Par Petroleum Q4 Revenue Tops by 5.9% as Throughput Hits 190.9 MMbbl
Par Petroleum reported Q4 revenue of $1.81 billion, beating estimates by 5.9% but down 1% year-over-year, while EPS of $1.17 missed consensus by 2.9% despite improving from –$0.79 a year ago. Total refining throughput reached 190.9 MMbbl versus analysts’ 189.1 MMbbl estimate, led by gains in Hawaii and Washington.
1. Quarterly Financial Results
Par Petroleum generated revenue of $1.81 billion in Q4, down 1% year-over-year, surpassing consensus by 5.9%. EPS reached $1.17, missing estimates by 2.9% but reversing a loss of $0.79 in the prior year.
2. Throughput Performance by Refinery
Total refining feedstocks throughput rose to 190.9 MMbbl, led by Hawaii’s 87.1 MMbbl/d (vs 85.96 est) and Washington’s 37.0 MMbbl/d (vs 36.08 est), while Wyoming output fell to 14.4 MMbbl/d below the 15.53 MMbbl/d forecast.
3. Margin and Cost Metrics
Adjusted gross margin at Washington hit $8.32 per barrel, outpacing the $6.39 estimate, as Hawaii recorded production costs of $4.15 per barrel versus $4.70 expected; however, Wyoming costs climbed to $13.27 against a $10.25 consensus.
4. Stock Performance and Outlook
Shares have climbed 22.5% over the past month, outperforming the S&P 500’s 0.6% gain, while the company holds a Hold rating, suggesting a cautious near-term outlook despite operational strength.