Par Pacific Holdings Inc (PARR) Q3 2024 Earnings Call Highlights: Record Refining Throughput ...

GuruFocus.com11-06

Adjusted EBITDA: $51 million for the third quarter. Adjusted Net Loss: $0.10 per share. Refining Throughput: Record of over 198,000 barrels per day. Same-Store Fuel Volumes: Declined by 1.4%. ...

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overflow: hidden}\n.head .h-thumb { width: 30px; height: 30px; margin: 0; padding: 0; border-radius: 50%; float: left;}\n.head .h-content { margin: 0; padding: 0 0 0 9px; float: left;}\n.head .h-name {font-size: 13px; color: #eee; margin: 0;}\n.head .h-time {font-size: 11px; color: #7E829C; margin: 0;line-height: 11px;}\n.small {font-size: 12.5px; display: inline-block; transform: scale(0.9); -webkit-transform: scale(0.9); transform-origin: left; -webkit-transform-origin: left;}\n.smaller {font-size: 12.5px; display: inline-block; transform: scale(0.8); -webkit-transform: scale(0.8); transform-origin: left; -webkit-transform-origin: left;}\n.bt-text {font-size: 12px;margin: 1.5em 0 0 0}\n.bt-text p {margin: 0}\n</style>\n</head>\n<body>\n<div class=\"wrapper\">\n<header>\n<h2 class=\"title\">\nPar Pacific Holdings Inc (PARR) Q3 2024 Earnings Call Highlights: Record Refining Throughput ...\n</h2>\n\n<h4 class=\"meta\">\n\n\n2024-11-06 15:17 GMT+8&nbsp;&nbsp;&nbsp;<a href=https://finance.yahoo.com/news/par-pacific-holdings-inc-parr-071724099.html><strong>GuruFocus.com</strong></a>\n\n\n</h4>\n\n</header>\n<article>\n<div>\n<p>Adjusted EBITDA: $51 million for the third quarter.\nAdjusted Net Loss: $0.10 per share.\nRefining Throughput: Record of over 198,000 barrels per day.\nSame-Store Fuel Volumes: Declined by 1.4%.\n...</p>\n\n<a href=\"https://finance.yahoo.com/news/par-pacific-holdings-inc-parr-071724099.html\">Source Link</a>\n\n</div>\n\n\n</article>\n</div>\n</body>\n</html>\n","isBrief":false,"type":0,"news_type":1,"symbol":"PARR","symbol_name":"Par Pacific","start_time":0,"source_url":"https://finance.yahoo.com/news/par-pacific-holdings-inc-parr-071724099.html","article_id":"2481164072","we_media_id":null,"thumbnails":["https://s.yimg.com/uu/api/res/1.2/FJeai_0D5gX2kylulA4R6g--~B/aD0xODA7dz0xODA7YXBwaWQ9eXRhY2h5b24-/https://media.zenfs.com/en/us.finance.gurufocus/e6d614d64064e35ac13d46542d68d50d"],"rights":null,"url":"https://stock-news.laohu8.com/highlight/detail?id=2481164072","pubTimestamp":1730877444,"sourceInfo":{"source_id":"yahoofinance","name":"雅虎金融"},"weMediaInfo":null,"summary":"Adjusted EBITDA: $51 million for the third quarter.Refining Throughput: Record of over 198,000 barrels per day.Merchandise Sales Growth: Increased by 3.8% compared to Q3 2023.Total Fuel Volumes: Increased by approximately 100,000 gallons.Common Stock Repurchase: $22 million during the third quarter.Total Liquidity: $633 million as of September 30.GuruFocus has detected 6 Warning Sign with PARR.For the complete transcript of the earnings call, please refer to the full earnings call transcript.Par Pacific Holdings Inc  achieved a record quarterly refining throughput of over 198,000 barrels per day, demonstrating strong operational performance.The company reported record logistics adjusted EBITDA, indicating robust performance in its logistics segment.Q: Can Par Pacific sustain $30 million-plus of logistics EBITDA in a low 90s utilization environment?A: Shawn Flores, CFO, indicated that while logistics mid-cycle guidance is $115 million annually, implying about $29 million per quarter, hi","collect":0,"end_time":0,"defaultTopTitle":"yahoo.com","property":["earning"],"viewcount":null,"language":"en","relate_stocks":{"PARR":"Par Pacific"},"translate_title":"Par Pacific Holdings Inc(PARR)2024年第三季度收益看涨期权亮点：炼油吞吐量创纪录...","themeId":null,"isJumpTheme":false,"ttsUrl":null,"symbols_score_info":{"PARR":1},"content_text":"Adjusted EBITDA: $51 million for the third quarter.\nAdjusted Net Loss: $0.10 per share.\nRefining Throughput: Record of over 198,000 barrels per day.\nSame-Store Fuel Volumes: Declined by 1.4%.\nMerchandise Sales Growth: Increased by 3.8% compared to Q3 2023.\nTotal Fuel Volumes: Increased by approximately 100,000 gallons.\nRefining Segment Adjusted EBITDA: $20 million.\nLogistics Segment Adjusted EBITDA: $33 million.\nRetail Segment Adjusted EBITDA: $21 million.\nNet Cash Provided by Operations: $79 million.\nCash Used in Investing Activities: $28 million.\nCommon Stock Repurchase: $22 million during the third quarter.\nTotal Liquidity: $633 million as of September 30.\n\n\nWarning! GuruFocus has detected 6 Warning Sign with PARR.