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) 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.
Par Pacific Holdings, Inc. (NYSE: PARR) announced its management team's participation in several upcoming conferences. Key events include the Goldman Sachs Leveraged Finance and Credit Conference on May 12, 2022, and the TPH Disrupting Hotter ‘N Hell Energy Conference on May 19, 2022, both promoting strategic discussions in the energy sector. Other notable conferences are scheduled with RBC and Bank of America on June 7 and June 8, respectively. Par Pacific, headquartered in Houston, operates significant energy infrastructures across Hawaii and the Pacific Northwest, with potential growth initiatives detailed in its latest investor presentation.
Par Pacific Holdings (NYSE: PARR) reported a net loss of $(137.1) million, equating to $(2.31) per diluted share, for Q1 2022, worsening from a $(62.2) million loss in Q1 2021. The adjusted net loss was $(31.4) million, a slight improvement from $(75.4) million in Q1 2021. Adjusted EBITDA was $8.3 million, up from a $(34.4) million loss in the prior year. The refining segment reported an operating loss of $(118.3) million. Despite challenges, President William Pate highlighted successful refinishing turnaround operations, anticipating positive market conditions ahead.
Par Pacific Holdings, Inc. (NYSE: PARR) announced the appointment of Richard Creamer as Executive Vice President, Refining and Logistics. Creamer, with significant experience including leadership positions at HF Sinclair and previous roles at Par Pacific, is expected to bring valuable expertise to the company. William Pate, CEO, emphasized Creamer's strong communication and relationship-building skills as key factors for his selection. Par Pacific operates major energy and retail businesses, with substantial refining capacity in Hawaii and the Pacific Northwest.
Par Pacific Holdings, Inc. (NYSE: PARR) will announce its first quarter 2022 results on May 4, 2022, after market close. An investor conference call is scheduled for May 5, 2022, at 9:00 a.m. Central Time. The earnings release and webcast details will be accessible on their website. Par Pacific operates a significant energy network, including a refining capacity of 94,000 bpd in Hawaii and 60,000 bpd in the Pacific Northwest, alongside a 46% stake in Laramie Energy for natural gas production.
Par Pacific Holdings, Inc. (NYSE: PARR) has decided to suspend purchases of Russian crude oil for its Hawaii refinery due to recent geopolitical events. The company emphasizes its commitment to Hawaii's energy security and will source crude primarily from North and South America to meet fuel production needs. Par Pacific operates significant energy infrastructure and retail businesses in Hawaii and the Pacific Northwest, with a combined refining capacity of 154,000 bpd. The situation remains dynamic, and the company will monitor the geopolitical landscape closely.
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