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Sat, February 28, 2026 astatine 2:08 PM CST 9 min read
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Par Pacific reported full-year adjusted EBITDA of $634 million and adjusted nett income of $7.56 per share, finished 2025 with grounds liquidity of $915 million, reduced gross indebtedness and shares outstanding (down ~10%), and executed indebtedness paydowns and buybacks to fortify the equilibrium sheet.
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The institution achieved grounds refining throughput — astir 188,000 barrels per day for the twelvemonth and 191,000 bpd successful Q4 — with Hawaii outperforming (2025 avg ~84,000 bpd; Q4 87,000 bpd) and a system-wide Q1 throughput midpoint guided to 182,000 bpd, portion Wyoming and Montana saw elevated costs from outages and maintenance.
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The Hawaii renewable fuels task moved into commissioning and aboriginal startup with palmy pretreatment tests, and Par Pacific received $100 million successful proceeds from the Hawaii renewables associated task that materially improved liquidity.
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Par Pacific (NYSE:PARR) executives utilized the company’s fourth-quarter net telephone to item what CEO Will Monteleone described arsenic “meaningful progress” successful 2025, including grounds refining throughput, grounds profits successful the logistics and retail segments, and a materially stronger equilibrium expanse pursuing proceeds from its Hawaii renewables associated task and continued stock repurchases.
Monteleone said the institution entered 2025 with 4 priorities: executing large turnaround enactment safely and connected schedule, minimizing the interaction from a Wyoming crude heater event, advancing and starting up the Hawaii renewables unit, and delivering outgo reductions. He said the institution “largely achieved those objectives” contempt a volatile refining backdrop.
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For the afloat year, Par Pacific reported adjusted EBITDA of $634 million and adjusted nett income of $7.56 per share. Monteleone said 2025 “further validates the structural improvements we’ve made to the business,” portion besides noting the Wyoming lawsuit was “a reminder…that we are ne'er finished erstwhile it comes to safely and reliably operating our facilities.”
EVP of Refining and Logistics Richard Creamer said the refining and logistics squad delivered “another grounds throughput year” of 188,000 barrels per day, led by higher rates successful Hawaii. He besides cited Montana’s “largest-ever turnaround” and said that aft the lawsuit the tract posted grounds quarterly throughput of 58,000 barrels per day.
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