Overview
Par Pacific Q3 revenue beats analyst expectations, driven by strong refining operations
Adjusted EPS for Q3 exceeds analyst estimates, reflecting robust operational performance
Company repurchased $16.4 mln of common stock
Outlook
Par Pacific plans to continue pursuing growth opportunities and share repurchases
Company's financial position and outlook remain strong
Result Drivers
SRE IMPACT - Small refinery exemption contributed approximately $200 mln to Adjusted Net Income and EBITDA
REFINING PERFORMANCE - Strong refining operations increased operating income and adjusted gross margin, driven by SRE impact
HAWAII JV CLOSURE - Closure of Hawaii Renewables joint venture provided $100 mln cash proceeds
Key Details
Metric | Beat/Miss | Actual | Consensus Estimate |
Q3 Revenue | Beat | $2.01 bln | $1.75 bln (6 Analysts) |
Q3 Adjusted EPS | Beat | $5.95 | $1.89 (7 Analysts) |
Q3 EPS | $5.16 | ||
Q3 Adjusted Net Income | Beat | $302.60 mln | $94.76 mln (6 Analysts) |
Q3 Net Income | $262.63 mln | ||
Q3 Adjusted EBITDA | Beat | $372.50 mln | $182.40 mln (8 Analysts) |
Analyst Coverage
The current average analyst rating on the shares is "buy" and the breakdown of recommendations is 4 "strong buy" or "buy", 4 "hold" and no "sell" or "strong sell"
The average consensus recommendation for the oil & gas refining and marketing peer group is "buy"
Wall Street's median 12-month price target for Par Pacific Holdings Inc is $39.00, about 5.7% below its November 3 closing price of $41.21
The stock recently traded at 10 times the next 12-month earnings vs. a P/E of 11 three months ago
Press Release: ID:nGNX9sfdcl
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(This story was created using Reuters automation and AI based on LSEG and company data. It was checked and edited by a Reuters journalist prior to publication.)