Welcome to our dedicated page for Par Pcifc Hldngs news (Ticker: PARR), a resource for investors and traders seeking the latest updates and insights on Par Pcifc Hldngs stock.
Par Pacific Holdings, Inc. (NYSE: PARR) generates frequent news as an energy company headquartered in Houston, Texas with refining, logistics, retail and renewable fuels operations focused on the western United States. Company announcements often cover refinery performance, segment results, capital allocation decisions and developments in its renewable fuels strategy.
Recent news releases have highlighted quarterly financial results for its refining, retail and logistics segments, including updates on refinery throughput in Hawaii, the Pacific Northwest and the Rockies. Par Pacific’s disclosures also describe stock repurchase activity, liquidity, term debt balances and changes to its term loan credit agreement, such as amendments that adjust interest margins.
Another recurring news theme is Par Pacific’s investment in renewable fuels, particularly through Hawaii Renewables, LLC, a joint venture co-located with the Kapolei refinery. News items have detailed the signing and closing of the joint venture with Alohi Renewable Energy LLC, the expected production of renewable diesel, sustainable aviation fuel, renewable naphtha and low carbon liquified petroleum gases, and related commodity swap and credit arrangements. Announcements have also covered partnerships involving Par Hawaii in the development of sustainable aviation fuel in Hawaii.
Investors following PARR news can expect updates on capital expenditure guidance, turnaround plans, financing arrangements, renewable fuels projects, and equity earnings from Laramie Energy, LLC, in which Par Pacific holds a significant interest. Bookmarking this news feed provides a single place to review Par Pacific’s earnings releases, transaction announcements, joint venture milestones and other material company communications as they are reported.
Par Pacific Holdings (NYSE: PARR) announced that Will Monteleone, Chief Financial Officer, will present virtually and hold 1x1 meetings with investors at the Goldman Sachs 6th Annual Credit and Leveraged Finance Conference on May 17, 2021. The latest investor presentation can be accessed on the company's website. Par Pacific operates substantial energy and retail businesses, including a significant refining capacity in Hawaii and the Pacific Northwest, alongside a stake in Laramie Energy, a natural gas production company.
Par Pacific Holdings reported a net loss of $62.2 million for Q1 2021, translating to $(1.15) per diluted share, marking an improvement from a net loss of $222.3 million in the same quarter of 2020. Adjusted EBITDA stood at $(43.3) million, significantly down from $13.7 million year-on-year. The refining segment faced an operating loss of $90.9 million, although it was an improvement compared to the previous year’s $168.6 million loss. The company executed an equity offering, raising $87.4 million in March 2021, contributing to a cash balance of $214.7 million as of March 31, 2021.
Par Pacific Holdings, Inc. (NYSE: PARR) will release its first quarter 2021 results on May 5, 2021, post market close.
A conference call for investors is scheduled for May 6, 2021, at 9:00 a.m. Central Time. Interested participants can join by dialing 1-866-807-9684 toll-free.
Par Pacific operates significant energy assets including a major network in Hawaii with 94,000 bpd refining capacity and additional operations in the Pacific Northwest and Rockies.
Details for accessing the webcast and replay are available on the company’s website.
Par Pacific Holdings, Inc. (NYSE: PARR) has priced a public offering of 5,000,000 shares of common stock at $16.00 per share, with a 30-day option for underwriters to purchase an additional 750,000 shares. The offering is set to close on March 19, 2021, pending customary conditions. Proceeds will be used for general corporate purposes, including debt repayment and capital expenditures. J.P. Morgan and Goldman Sachs are the lead bookrunners for the offering, which is made under an effective shelf registration statement.
Par Pacific Holdings, Inc. (NYSE: PARR) announced a public offering of 5,000,000 shares of common stock, with an option for underwriters to purchase an additional 750,000 shares. The proceeds will be allocated to general corporate purposes, including repaying debt and funding capital expenditures. The offering is managed by J.P. Morgan and Goldman Sachs, pending market conditions. This move follows an effective shelf registration statement filed with the SEC.
Par Pacific Holdings, Inc. (NYSE: PARR) announced participation in several upcoming virtual conferences throughout March 2021. Key events include the Credit Suisse 26th Annual Energy Summit on March 2-3, the BofA Securities 2021 Refining Conference on March 10, and the 49th Annual Scotia Howard Weil Energy Conference on March 24. Investors can access the latest presentation on the investor relations section of Par Pacific’s website. The company operates significant energy and retail businesses across Hawaii and the Pacific Northwest, with a refining capacity of 94,000 bpd in Hawaii and 60,000 bpd in the Rockies.
Par Pacific Holdings, Inc. (NYSE: PARR) reported significant financial losses for the fiscal year and fourth quarter ended December 31, 2020. The company recorded a net loss of $409.1 million, or $(7.68) per share, with an adjusted net loss of $249.8 million. The fourth quarter saw a net loss of $131.9 million, compared to a profit of $35.4 million the year prior. Despite these challenges, the company completed a renewables logistics project and reduced operating expenses by approximately $55 million. A recent sale-leaseback of Hawaii retail properties aims to enhance liquidity.
Par Pacific Holdings (PARR) has successfully completed a sale-leaseback transaction with Realty Income Corporation, selling 21 retail convenience store properties in Hawaii for $109.4 million. The transaction includes a master lease agreement, allowing Par Hawaii to lease the properties for 15 years, with an option to extend for an additional 20 years. Approximately $51.7 million of the proceeds will be used to repay debt, while the remainder is allocated for general corporate purposes. The company assures no disruptions in operations due to this transaction.
Par Pacific Holdings, Inc. (NYSE: PARR) announced a sale-leaseback transaction with Realty Income Corporation, involving the sale of 22 retail convenience store/fuel station properties in Hawaii for $116.1 million. The company will lease back the properties for 15 years with an option to extend for 20 years. Approximately $53.2 million from the proceeds will be used to repay debt, with the remainder for general corporate purposes. The transaction is expected to close in Q1 2021 without disruption to operations.
Par Pacific Holdings, Inc. (NYSE: PARR) will release its fourth quarter 2020 results on February 24, 2021, after market closure. An investor conference call is scheduled for February 25, 2021, at 9:00 a.m. Central Time. Participants should dial in 10 minutes early at either 1-866-807-9684 (toll-free) or 1-412-317-5415 (toll). A replay will be available until March 11, 2021. Par Pacific operates major energy networks in Hawaii and the Pacific Northwest, featuring significant refining capacities and retail locations. Further details are available on their website.