Par Pacific Holdings

PARR

Market cap $2.15B

Par Pacific Holdings, Inc. (PARR) Q4 2025 Earnings Call Transcript

Par Petroleum (PARR) came out with quarterly earnings of $1.17 per share, missing the Zacks Consensus Estimate of $1.21 per share. This compares to a loss of $0.79 per share a year ago.

HOUSTON, Feb. 24, 2026 (GLOBE NEWSWIRE) -- Par Pacific Holdings, Inc. (NYSE: PARR) (“Par Pacific” or the “Company”) today reported its financial results for the fourth quarter and twelve months ended December 31, 2025. Net income attributable to Par Pacific stockholders of $77.7 million, or $1.53 per diluted share, for the fourth quarter and $369.4 million, or $7.16 per diluted share, for the full year Adjusted Net Income attributable to Par Pacific stockholders of $59.5 million, or $1.17 per diluted share, for the fourth quarter and $390.1 million, or $7.56 per diluted share, for the full year Adjusted EBITDA of $113.1 million for the fourth quarter and $633.5 million for the full year Repurchased 0.7 million shares in the fourth quarter, bringing total 2025 repurchases to 6.5 million shares at an average price of approximately $19 per share, reducing shares outstanding by 10% Par Pacific reported Net income attributable to Par Pacific stockholders of $369.4 million, or $7.16 per diluted share, for the twelve months ended December 31, 2025, compared to a Net loss attributable to Par Pacific stockholders of $(33.3) million, or $(0.59) per diluted share, for the twelve months ended December 31, 2024.

PARR gears up for Q4 results as estimates point to a sharp EPS jump, with lower crude prices and a positive ESP hinting at a beat.

Par Pacific Holdings (PARR) earns a strong buy rating, driven by successful Billings integration, robust buybacks, and a strategic pivot to sustainable energy. PARR's island economics, high entry barriers, and stable logistics/retail segments provide a resilient moat and derisk valuation, versus typical small-cap refiners. Float shrinkage is material: 2024 buybacks retired ~9% of shares, with a new $250M program targeting another 11.5%, amplifying upside.

Par Petroleum (PARR) possesses the right combination of the two key ingredients for a likely earnings beat in its upcoming report. Get prepared with the key expectations.

Par Pacific Holdings (PARR) is rated Strong Buy, driven by its 52% distillate yield and structural exposure to widening Singapore gasoil cracks. PARR's Hawaii and Montana assets convert discounted crude into high-margin distillate cash flows, supported by low production costs and a Combined Index outpacing peers. The Hawaii SAF project and aggressive buybacks, alongside a forward FCF yield of ~18%, underpin over 50% upside versus peers trading at 12-13% yields.

Par Petroleum (PARR) has an impressive earnings surprise history and currently possesses the right combination of the two key ingredients for a likely beat in its next quarterly report.

HOUSTON, Feb. 03, 2026 (GLOBE NEWSWIRE) -- Par Pacific Holdings, Inc. (NYSE: PARR) (“Par Pacific”) today announced that it will release its fourth quarter 2025 results after the New York Stock Exchange closes on Tuesday, February 24, 2026. This release will be followed by a conference call for investors on Wednesday, February 25, 2026, at 9:00 a.m. Central Time (10:00 a.m. Eastern). The full text of the release will be available on Par Pacific's website at http://www.parpacific.com.

Par Pacific Holdings remains a compelling long-term value, even after a 113% run, due to resilient earnings and aggressive buybacks. PARR's diversified segments—refining, logistics, and retail—provide stability, with logistics and retail showing strong margin and income growth. The Billings refinery acquisition delivered rapid payback; SRE exemptions and Canadian oil discounts further boost near-term margins.