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 (NYSE: PARR) reported financial results for Q4 and FY 2021, revealing a net income of $8.1 million ($0.14/share) for Q4, a significant improvement from a net loss of $(131.9) million in Q4 2020. Full-year net loss was $(81.3) million ($1.40/share), an improvement from $(409.1) million in 2020. Adjusted EBITDA for 2021 was $61.5 million, contrasting with $(86.7) million in 2020. The company noted improved market conditions and focuses on operational reliability and growth opportunities. Liquidity stood at $178.7 million, with cash balances at $112.2 million.
Par Pacific Holdings (NYSE: PARR) announced participation in three upcoming conferences. Management will attend the Credit Suisse 27th Annual Energy Summit on February 28, 2022 in Vail, Colorado, followed by the J.P. Morgan Global High Yield & Leveraged Finance Conference on March 2, 2022 in Miami, FL, and the Bank of America 2022 Refining Conference virtually on March 10, 2022. Investors can access the latest presentation on Par Pacific's website for further insights into the company's operations and strategic initiatives.
Par Pacific Holdings, Inc. (NYSE: PARR) announced its fourth quarter 2021 earnings release, scheduled for February 23, 2022, after market close. The company will host a conference call on February 24, 2022, at 9:00 a.m. Central Time. Par Pacific operates a significant energy network in Hawaii, with a refining capacity of 94,000 barrels per day and additional capacity in the Pacific Northwest and Rockies. The firm also holds a 46% stake in Laramie Energy, focusing on natural gas production in Western Colorado.
Par Pacific Holdings (NYSE: PARR) announced its 2022 capital expenditure and turnaround guidance, estimating a total range of $70 million to $80 million. Key allocations include approximately $30 million for refinery turnaround costs in Washington during Q1 2022. Additionally, around $35 million will be directed toward maintenance, regulatory, and IT needs, with $10 million earmarked for growth capital investments.
HOUSTON, Nov. 23, 2021 – Par Pacific Holdings (NYSE: PARR) announced participation in upcoming conferences. Management will present at the Cowen 2021 Energy Summit on December 1, 2021, virtually, and at the Goldman Sachs 2022 Global Energy and Clean Technology Conference on January 6, 2022, in Aventura, FL. The latest investor presentation is accessible on their website. Par Pacific operates a significant energy network in Hawaii with a refining capacity of 94,000 bpd and has a combined refining capacity of 60,000 bpd in the Pacific Northwest and Rockies.
Par Pacific Holdings, Inc. (NYSE: PARR) reported a record net income of $81.8 million or $1.37 per diluted share for Q3 2021, compared to a net loss of $14.3 million in Q3 2020. Adjusted net income was $45.1 million, an increase from an adjusted net loss of $56.5 million in the prior year. The company’s adjusted EBITDA reached $84.7 million, up from $(16.1) million in Q3 2020. The refining segment showed substantial improvement with an operating income of $86.4 million and throughput of 81 Mbpd. Total liquidity stood at $276.8 million.
Par Pacific Holdings (NYSE: PARR) has appointed Phil Davidson to its Board of Directors, effective October 25, 2021. Davidson, a retired four-star Admiral, previously served as Commander of the United States Indo-Pacific Command. His extensive experience in military and governmental affairs is expected to enhance the Board's strategic perspectives. Par Pacific, based in Houston, Texas, operates energy and retail businesses, including significant refining capacities in Hawaii and the Pacific Northwest.
Par Pacific Holdings, Inc. (NYSE: PARR) will release its third quarter 2021 results after market close on November 3, 2021. An investor conference call is scheduled for November 4, 2021, at 9:00 a.m. Central Time. Par Pacific operates a significant energy network with 94,000 bpd refining capacity in Hawaii and 60,000 bpd in the Pacific Northwest and Rockies. The company also holds a 46% stake in Laramie Energy, involved in natural gas production in Western Colorado.
Par Pacific Holdings (NYSE: PARR) reported its financial results for Q2 2021, revealing a net loss of $109.0 million, or $(1.84) per diluted share, compared to a net loss of $40.6 million in Q2 2020. The adjusted net loss was $48.0 million, an improvement from $90.8 million the previous year. Adjusted EBITDA was $(6.7 million). The quarter was impacted by a $27.3 million mark-to-market expense related to RINs. While the refining segment faced an operating loss of $99.1 million, logistics showed growth with operating income of $14.5 million.
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