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Par Pacific (PARR) investor relations material
Par Pacific Q3 2026 earnings summary
Complete event summary combining all related documents: earnings call transcript, report, and slide presentation.Executive summary
Q3 adjusted EBITDA was $646.0M and Adjusted Net Income was $531.5M; results included $222.0M and $187.2M of SRE benefits, respectively.
Net income attributable to shareholders was $353.3M, or $7.11 diluted EPS; revenue reached $3.052B.
Hawaii completed its turnaround, Renewables posted its first profitable quarter, and quarter-end liquidity was $2.4B with a net cash position.
Financial highlights
Revenue was $3.052B vs. $2.013B YoY; operating income was $472.1M vs. $358.5M.
Net income attributable to shareholders was $353.3M vs. $262.6M; diluted EPS was $7.11 vs. $5.16.
Adjusted Net Income was $531.5M vs. $302.6M; Adjusted EBITDA was $646.0M vs. $372.5M.
Operating cash flow was $838.9M, including $387.0M in working-capital inflows and $50.0M of deferred turnaround expenditures.
Outlook and guidance
Q4 refining throughput guidance: Hawaii 85,000–89,000 bpd, Washington 39,000–42,000, Wyoming 16,000–18,000 and Montana 53,000–57,000; system midpoint 200,000 bpd.
Q4 Hawaii Renewables throughput guidance was 2,800–3,400 bpd; renewable diesel production was expected to progress toward ~4,000 bpd nameplate over coming quarters.
Laramie sale was expected to close by year-end 2026, subject to approvals; consideration was $148M, including $28M payable on the fifth closing anniversary, plus up to $30M in earn-outs.
FY2026 capital and turnaround costs were expected to finish slightly above guidance; 2027 priorities included organic growth and opportunistic repurchases.
- A 219,000-bpd platform pairs mid-cycle free cash flow of $300–330 million with renewable growth.PARR
Investor presentation - Integrated refining, retail, and renewables drive growth and strong financial flexibility.PARR
Investor presentation - Q2 net income and margins soared on refining strength, with Hawaii turnaround and debt reduction completed.PARR
Q2 2026 - Integrated platform with strong refining, retail, renewables, and disciplined financial growth.PARR
Investor presentation - Net income rose to $54.5M, driven by record Hawaii throughput and renewables launch.PARR
Q1 2026 - Virtual Annual Meeting to vote on directors, auditor, compensation, and incentive plan.PARR
Proxy filing - Record 2025 profits, $634M EBITDA, and new $250M buyback set up strong 2026 outlook.PARR
Q4 2025 - Q3 2024 net income fell to $7.5M as refining margins dropped, but logistics and retail outperformed.PARR
Q3 2024 - Q1 2025 saw a $30.4M net loss, lower refining margins, but strong retail and logistics results.PARR
Q1 2025
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