains committed to its $75 million Superior Delivers goal. Chief financial officer Grier Colter told analysts, “we expect the first quarter of 2026 to be modestly lower than Q1 2025,” pointing out delivery bottlenecks for propane as well as softer CNG results. He cited wellsite pricing and a drop in ancillary revenue as factors weighing on the first-quarter CNG contribution. (Investing.com)
Brokers wasted no time. CIBC’s Robert Catellier dropped his rating on the stock to Neutral from Outperformer, slashing the price target to C$8 from C$9. He pointed to a one-year setback for Superior Delivers and a bump in execution risk for the near term. (TipRanks)
Friday’s tumble was sharp—shares closed far below the previous mark of C$7.94, landing close to the 52-week floor. Investing.com puts the range at C$5.85 to C$8.34. That same site notes that on Feb. 20, CIBC joined TD Cowen and BMO Capital in downgrading the stock. (Investing.com)
Still, things could easily slip. Service problems dragging through late winter risk customer churn, turning this “fix-it” year into something much longer. Certarus wellsite prices? If those don’t settle down, management’s 2026 outlook could be looking too optimistic.
The immediate focus for next week is clear: will the stock stabilize once the Toronto Stock Exchange is back online and analysts start rolling out fresh price targets post-call? Income-focused holders are looking ahead to the next dividend: C$0.045 per share, set for payout April 15 to anyone on the books as of March 31. (TipRanks)
