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Dec 31, 2024
Par Pacific Q4 2024 Earnings Report
Par Pacific reported a net loss in Q4 2024, with a decrease in revenue and adjusted EBITDA compared to the previous year.
Key Takeaways
Par Pacific Holdings, Inc. reported a net loss of $(55.7) million, or $(1.01) per diluted share, for the fourth quarter ended December 31, 2024. This compares to a net income of $289.3 million, or $4.77 per diluted share, for the same quarter in 2023. Adjusted EBITDA for Q4 2024 was $10.9 million, a significant decrease from $122.0 million in Q4 2023.
Net loss of $(55.7) million reported for Q4 2024, a decline from net income in Q4 2023.
Adjusted EBITDA for Q4 2024 was $10.9 million, significantly lower than $122.0 million in Q4 2023.
Refining segment reported an operating loss of $(65.4) million in Q4 2024, compared to operating income of $174.0 million in Q4 2023.
Retail and Logistics segments showed increased operating income and Adjusted EBITDA in Q4 2024 compared to Q4 2023.
Forward Guidance
Par Pacific expects to restart the Wyoming refinery in mid-April 2025 at reduced throughput, returning to full operations by the end of May 2025. Laramie Energy plans to run a one-rig program throughout 2025, with approximately 79% of its 2025 production hedged.
Positive Outlook
- Wyoming refinery expected to restart in mid-April 2025.
- Wyoming refinery expected to return to full operations by end of May 2025.
- Laramie Energy plans to run a one-rig program throughout 2025.
- Approximately 79% of Laramie's 2025 production is hedged at $3.20 per MMBtu.
- Company's Board of Directors authorized repurchase of up to $250 million of common stock.
Challenges Ahead
- Wyoming refinery experienced an operational incident on February 12, 2025.
- Wyoming refinery remained safely idled through extreme winter weather conditions.
- Restart of Wyoming refinery will be at reduced throughput initially.
Historical Earnings Impact
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Avg. Return Before/After Earnings
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