Par Pacific Delivers $369.4M 2025 Net Income and 6.5M-Share Buyback
Par Pacific reported net income of $77.7 million in Q4 and $369.4 million in 2025, reversing a $33.3 million loss in 2024, with adjusted EBITDA rising to $113.1 million in Q4 and $633.5 million annually. The company repurchased 6.5 million shares at an average $19, cutting outstanding shares by 10%.
1. Full-Year Financial Results
Par Pacific recorded net income attributable to stockholders of $369.4 million, or $7.16 per diluted share, for 2025 compared with a $33.3 million net loss in 2024. Adjusted EBITDA rose to $633.5 million from $238.7 million in the prior year.
2. Fourth Quarter Performance
In Q4, net income attributable was $77.7 million, or $1.53 per diluted share, reversing a $55.7 million loss in Q4 2024. Adjusted EBITDA jumped to $113.1 million, up from $10.9 million a year earlier.
3. Share Repurchase Program
The company repurchased 6.5 million shares in 2025 at an average price of approximately $19 per share, reducing shares outstanding by 10% and supporting earnings per share growth.
4. Strategic Initiatives
Operational milestones included completing the Montana turnaround and advancing the Hawaii renewable fuels project toward startup. Refining segment adjusted gross margin increased to $1.0 billion for the year, reflecting SRE impacts of $202.6 million.