The following is a summary of the Par Pacific Holdings, Inc. (PARR) Q3 2024 Earnings Call Transcript:
Financial Performance:
Q3 2024 adjusted EBITDA of $51 million.
Adjusted net loss was $0.10 per share.
Refining segment adjusted EBITDA was $20 million. Logistics segment reported adjusted EBITDA of $33 million and Retail adjusted EBITDA of $21 million.The company repurchased $22 million of common stock, reduced ABL borrowings by $14 million. Gross term debt as of end of the period was $546 million with total liquidity at $633 million.
Business Progress:
Record quarterly refining throughput was achieved with significant improvements in operational reliability especially in Billings and Hawaii.
Broke ground on the SAF Project in Hawaii, targeted for startup in second half of 2025.
Targeting a reduction of 2025 fixed operating expenses by $30 million to $40 million.
Opportunities:
Investment in Billings reliability and focus on cost competitiveness.
Development of the Hawaii SAF project to enhance renewable fuels capabilities.
Tips: For more comprehensive details, please refer to the IR website. The article is only for investors' reference without any guidance or recommendation suggestions.
