Welcome to our dedicated page for Par Pacific Holdings news (Ticker: PARR), a resource for investors and traders seeking the latest updates and insights on Par Pacific Holdings stock.
Par Pacific Holdings, Inc. (NYSE: PARR), headquartered in Houston, Texas, is a dynamic energy company focused on the acquisition, operation, and management of energy and infrastructure businesses. With a diverse portfolio, Par Pacific plays a significant role in the energy sector, providing both renewable and conventional fuels across the western United States.
Par Pacific operates one of the largest energy infrastructure networks in Hawaii, featuring a 94,000-bpd refinery, a comprehensive logistics network serving the major islands, and 90 retail locations under the Hele brand. In Wyoming, the company owns a refinery and associated logistics network catering to a niche market.
Moreover, Par Pacific owns 46% of Laramie Energy, LLC, which focuses on natural gas operations in the Piceance Basin in Western Colorado. The company also extends its reach into the Pacific Northwest and the Rockies, operating an extensive energy infrastructure network, including 7.6 million barrels of storage and multiple marine, rail, rack, and pipeline assets.
Under its refining segment, Par Pacific produces ultra-low-sulfur diesel, gasoline, jet fuel, marine fuel, and other refined products, generating maximum revenue from this segment. Through its retail segment, the company operates convenience stores like the 'nomnom' chain and supplies ExxonMobil-branded fuel retail stations. The logistics segment ensures efficient crude shipments to refineries and the export of finished products.
Recent notable achievements include a new intermediation financing agreement with Citigroup Energy Inc. for its Kapolei, Hawaii refinery and the initiation of a sweepstakes for nomnom rewards members featuring a trip to Colorado. These strategic moves underline Par Pacific's dedication to growth and innovation in the energy sector.
With a strong business outlook, robust balance sheet, and a talented management team led by CEO Will Monteleone, Par Pacific is well-positioned for future growth, driving shareholder value and maintaining its commitment to operational excellence.
Par Pacific Holdings, Inc. (NYSE: PARR) reported financial results for Q1 2024, with a net loss of $(3.8) million. Adjusted Net Income was $41.7 million, while Adjusted EBITDA reached $94.7 million. The company repurchased $73 million of common stock and increased management share repurchase authority to $250 million. Refinancing activities led to $13 million annual cash savings. Despite a net loss, the company remains well-capitalized to pursue strategic objectives.
nomnom, a subsidiary of Par Pacific Holdings, launches a summer sweepstakes offering a chance to win a trip to Colorado for a Major League Baseball game. Customers can enter the sweepstakes through the nomnom app, with one lucky winner randomly selected in August. The sweepstakes runs from May 1 to July 31, featuring prizes like a Southwest gift card, hotel stay, jerseys, and game tickets. nomnom Rewards members also enjoy everyday savings and surprise giveaways.
FAQ
What is the current stock price of Par Pacific Holdings (PARR)?
What is the market cap of Par Pacific Holdings (PARR)?
What does Par Pacific Holdings, Inc. do?
Where is Par Pacific Holdings, Inc. headquartered?
What segments does Par Pacific operate in?
What is Par Pacific's refining capacity?
What recent achievements has Par Pacific accomplished?
What is Par Pacific's market symbol?
What is the significance of Par Pacific's logistics network?
How does Par Pacific contribute to the Hawaiian energy market?
Who leads Par Pacific Holdings, Inc.?
What are the primary products of Par Pacific's refining segment?
