Every 10-Q that Par Pacific Holdings, Inc. (PARR) has filed with the SEC in the last 24 months is listed below, newest first, and each one links through to the document itself with the summary and the scores our analysis gives it.
A 10-Q covers the quarterly report filed between annual reports, so if you follow PARR and want that one kind of document rather than the whole filing history, this is the page to keep. The company's other filings, of every form, are on the full PARR filings page.
Par Pacific Holdings delivered much stronger results for the quarter ended June 30, 2026. Revenue rose to $2.97 billion from $1.89 billion a year earlier, and net income attributable to stockholders increased to $462.1 million (diluted EPS $9.35) from $59.5 million (EPS $1.17).
For the first half of 2026, revenue reached $4.79 billion and net income attributable to stockholders was $516.6 million. Management reports Adjusted EBITDA of $662.8 million, up sharply from $148.0 million, driven mainly by a large increase in refining segment margins as operations normalized versus the prior-year Wyoming outage and benefited from higher crude and product prices.
Total assets were $4.53 billion with cash and cash equivalents of $185.0 million. The company refinanced its capital structure by issuing $500 million of 7.375% senior notes due 2034 and extending its asset-based revolver to 2031 with $1.8 billion in commitments and $243.0 million drawn. Environmental credit exposures remain significant, with RINs and other credits of $364.9 million and related obligations of $376.6 million recorded at period end.
Par Pacific Holdings delivered a sharp turnaround in Q1 2026. Revenue rose to $1.82 billion from $1.75 billion, while net income attributable to stockholders swung from a $30.4 million loss to $54.5 million profit.
Refining drove the improvement: segment operating income moved from a $24.7 million loss to $56.3 million profit as total throughput increased to 184.3 Mbpd and Adjusted Gross Margin per barrel expanded to $11.16. Adjusted EBITDA climbed to $91.5 million from $10.1 million, reflecting stronger margins across Hawaii, Montana, Washington, and Wyoming refineries.
Despite higher earnings, operating cash flow was a use of $40.7 million, mainly from working capital and derivatives movements. The company ended the quarter with $172.5 million in cash and $958.9 million of debt, continued inventory financing arrangements, significant renewable fuel (RIN) obligations, and ongoing environmental and tax disputes.
Par Pacific Holdings (PARR) reported a sharply stronger quarter. For the three months ended September 30, 2025, revenue was $2,012,936 while operating income rose to $358,516. Net income jumped to $262,631, and diluted EPS was $5.16. The swing was driven by lower cost of revenues and higher equity earnings, offset partly by lower sales versus last year.
Cash generation and balance sheet trends improved. Year‑to‑date cash from operations reached $351,537, supporting capital expenditures of $121,338 and share repurchases of $97,277. Total debt, net, declined to $967,093, including $338,000 outstanding on the ABL; availability under the ABL was $576.1 million as of quarter‑end. Shares outstanding were 50,291,043 as of October 31, 2025.
Operating updates and obligations. The Wyoming refinery, idled after a February 12, 2025 incident, returned to full crude operations in late April. Environmental credit obligations increased to $366,355, alongside inventories that include $405,400 of RINs and environmental credits. Equity investments contributed meaningfully, with Laramie Energy equity earnings of $8,202 in the quarter.
Par Pacific Holdings (PARR) posted a sharply stronger second quarter. Q2-25 revenue fell 6% YoY to $1.89 billion, but operating income nearly doubled to $96.8 million and net income climbed to $59.5 million ($1.17 diluted EPS) from $18.6 million ($0.32) on wider refining margins, lower general & administrative costs and higher equity earnings. Six-month revenue slipped 9% to $3.64 billion; however, net income rose to $29.1 million from $14.9 million despite a Q1 loss driven by February’s Wyoming refinery outage, which was fully restored by late April.
Cash flow & liquidity. H1 cash from operations improved to $132.2 million (vs. $20.8 million) on working-capital releases and lower inventory. Capex was $89.1 million; share repurchases of $80.8 million retired 4.5 million shares, bringing outstanding shares to 50.8 million. Cash and equivalents declined to $169.5 million (-$22.7 million YTD). Available ABL liquidity stood at $477.8 million, with total debt unchanged at $1.13 billion (net leverage ≈1× annualized Q2 EBITDA).
Balance sheet highlights. Total assets rose slightly to $3.90 billion. Inventories dropped $47.8 million to $1.04 billion, while environmental credit obligations increased to $301.2 million. Stockholders’ equity dipped 3.6% to $1.15 billion, largely from buybacks. Long-term debt maturities are light; the $650 million term loan carries a 2030 maturity and interest-rate collars cap SOFR at ~5.5% on $550 million notional through 2029.
Outlook considerations. Key swing factors for 2H-25 are crack-spread sustainability, RIN pricing (new $450 million product-financing facility), and integration of the repaired Wyoming refinery. Management provides no formal guidance in the filing.