Welcome to our dedicated page for Par Pcifc Hldngs news (Ticker: PARR), a resource for investors and traders seeking the latest updates and insights on Par Pcifc Hldngs stock.
Par Pacific Holdings, Inc. (PARR) operates across refining, logistics, retail, and natural gas sectors, strategically managing energy infrastructure in key U.S. markets. This resource provides investors and industry stakeholders with centralized access to official company announcements and market-moving developments.
Track critical updates including quarterly earnings disclosures, operational efficiency initiatives, and strategic acquisitions. Our curated feed includes regulatory filings, partnership announcements, and leadership updates directly from PARR's corporate communications.
Discover comprehensive coverage of the company's refining capacity adjustments, logistics network expansions, and retail segment developments. Content spans Laramie Energy operational updates, Hawaii market activities, and Wyoming infrastructure projects.
Bookmark this page for streamlined monitoring of Par Pacific's evolving market position. Verify time-sensitive decisions against primary source materials while maintaining awareness of energy sector compliance developments.
Par Pacific Holdings (NYSE: PARR) will participate in notable conferences, including the Goldman Sachs 2023 Global Energy and Clean Technology Conference on January 6, 2023 in Miami, FL, and the 2023 Sankey Research Virtual Refining Conference on January 13, 2023. The company is recognized for its extensive energy network, operating with a refining capacity of 94,000 bpd in Hawaii and 61,000 bpd in the Pacific Northwest and Rockies. Investors can access the latest presentations on Par Pacific's website.
Par Pacific Holdings, Inc. (NYSE: PARR) announced its 2023 capital expenditure guidance of $60 million to $70 million, including $45 million for maintenance and regulatory spending, and $20 million for growth projects. No material turnaround outlays are anticipated during the year. The company is assessing a distillate hydrotreater renewable conversion project in Hawaii, with a final investment decision expected in Q1 2023. The guidance does not include expenditures for this project or the Billings acquisition, set to close in Q2 2023.
Par Pacific Holdings, Inc. (NYSE: PARR) announced key management changes effective January 1, 2023. William Monteleone has been appointed President, succeeding his role as Executive Vice President & Chief Financial Officer, where he served since 2017. He brings extensive experience in operations and financial management. Concurrently, Shawn Flores has been promoted to Senior Vice President & Chief Financial Officer, having previously been Vice President of Finance. These changes aim to enhance operational integration and accelerate renewable fuels production.
Par Pacific Holdings reported a strong financial performance for Q3 2022, with net income soaring to $267.4 million or $4.47 per diluted share, up from $81.8 million or $1.37 in Q3 2021. Adjusted EBITDA reached $214.1 million, compared to $58.2 million last year. The company announced the acquisition of ExxonMobil's Billings refinery for $310 million, expected to enhance its market presence. Key operational metrics showed increasing margins and throughput across refining and retail segments, alongside notable improvements in cash flow and liquidity.
Par Pacific Holdings, Inc. (NYSE: PARR) announced its agreement to acquire the 63,000 bpd Billings refinery and related assets from ExxonMobil for a base price of $310 million. The acquisition, funded by cash on hand and credit lines, is expected to enhance Par Pacific's scale and geographic reach, boosting throughput capacity to about 218,000 bpd. The company anticipates over $30 million in synergies and immediate accretion to Adjusted Net Income and Free Cash Flow per share upon closing in Q2 2023.
Par Pacific Holdings, Inc. (NYSE: PARR) will release its third quarter 2022 results after the market closes on November 1, 2022. Following this, an investor conference call is scheduled for November 2, 2022, at 8:30 a.m. Central Time. Interested participants should dial in 10 minutes prior to the call, with toll-free and toll numbers provided. The earnings release will be accessible on their official website. Par Pacific operates significant energy, infrastructure, and retail businesses, including a robust energy network in Hawaii and operations in the Pacific Northwest.
Par Pacific Holdings, Inc. (NYSE: PARR) will participate in the Wells Fargo Leveraged Finance Conference on September 8, 2022, in Nashville, TN. This engagement highlights the company's commitment to connecting with investors and stakeholders. Interested parties can access the latest investor presentation on the company's website at www.parpacific.com. Par Pacific operates significant energy businesses, including one of the largest networks in Hawaii and additional operations in the Pacific Northwest and Rockies.
Par Pacific Holdings reported strong financial results for Q2 2022, with a net income of $149.1 million ($2.50 per diluted share), a significant increase compared to a net loss of $(109.0 million) in Q2 2021. Adjusted net income also surged to $197.2 million from a loss of $(14.7 million) year-over-year. The company achieved an adjusted EBITDA of $242.1 million, up from $26.7 million in the prior year. Notably, they reduced debt by $70.1 million. Operationally, throughput reached 141 Mbpd, with performance driven by strong demand and reliable operations.
Par Pacific Holdings (NYSE: PARR) is set to announce its second quarter 2022 financial results on August 8, 2022, after market close. A conference call for investors will follow on August 9 at 9:00 a.m. CT. The company operates significant energy and retail businesses, owning a major network in Hawaii and additional refining capacity in the Pacific Northwest and Rockies. Their focus is on acquiring and developing niche markets. For more information, visit their website.
On June 8, 2022, Hawaiian Airlines and Par Pacific Holdings (NYSE: PARR) announced a partnership to explore the production of sustainable aviation fuels (SAF) in Hawaii. This initiative aims to reduce carbon emissions and promote local fuel production. The companies plan to evaluate converting processing units at Par Pacific’s refinery for renewable fuel production and support local oil crop cultivation. The partnership is expected to positively impact Hawaii's energy sustainability by addressing approximately 40% of the state's aviation fuel demand.
