Par Pacific Q1 Adjusted EPS, Net Income Miss Estimates Despite Revenue Beat
summarizeSummary
Par Pacific Holdings reported mixed first-quarter results, with revenue of $1.82 billion beating analyst estimates of $1.77 billion. However, the company missed expectations on key profitability metrics, reporting Adjusted EPS of $0.78 against an $0.81 consensus, Adjusted Net Income of $38.5 million versus $49.07 million, and Adjusted EBITDA of $91.5 million against $99.86 million. While the company achieved record Hawaii refining throughput and repurchased $28 million in stock, the significant misses on adjusted net income and EBITDA are material. Traders will likely focus on the profitability misses, which could put downward pressure on the stock. Investors should monitor future refining margins and the performance of the retail segment, which saw declines.
At the time of this announcement, PARR was trading at $64.51 on NYSE in the Energy & Transportation sector, with a market capitalization of approximately $3.4B. The 52-week trading range was $14.01 to $70.39. This news item was assessed with negative market sentiment and an importance score of 8 out of 10. Source: Reuters.