Par Pacific reported a net income of $18.6 million, or $0.32 per diluted share, for the second quarter of 2024. Adjusted EBITDA was $81.6 million. The company successfully completed the Billings turnaround on time and on budget and refinanced its working capital.
Net Income of $18.6 million, or $0.32 per diluted share
Adjusted Net Income of $28.5 million, or $0.49 per diluted share
Adjusted EBITDA of $81.6 million
Executed Billings turnaround on time and on budget
The news release includes forward-looking statements regarding expected market conditions, anticipated free cash flows, anticipated refinery throughput, anticipated cost savings, anticipated capital expenditures, anticipated retail sales volumes and on-island sales, the anticipated financial and operational results of Laramie Energy, LLC, the amount of our discounted net cash flows and the impact of our NOL carryforwards thereon, our ability to identify, acquire, and develop energy, related retailing, and infrastructure businesses, the timing and expected results of certain development projects, as well as the impact of such investments on our product mix and sales, the anticipated synergies and other benefits of the Billings refinery and associated marketing and logistics assets (“Billings Acquisition”), including renewable growth opportunities, the anticipated financial and operating results of the Billings Acquisition and the effect on Par Pacific's cash flows and profitability (including Adjusted EBITDA and Adjusted Net Income and Free Cash Flow per share), and other risks and uncertainties detailed in our Annual Report on Form 10-K, Quarterly Reports on Form 10-Q and any other documents that we file with the Securities and Exchange Commission.
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