Par Pacific Q3 revenue jumps 44%, beats estimates
Overview
U.S. energy company's Q3 revenue rose sharply, beating analyst expectations
Adjusted EPS for Q3 beat analyst expectations
Q3 adjusted EBITDA exceeded analyst estimates
Outlook
Company expects to maintain reliable operations amid strong margin environment
Par Pacific expects to monetize excess RIN position by year end 2026
Company expects to receive about $120 mln in cash from Laramie Energy divestment by year end
Result Drivers
SMALL REFINERY EXEMPTION - Co said EPA-granted small refinery exemptions contributed $187.2 mln to adjusted net income and $222 mln to adjusted EBITDA in Q3
RENEWABLES PROFITABILITY - Co said Renewables segment delivered its first profitable quarter, per CEO Will Monteleone
STRONG REFINING MARGINS - Higher regional refining margins contributed to improved segment results
Company press release:
Key Details
Metric | Beat/Miss | Actual | Consensus Estimate |
Q3 Revenue | Beat | $3.05 bln | $2.19 bln (6 Analysts) |
Q3 Adjusted EPS | Beat | $10.70 | $6.30 (6 Analysts) |
Q3 EPS | $7.11 | ||
Q3 Adjusted Net Income attributable | Beat | $531.50 mln | $304.01 mln (5 Analysts) |
Q3 Net Income | $354.94 mln | ||
Q3 Adjusted EBITDA | Beat | $646 mln | $383.67 mln (8 Analysts) |
Analyst Coverage
The current average analyst rating on the shares is "buy" and the breakdown of recommendations is 4 "strong buy" or "buy", 4 "hold" and no "sell" or "strong sell"
The average consensus recommendation for the oil & gas refining and marketing peer group is "buy"
Wall Street's median 12-month price target for Par Pacific Holdings, Inc. is $91.00, about 26.1% above its November 2 closing price of $72.16
The stock recently traded at 4 times the next 12-month earnings vs. a P/E of 7 three months ago
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(This story was created using Reuters automation and AI based on LSEG and company data. It was checked and edited by a Reuters journalist prior to publication.)