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Sep 30, 2022
Par Pacific Q3 2022 Earnings Report
Reported exceptionally strong results, including record contribution from retail and logistics, as high refining reliability was maintained and company benefited from industry-leading distillate orientation.
Key Takeaways
Par Pacific reported a net income of $267.4 million for Q3 2022, a significant increase compared to $81.8 million in the same quarter of 2021. The company's Adjusted EBITDA also saw a substantial rise, reaching $214.1 million compared to $58.2 million in Q3 2021.
Net Income of $267.4 million, or $4.47 per diluted share
Adjusted Net Income of $172.0 million, or $2.88 per diluted share
Adjusted EBITDA of $214.1 million
Record Retail and Logistics segment Adjusted EBITDA
Forward Guidance
As previously announced on October 20, 2022, the acquisition of ExxonMobil’s Billings refinery and related logistics assets will significantly enhance the Company’s scale and geographic diversification and expands Par Pacific’s fully integrated downstream network in the western United States. The transaction is expected to close in the second quarter of 2023.
Positive Outlook
- Significantly enhance the Company’s scale
- enhance geographic diversification
- expands Par Pacific’s fully integrated downstream network in the western United States
- acquisition of ExxonMobil’s Billings refinery
- acquisition of related logistics assets
Historical Earnings Impact
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Avg. Return Before/After Earnings
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