Financial Performance - Par Pacific reported a net income of $369.4 million, or $7.16 per diluted share, for the year ended December 31, 2025, a significant recovery from a net loss of $(33.3) million, or $(0.59) per diluted share, for 2024 [2][9] - Adjusted net income for 2025 was $390.1 million compared to $21.2 million in 2024, with adjusted EBITDA rising to $633.5 million from $238.7 million [2][9] - For the fourth quarter of 2025, net income was $77.7 million, or $1.53 per diluted share, compared to a net loss of $(55.7) million, or $(1.01) per diluted share, in the same quarter of 2024 [3][9] Refining Segment - The refining segment generated operating income of $487.0 million for the year ended December 31, 2025, including a Small Refinery Exemption (SRE) impact of $199.5 million, compared to $17.4 million in 2024 [4][5] - Adjusted gross margin for the refining segment was $1.0 billion in 2025, up from $618.3 million in 2024 [4][5] - Fourth quarter 2025 adjusted EBITDA for the refining segment was $87.6 million, compared to an adjusted net loss of $(22.3) million in the fourth quarter of 2024 [6][7] Hawaii Operations - The Hawaii Index averaged $15.38 per barrel in the fourth quarter of 2025, significantly higher than $5.52 per barrel in the same quarter of 2024 [8][10] - Hawaii refinery's throughput was 87 Mbpd in the fourth quarter of 2025, up from 83 Mbpd in the same quarter of 2024 [8] Retail Segment - The retail segment reported operating income of $74.7 million for the year ended December 31, 2025, compared to $64.8 million in 2024 [17] - Retail segment adjusted EBITDA was $85.9 million for 2025, an increase from $76.0 million in 2024 [18] - Fuel sales volumes for the retail segment were 122.8 million gallons in 2025, compared to 121.5 million gallons in 2024, with same store fuel volumes increasing by 1.6% [18] Logistics Segment - The logistics segment generated operating income of $97.6 million for the year ended December 31, 2025, compared to $89.4 million in 2024 [21][22] - Adjusted EBITDA for the logistics segment was $126.3 million for 2025, up from $120.2 million in 2024 [22] Liquidity and Capital Management - Net cash provided by operations totaled $445.3 million for the year ended December 31, 2025, compared to $83.8 million in 2024 [24] - The company repurchased 6.5 million shares in 2025, reducing shares outstanding by 10% [9][29] - As of December 31, 2025, Par Pacific's cash balance was $164.1 million, with total liquidity of $914.6 million [28]

Group 1 - Par Pacific Holdings, Inc. will release its fourth quarter 2025 results on February 24, 2026, after the NYSE closes [1] - A conference call for investors is scheduled for February 25, 2026, at 9:00 a.m. Central Time [2] - The full text of the earnings release will be available on Par Pacific's website [1] Group 2 - Par Pacific is an energy company providing renewable and conventional fuels to the western United States [4] - The company has a refining capacity of 219,000 barrels per day across four locations [4] - Par Pacific operates an extensive energy infrastructure network, including 13 million barrels of storage [4] - The company owns 46% of Laramie Energy, LLC, which focuses on natural gas production in Western Colorado [4]

Company Overview - Par Pacific Holdings, Inc. is an energy company based in Houston, Texas, providing both renewable and conventional fuels to the western United States [2] - The company operates a combined refining capacity of 219,000 barrels per day across four locations in Hawaii, the Pacific Northwest, and the Rockies [2] - Par Pacific has an extensive energy infrastructure network, including 13 million barrels of storage and various transportation assets [2] - The company operates the Hele retail brand in Hawaii and the "nomnom" convenience store chain in the Pacific Northwest [2] - Par Pacific holds a 46% stake in Laramie Energy, LLC, a natural gas production company focused on Western Colorado [2] Financial Update - Par Pacific announced a repricing of its existing term loan credit agreement due 2030, which is expected to close around December 17, 2025 [1] - The repricing amendment will reduce the Applicable Margin under the Term Loan Facility by 50 basis points, resulting in interest rates of 2.25% for Base Rate loans and 3.25% for SOFR loans [1]

Company Overview - Par Pacific Holdings, Inc. is a growing energy company headquartered in Houston, Texas, providing both renewable and conventional fuels to the western United States [4] - The company owns and operates 219,000 barrels per day (bpd) of combined refining capacity across four locations in Hawaii, the Pacific Northwest, and the Rockies [4] - Par Pacific has an extensive energy infrastructure network, including 13 million barrels of storage and various transportation assets such as marine, rail, rack, and pipeline [4] - The company operates the Hele retail brand in Hawaii and the "nomnom" convenience store chain in the Pacific Northwest [4] - Par Pacific also owns 46% of Laramie Energy, LLC, a natural gas production company focused on Western Colorado [4] Upcoming Financial Events - Par Pacific will release its first quarter 2025 results after the New York Stock Exchange closes on May 6, 2025 [1] - A conference call for investors is scheduled for May 7, 2025, at 9:00 a.m. Central Time (10:00 a.m. Eastern) [2] - The live audio webcast and related presentation materials will be available on Par Pacific's website [2] Replay Information - A replay of the conference call will be available shortly after the call, accessible by dialing the provided toll-free numbers [3] - The passcode for the replay is 2659885, and it will be available until May 21, 2025 [3]