Par Pacific Holdings ( (PARR) ) has released its Q3 earnings. Here is a breakdown of the information Par Pacific Holdings presented to its investors.
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Par Pacific Holdings, Inc., based in Houston, Texas, is an energy company that operates in the refining, retail, and logistics sectors, providing both renewable and conventional fuels primarily to the western United States. The company also holds a significant stake in Laramie Energy, a natural gas production company in Colorado.
In its third-quarter 2025 earnings report, Par Pacific Holdings announced a substantial increase in net income, reporting $262.6 million, or $5.16 per diluted share, compared to $7.5 million, or $0.13 per diluted share, in the same period last year. The company’s performance was bolstered by a significant gain from small refinery exemptions, contributing approximately $200 million to its adjusted net income and EBITDA.
Key financial highlights from the report include an adjusted net income of $302.6 million and an adjusted EBITDA of $372.5 million, reflecting strong refining operations and contributions from retail and logistics segments. The refining segment alone reported an operating income of $340.8 million, a significant increase from the previous year, driven by improved margins and throughput. Additionally, Par Pacific closed a joint venture in Hawaii, receiving $100 million in proceeds, and repurchased $16.4 million of its common stock.
The company’s retail and logistics segments also showed positive results, with the retail segment achieving an operating income of $19.1 million and the logistics segment reaching a record adjusted EBITDA of $37.3 million. Par Pacific’s liquidity improved, with total liquidity increasing by 14% to $735.2 million by the end of the quarter.
Looking ahead, Par Pacific’s management remains optimistic about its financial position and growth prospects, with plans to continue pursuing growth opportunities and share repurchases. The company is also on track to complete the construction of its renewable fuels unit in Hawaii, further enhancing its strategic position in the energy sector.