Par Pacific Holdings, Inc. Reports Earnings Results for the Third Quarter and Nine Months Ended September 30, 2023
November 06, 2023 at 04:15 pm EST
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Par Pacific Holdings, Inc. reported earnings results for the third quarter and nine months ended September 30, 2023. For the third quarter, the company reported sales was USD 2,579.31 million compared to USD 2,056.29 million a year ago. Net income was USD 171.42 million compared to USD 267.4 million a year ago. Basic earnings per share from continuing operations was USD 2.85 compared to USD 4.49 a year ago. Diluted earnings per share from continuing operations was USD 2.79 compared to USD 4.47 a year ago.
For the nine months, sales was USD 6,048.44 million compared to USD 5,512.91 million a year ago. Net income was USD 439.32 million compared to USD 279.47 million a year ago. Basic earnings per share from continuing operations was USD 7.29 compared to USD 4.7 a year ago. Diluted earnings per share from continuing operations was USD 7.18 compared to USD 4.68 a year ago.
Par Pacific Holdings, Inc. is an energy company, which provides both renewable and conventional fuels to the western United States. It owns and operates 125,000 barrels per day of combined refining capacity across three locations and an energy infrastructure network, including 7.6 million barrels of storage, and marine, rail, rack and pipeline assets. The Company has three segments. Refining segment owns and operates four refineries with total operating crude oil throughput capacity of 219 thousand barrels per day (Mbpd). Retail segment operates fuel retail outlets in Hawaii, Washington and Idaho. It operates convenience stores and fuel retail sites under Hele and nomnom brands, 76 branded fuel retail sites and other sites operated by third parties that sell gasoline, diesel, and retail merchandise, such as soft drinks, prepared foods, and other sundries. Logistics segment operates a multi-modal logistics network spanning the Pacific, the Northwest, and the Rocky Mountain regions.