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Dec 31, 2021
Par Pacific Q4 2021 Earnings Report
Par Pacific's financial performance improved due to better market conditions, resulting in net income and positive adjusted EBITDA.
Key Takeaways
Par Pacific Holdings reported a net income of $8.1 million, or $0.14 per diluted share, for the fourth quarter of 2021, compared to a net loss of $(131.9) million for the same quarter in 2020. The company's adjusted net loss was $(13.0) million, and adjusted EBITDA was $26.8 million for the quarter.
Reported fourth quarter Net Income of $8.1 million, or $0.14 per diluted share.
Adjusted Net Loss for the fourth quarter was $(13.0) million, or $(0.22) per diluted share.
Full year 2021 Adjusted EBITDA was $61.5 million, including a $(46.1) million RINs mark-to-market (MTM) expense.
Refining segment reported operating income of $14.8 million in the fourth quarter of 2021, compared to an operating loss of $(121.4) million in the fourth quarter of 2020.
Forward Guidance
The business environment is improving, and the company's focus is shifting to operational reliability and meeting rising demand in its markets. Par Pacific is also reviewing opportunities for growth in its operating regions and energy transition projects within its asset base.
Positive Outlook
- Improved market conditions during the second half of 2021
- Built significant financial and strategic momentum entering 2022
- Focus on operational reliability
- Meeting rising demand in our markets
- Reviewing opportunities for growth in our operating regions and energy transition projects within our asset base
Historical Earnings Impact
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Avg. Return Before/After Earnings
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