Par Pacific (PARR) Q3 2026 earnings summary

Executive summary

• Strong Q3 operating performance across businesses; first profitable quarter for Renewables, while unusually high small refinery exemption (SRE) benefits lifted adjusted results.

• Net income attributable to stockholders was $353.3 million, or $7.11 diluted EPS; Adjusted Net Income was $531.5 million and Adjusted EBITDA was $646.0 million.

Financial highlights

• Revenue was $3.052 billion vs. $2.013 billion YoY; operating income was $472.1 million vs. $358.5 million.

• Net income attributable to stockholders was $353.3 million vs. $262.6 million; diluted EPS was $7.11 vs. $5.16.

• Adjusted Net Income was $531.5 million vs. $302.6 million, including a $187.2 million SRE impact; Adjusted EBITDA was $646.0 million vs. $372.5 million, including a $222.0 million SRE impact.

Outlook and guidance

• Expected Laramie asset-sale closing in Q4 2026; approximately $120 million of cash proceeds expected by year end, with additional deferred and contingent consideration possible.

• Excess RIN position expected to be monetized by year end 2026.

• Management cited a strong margin environment and focus on customer service and reliable operations.