NYSE$PARR

Par Pacific Holdings Inc · Q3 2023 earnings

Q3 2023 earnings · · Investor relations

Briefing

Reported exceptional financial results driven by outstanding performance and the accretive Billings acquisition.

Par Pacific reported a net income of $171.4 million, or $2.79 per diluted share, for the quarter ended September 30, 2023. The company's Adjusted Net Income was $193.5 million and Adjusted EBITDA was a record $255.7 million.

  • Net Income was $171.4 million, or $2.79 per diluted share.
  • Adjusted Net Income was $193.5 million, or $3.15 per diluted share.
  • Adjusted EBITDA reached a record of $255.7 million.
  • The company repurchased $27 million of common stock while reducing debt and increasing liquidity.

Headline financials

Total Revenue

$2.58B

Previous: $2.06B+25.4%
EPS (adj)

$3.15

Previous: $2.88+9.4%
Refined Product Sales

217.3

No prior period
Washington Throughput

41

No prior period
Wyoming Throughput

19.5

No prior period
Retail Fuel Volumes

31.1K

No prior period
Capital Expenditures

-$23M

Previous: -$9.04M-154.4%
Free Cash Flow

$148M

Previous: $258M-42.6%
Net Income

$171M

Previous: $267M-35.9%
Operating Income

$197M

Previous: $284M-30.7%
Gross Profit

-$2.18B

Previous: -$1.64B-32.5%
Cash & Equivalents

$347M

Previous: $409M-15.2%
Total Assets

$3.89B

Previous: $3.11B+25.2%
Stock-Based Comp

$2.87M

Previous: $1.61M+78.2%

Revenue & EPS history

Par Pacific · Revenue · Quarterly

$2.58B

Q3 2023+25.4%vs Q3 2022
Beat estimate in 12 of 15 quarters(80%)
ActualEstimate

Forward guidance

No forward guidance was provided in the earnings report.

Historical earnings impact

How earnings announcements have historically affected this stock's price.

Avg. return before/after earnings

Based on 20 quarterly earnings reports · overlaid with Q3 2023

Historical avgQ3 2023

-0.9%

Avg return

Earnings day

+0.9%

Avg return

5 days after

+3.0%

Avg return

30 days after

38%

20 / 53 earnings

Positive

+25.5%

Q3 2020

Best reaction

-16.2%

Q4 2015

Worst reaction

Earnings price reactions
QuarterReport dateReaction (Day 0)+5 days+30 days
Q1 2026-10.0%-6.9%-19.7%
Q4 2025-6.2%+12.3%+60.1%
Q3 2025-7.2%+6.9%+7.8%
Q1 2025+10.6%+23.0%+43.9%
Q4 2024-9.7%-14.4%-7.6%
Q3 2024-3.2%+3.4%+4.0%
Q2 2024+2.2%+3.5%-13.3%
Q1 2024-3.5%-5.0%-19.0%
Q4 2023-9.6%-11.0%-8.2%
Q3 2023-0.1%+1.2%+1.2%
Q2 2023+8.8%+14.9%+10.6%
Q1 2023-5.6%-7.1%-0.8%
Q4 2022+0.8%+7.5%+7.7%
Q3 2022+0.7%+1.5%-0.4%
Q2 2022+10.3%+19.4%+11.4%
Q1 2022-8.0%-14.3%+12.1%
Q4 2021-5.5%-8.2%-16.8%
Q3 2021-0.8%+3.7%-12.5%
Q2 2021-13.5%-11.2%-11.6%
Q1 2021-8.0%-13.4%-7.8%
Q4 2020+2.7%+6.1%-20.1%
Q3 2020+25.5%+29.5%+97.7%
Q2 2020+9.7%+15.2%+5.9%
Q1 2020-8.1%-3.9%+16.6%
Q4 2019-7.6%-10.8%-55.7%
Q3 2019+6.1%+6.4%+2.8%
Q2 2019-2.2%-3.1%-3.8%
Q1 2019-2.1%+5.2%-0.0%
Q4 2018-1.5%-1.5%+8.0%
Q3 2018+0.1%-6.2%-2.4%
Q2 2018+1.3%+0.3%+18.0%
Q1 2018-1.3%-1.2%+3.5%
Q4 2017+9.8%+8.1%+2.4%
Q3 2017-5.2%-9.2%-3.6%
Q2 2017-4.9%-2.4%+0.9%
Q1 2017+0.0%-1.1%-0.4%
Q4 2016+5.9%+5.2%+11.0%
Q3 2016+6.3%+7.8%+15.1%
Q2 2016-10.7%-15.1%-18.1%
Q1 2016-10.3%
Q4 2015-16.2%
Q3 2015+3.0%
Q2 2015+14.5%
Q1 2015-4.4%
Q4 2014+7.0%
Q3 2014-4.7%
Q2 2014-0.2%
Q1 2014-5.2%
Q4 2013-5.2%
Q3 2013-6.9%
Q2 2013+0.0%
Q1 2013+8.5%
Q4 2012+7.6%
Q4 2009
Q1 2012
Q2 2012
Q4 2011
Q1 2011
Q3 2010
Q3 2011
Q2 2010
Q2 2011
Q4 2010
Q1 2010

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