\n\nRelease Date: November 05, 2024\nFor the complete transcript of the earnings call, please refer to the full earnings call transcript.\n Positive Points \n\nPar Pacific Holdings Inc (NYSE:PARR) achieved a record quarterly refining throughput of over 198,000 barrels per day, demonstrating strong operational performance.\nThe company reported record logistics adjusted EBITDA, indicating robust performance in its logistics segment.\nPar Pacific Holdings Inc (NYSE:PARR) is targeting a reduction in 2025 fixed operating expenses by $30 million to $40 million, which will enhance its ability to thrive in various market cycles.\nThe Hawaii SAF project is on track for startup in the second half of 2025, which is expected to contribute to future growth.\nThe company maintains a strong liquidity position with $633 million, providing flexibility for strategic growth and investments.\n\n Negative Points \n\nPar Pacific Holdings Inc (NYSE:PARR) reported an adjusted net loss of $0.10 per share for the third quarter, indicating financial challenges.\nThe refining segment's adjusted EBITDA decreased to $20 million from $60 million in the previous quarter, reflecting a challenging market environment.\nSame-store fuel volumes in the retail segment declined by 1.4%, indicating potential challenges in maintaining retail sales momentum.\nThe Washington refinery faced a tough quarter with low capture rates, highlighting difficulties in the West Coast market.\nThe company's operating expenses in Billings were higher than the $10 per barrel target, suggesting room for cost optimization.\n\n Q & A Highlights \nQ: How does Par Pacific plan to approach share buybacks given the current crack environment and attractive share prices? A: Shawn Flores, CFO, stated that Par Pacific will maintain an opportunistic approach to share buybacks, balancing the opportunity to buy back stock at attractive prices with the need to maintain a strong balance sheet to support strategic growth and capital investments.\nQ: Can Par Pacific sustain $30 million-plus of logistics EBITDA in a low 90s utilization environment? A: Shawn Flores, CFO, indicated that while logistics mid-cycle guidance is $115 million annually, implying about $29 million per quarter, higher than mid-cycle margins are typically seen in the summer due to full rates and maximized sales volume.\nQ: What are the plans to reduce operating expenses by $30 million to $40 million in 2025? A: CEO William Monteleone explained that reductions will come from corporate expenses, particularly by consolidating IT systems post-Billings acquisition, and a mix of refining and logistics costs, primarily impacting refining OpEx.\nQ: What is the long-term outlook for the Washington refinery given the tough market conditions? A: CEO William Monteleone emphasized that despite a challenging market, the Tacoma refinery benefits from low operating costs and feedstock advantages, allowing it to minimize cash consumption and participate in market upsides.\nQ: How is Par Pacific managing the turnaround schedule and what does this mean for capital requirements? A: Richard Creamer, EVP of Refining and Logistics, noted improvements in mechanical integrity have allowed for extended turnaround schedules, reducing costs. Shawn Flores, CFO, mentioned they continue to guide towards $40 million of amortized expenditures over the cycle.\nFor the complete transcript of the earnings call, please refer to the full earnings call transcript.This article first appeared on \nGuruFocus.","kind":null,"is_publish_news":true,"is_publish_highlight":false,"is_publish_live":false,"is_publish_wemedia":null,"editions":null,"column":"","sentiment":"0","news_tag":"","news_rank":0,"symbols":[],"gpt_button":1},"commentList":[],"isCommentEnd":true,"newsSizeData":{"likeSize":0,"commentSize":0,"repostSize":0,"favoriteSize":0,"likeStatus":false,"favoriteStatus":false},"APP":{"userAgent":"Mozilla/5.0 AppleWebKit/537.36 (KHTML, like Gecko; compatible; ClaudeBot/1.0; +claudebot@anthropic.com)","isDev":false,"isTTM":true,"deviceId":"web-server-community-laohu8-v3","version":"4.29.3","shortVersion":"4.29.3","platform":"web","vendor":"web","appName":"ttm","isIOS":false,"isAndroid":false,"isTiger":false,"isTHS":false,"isWeiXin":false,"isWeiXinMini":false,"isWeiBo":false,"isQQ":false,"isBaiduSwan":false,"isBaiduBox":false,"isDingTalk":false,"isToutiao":false,"isOnePlus":false,"isHuaWei":false,"isXiaomi":false,"isXiaomiWebView":false,"isOppo":false,"isVivo":false,"isSamsung":false,"isMobile":false},"href":"/m/news/2481164072"}