Par Pacific Crushes Q2 Estimates: Revenue Hits $2.97B, Adjusted EPS $10.10
PARR has more than doubled off its 52-week low of $26.83.
Summary
Par Pacific delivered a massive Q2 beat, with revenue of $2.97B smashing the $2.39B consensus and adjusted EPS of $10.10 nearly 26% above the $8.01 estimate. Adjusted EBITDA of $571M also blew past the $483M forecast. The outperformance was driven by higher refining margins, especially in Hawaii, and strong operational execution after completing turnaround maintenance. The company also highlighted a favorable margin environment and expects working capital tailwinds as commodity prices normalize. This follows the $500M senior notes offering closed in May, which reduced term debt by over $130M. With shares trading near a 52-week high and a P/E of just 7x, the results reinforce the bull case. Watch for analyst revisions and potential share repurchases under the existing $250M buyback program.
At the time of this announcement, PARR was trading at $84.69 on NYSE in the Energy & Transportation sector, with a market capitalization of approximately $4.2B. The 52-week trading range was $26.83 to $87.03. This news item was assessed with positive market sentiment and an importance score of 9 out of 10. Source: Reuters.