Par Pacific-Par Petroleum (PARR) Reports Q3 Loss, Tops Revenue Estimates

Core Insights - Par Petroleum (PARR) reported a quarterly loss of $0.10 per share, better than the Zacks Consensus Estimate of a loss of$ 0.12, but significantly lower than earnings of $3.15 per share a year ago, indicating an earnings surprise of 16.67% [1] - The company posted revenues of$ 2.14 billion for the quarter ended September 2024, surpassing the Zacks Consensus Estimate by 2.55%, but down from $2.58 billion in the same quarter last year [2] - Par Petroleum shares have declined approximately 57.1% year-to-date, contrasting with a 20.1% gain in the S&P 500 [3] Earnings Outlook - The earnings outlook for Par Petroleum is currently unfavorable, with a Zacks Rank of 5 (Strong Sell), suggesting expected underperformance in the near future [6] - The current consensus EPS estimate for the upcoming quarter is -$ 0.11 on revenues of $1.92 billion, and for the current fiscal year, it is$ 0.77 on revenues of $8.02 billion [7] Industry Context - The Oil and Gas - Refining and Marketing industry, to which Par Petroleum belongs, is currently ranked in the bottom 2% of over 250 Zacks industries, indicating a challenging environment [8] - Another company in the same industry, Marathon Petroleum (MPC), is expected to report a significant decline in earnings, with a projected EPS of$ 0.97, representing an 88.1% year-over-year decrease [9]