Par Pacific

May 04, 2022

•

Mar 31, 2022

Par Pacific Q1 2022 Earnings Report

Par Pacific reported a net loss and Adjusted EBITDA was slightly positive due to a difficult first quarter, but the company completed refinery turnarounds and is positioned to benefit from strong market conditions.

Key Takeaways

Par Pacific reported a net loss of $(137.1) million, or $(2.31) per diluted share, for Q1 2022, compared to a net loss of $(62.2) million, or $(1.15) per diluted share, for the same quarter in 2021. Adjusted EBITDA was $8.3 million, compared to $(34.4) million in the first quarter of 2021. The results include a $(5.0) million RINs mark-to-market (MTM) expense. Despite the loss, the company successfully completed refinery turnarounds and expects to benefit from strong market conditions.

Net Loss of $(137.1) million, or $(2.31) per diluted share

Adjusted Net Loss of $(31.4) million, or $(0.53) per diluted share

Adjusted EBITDA of $8.3 million

Financial results include a $(5.0) million RINs mark-to-market (MTM) expense related to the 2019 and 2020 compliance years

Previous year: -$1.55

-65.8%