PARR Par Pacific (PARR) Q4 FY25 earnings call
Par Pacific delivered a strong Q4 and full year 2025, marked by record refining throughput and segment profits across Logistics and Retail, alongside significant balance sheet strengthening. The company successfully navigated operational challenges, including a Wyoming heater event and a Montana turnaround, while advancing its Hawaii Renewables unit into commissioning. Management emphasizes a disciplined capital allocation strategy, balancing internal growth, opportunistic share repurchases, and potential synergistic external opportunities to expand mid-cycle earnings and free cash flow per sh
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PARR operating KPIs by quarter
| KPI | This call Dec 2025 Q4 FY25 | Mar 2026 Q1 FY26 | Jun 2026 Q2 FY26 | Change vs prior quarter |
|---|---|---|---|---|
| Refinery throughput Hawaii | 87K bbl/dIn Hawaii, throughput was strong at 87,000 barrels per day.Source: earnings call transcript | 90K bbl/dIn Hawaii, throughput was a record 90,000 barrels per day and production costs were $4.67 per barrel.Source: earnings call transcript | 73.2K bbl/dIn Hawaii, the Q2 throughput was 73,200 barrels per day and production costs were $6.43 per barrel.Source: earnings call transcript | -18.7% |
| Refinery throughput Washington | 37K bbl/dWashington throughput was 37,000 barrels per day, reflecting reduced rates ahead of the first quarter planned downtime and production costs were $4.57 per barrel.Source: earnings call transcript | 23K bbl/dThe first quarter Washington throughput was 23,000 barrels per day and production costs were $7.53 per barrel, driven by reduced rates related to the February planned downtime.Source: earnings call transcript | 41.2K bbl/dAs I stated, Washington throughput set a new quarterly record at 41,200 barrels per day and production costs were $4.21 per barrel, capturing market missions following the Q1 planned outage.Source: earnings call transcript | +79.1% |
| Refinery throughput Wyoming | 14K bbl/dShifting to Wyoming, throughput was 14,000 barrels per day, and production costs were elevated at $13.27 per barrel due to a third-party power outage in Northern Wyoming and lower seasonal throughput.Source: earnings call transcript | 15K bbl/dShifting to Wyoming, throughput was 15,000 barrels per day and production costs were $11.68 per barrel, reflecting lower seasonal throughput.Source: earnings call transcript | 14K bbl/dThroughput was 14,000 barrels per day and production costs were $15.28 per barrel, reflecting the April outage downtime and costs.Source: earnings call transcript | -6.7% |
| Refinery throughput Montana | 52K bbl/dFinally, in Montana, fourth quarter throughput was 52,000 barrels per day, and production costs were $11.74 per barrel, elevated by approximately $1.50 per barrel due to coker maintenance.Source: earnings call transcript | 57K bbl/dFinally, in Montana, first quarter throughput was 57,000 barrels per day and production costs were $9.05 per barrel.Source: earnings call transcript | 53K bbl/dFinally, in Montana, second quarter throughput was 53,000 barrels per day and production costs were $10.16 per barrel.Source: earnings call transcript | -7% |
Operating figures the company stated on at least two of the calls shown, checked against each call's transcript. Click a figure to read the sentence. A dash means it was not stated that quarter.
Inve summary of the company's earnings call; see how call summaries are prepared. Not investment advice.