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Jun 30, 2020
Par Pacific Q2 2020 Earnings Report
Reported a net loss due to challenges from the pandemic, but retail operations achieved record results.
Key Takeaways
Par Pacific reported a net loss of $40.6 million, or $(0.76) per diluted share, for the quarter ended June 30, 2020, compared to net income of $28.2 million, or $0.56 per diluted share, for the same quarter in 2019. The company was negatively impacted by the pandemic, especially in its Hawaii Refining & Logistics segment, but saw record results from its Retail operations and positive Adjusted EBITDA from its Washington and Wyoming Refining & Logistics business units.
Net loss of $40.6 million, or $(0.76) per diluted share, compared to net income of $28.2 million, or $0.56 per diluted share, for the same quarter in 2019.
Adjusted Net Loss was $90.8 million, compared to Adjusted Net Income of $22.4 million in the second quarter of 2019.
Adjusted EBITDA was $(50.3) million, compared to $68.5 million in the second quarter of 2019.
Retail Adjusted EBITDA was a record $18.8 million, compared to $14.6 million in the second quarter of 2019.
Forward Guidance
Par Pacific did not provide specific forward guidance in its Q2 2020 earnings report. The company focused on its actions to manage the pandemic and its ability to thrive as economic activities resume.
Historical Earnings Impact
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Avg. Return Before/After Earnings
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