At 17:30 EDT, Par Pacific (PARR, Financial) submitted an automatic mixed securities shelf registration. This strategic move positions the company to issue various types of securities in the future, allowing for greater financial flexibility and rapid response to market opportunities. By preparing for potential offerings, Par Pacific aims to strengthen its capital structure amid fluctuating market conditions.
Wall Street Analysts Forecast
Based on the one-year price targets offered by 6 analysts, the average target price for Par Pacific Holdings Inc (PARR, Financial) is $20.29 with a high estimate of $26.00 and a low estimate of $14.75. The average target implies an upside of 6.18% from the current price of $19.11. More detailed estimate data can be found on the Par Pacific Holdings Inc (PARR) Forecast page.
Based on the consensus recommendation from 8 brokerage firms, Par Pacific Holdings Inc's (PARR, Financial) average brokerage recommendation is currently 2.4, indicating "Outperform" status. The rating scale ranges from 1 to 5, where 1 signifies Strong Buy, and 5 denotes Sell.
Based on GuruFocus estimates, the estimated GF Value for Par Pacific Holdings Inc (PARR, Financial) in one year is $22.97, suggesting a upside of 20.2% from the current price of $19.11. GF Value is GuruFocus' estimate of the fair value that the stock should be traded at. It is calculated based on the historical multiples the stock has traded at previously, as well as past business growth and the future estimates of the business' performance. More detailed data can be found on the Par Pacific Holdings Inc (PARR) Summary page.
PARR Key Business Developments
Release Date: May 07, 2025
- Adjusted EBITDA: $10 million for the first quarter.
- Adjusted Net Loss: $0.94 per share.
- Same Store Sales: Fuel revenue increased by 0.5% and in-store revenue by 1.8% compared to Q1 2024.
- Share Repurchase: Reduced shares outstanding by 5% compared to the end of 2024.
- Liquidity: $525 million as of March 31.
- Combined Throughput: 176,000 barrels per day in Q1.
- Hawaii Throughput: 79,000 barrels per day with production costs of $4.81 per barrel.
- Washington Throughput: 39,000 barrels per day with production costs of $4.16 per barrel.
- Wyoming Throughput: 6,000 barrels per day, with elevated OpEx by $6 million due to outage.
- Montana Throughput: 52,000 barrels per day with production costs of $10.56 per barrel.
- Refining Segment EBITDA: Adjusted EBITDA loss of $14 million in Q1.
- Logistics Segment EBITDA: $30 million in Q1.
- Retail Segment EBITDA: $19 million in Q1.
- Corporate Expenses: $24 million in Q1.
- Cash Used in Operations: $1 million, including $28 million of turnaround expenditures.
- Capital Expenditures: $41 million in Q1.
- Gross Term Debt: $642 million as of March 31.
For the complete transcript of the earnings call, please refer to the full earnings call transcript.
Positive Points
- Par Pacific Holdings Inc (PARR, Financial) reported an improvement in market conditions, with their combined index up by $6 per barrel so far this quarter.
- The retail business delivered solid results with quarterly same-store fuel and in-store revenue increasing by 0.5% and 1.8% respectively compared to the first quarter of 2024.
- The company successfully reduced its shares outstanding by 5% compared to the end of 2024, indicating strong capital management.
- Par Pacific Holdings Inc (PARR) is nearing completion of the Montana turnaround on time and on budget, which is expected to enhance flexibility and competitiveness.
- The company remains in an excess capital position with liquidity of $525 million, supporting strategic priorities and share repurchases.
Negative Points
- First quarter adjusted EBITDA was only $10 million, and the company reported an adjusted net loss of $0.94 per share.
- The refining segment reported an adjusted EBITDA loss of $14 million in the first quarter.
- Wyoming operations experienced elevated operating expenses by $6 million due to an outage, with an additional $4 million expected in the second quarter.
- Montana's first quarter production costs were high at $10.56 per barrel, reflecting ongoing turnaround activities.
- Washington's throughput was impacted by seasonal demand, with production costs at $4.16 per barrel, and the capture rate was only 50%.
