Share Buyback Program Could Be a Game Changer for Superior Plus (TSX:SPB)

• On November 17, 2025, Superior Plus Corp. (TSX:SPB) announced a normal course issuer bid to repurchase up to 21,551,556 shares, equivalent to 9.67% of its issued share capital, with all repurchased shares to be cancelled by November 18, 2026.
• This substantial buyback program highlights management’s confidence in the company’s future prospects and may lead to a more concentrated ownership for remaining shareholders.
• We’ll consider how this large-scale share repurchase could reinforce Superior Plus’s investment case, especially regarding earnings per share growth.

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Superior Plus Investment Narrative Recap

To be a shareholder in Superior Plus, you need to believe in the ongoing relevance of propane and renewable natural gas within North America’s energy mix, even as electrification trends and regulatory shifts place structural pressure on fossil fuel distributors. While the recent announcement of a sizeable buyback signals management’s confidence, it does not significantly change the most important near-term catalyst, ongoing margin expansion through operational transformation, or the biggest structural risk: gradual market erosion from policy-driven decarbonization. The effect on these fundamentals, at this stage, appears incremental rather than transformative.

Among recent announcements, the company’s November 13, 2025 quarterly dividend approval is most directly relevant, illustrating an ongoing commitment to shareholder returns even as net income has been volatile. Read in context, both this steady dividend flow and the share buyback effort reinforce an investment case built on cash generation and shareholder yield as the sector faces longer-term demand challenges.

In contrast, investors should be aware that regulatory pressures on fossil fuel heating could accelerate demand decline much faster than management initiatives can...

Read the full narrative on Superior Plus (it's free!)

Superior Plus' outlook anticipates $2.8 billion in revenue and $146.9 million in earnings by 2028. This scenario assumes a 3.8% annual revenue growth rate and a $103.5 million increase in earnings from the current $43.4 million.

Uncover how Superior Plus' forecasts yield a CA$9.62 fair value, a 30% upside to its current price.

Exploring Other Perspectives

Six members of the Simply Wall St Community have published fair value estimates for Superior Plus, ranging from CA$7.50 to CA$36.92 per share. Some see upside, but ongoing electrification and policy risks mean future revenues remain under pressure, consider these different views as you form your own outlook.

Explore 6 other fair value estimates on Superior Plus - why the stock might be worth just CA$7.50!

Build Your Own Superior Plus Narrative

Disagree with existing narratives? Create your own in under 3 minutes - extraordinary investment returns rarely come from following the herd.

• A great starting point for your Superior Plus research is our analysis highlighting 3 key rewards and 2 important warning signs that could impact your investment decision.
• Our free Superior Plus research report provides a comprehensive fundamental analysis summarized in a single visual - the Snowflake - making it easy to evaluate Superior Plus' overall financial health at a glance.

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This article by Simply Wall St is general in nature. We provide commentary based on historical data and analyst forecasts only using an unbiased methodology and our articles are not intended to be financial advice. It does not constitute a recommendation to buy or sell any stock, and does not take account of your objectives, or your financial situation. We aim to bring you long-term focused analysis driven by fundamental data. Note that our analysis may not factor in the latest price-sensitive company announcements or qualitative material. Simply Wall St has no position in any stocks mentioned.

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