PAR Pacific Holdings, Inc. income statement
In fiscal 2025, PAR Pacific Holdings, Inc. reported revenue of $7.46bn, down 6.4% on the year before, operating income of $539m (a 7.2% margin) and net income of $369m, or $7.16 per diluted share. Every line below comes from the company's 10-K and 10-Q filings; column headings link to the filing.
Income statement
| Fiscal year | 2009Dec 2009 | 2010Dec 2010 | 2011Dec 2011 | 2013Dec 2013 | 2014Dec 2014 | 2015Dec 2015 | 2016Dec 2016 | 2017Dec 2017 | 2018Dec 2018 | 2019Dec 2019 | 2020Dec 2020 | 2021Dec 2021 | 2022Dec 2022 | 2023Dec 2023 | 2024Dec 2024 | 2025Dec 2025 | LTMJun 2026 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | 116 | 61 | 64 | 886 | 3,108 | 2,066 | 1,865 | 2,443 | 3,411 | 5,402 | 3,125 | 4,710 | 7,322 | 8,232 | 7,974 | 7,465 | 8,619 |
| Cost of revenue | — | — | — | 857 | 2,937 | 1,787 | 1,636 | — | — | — | — | — | — | — | — | — | — |
| Gross profit | — | — | — | 29 | 171 | 279 | 229 | — | — | — | — | — | — | — | — | — | — |
| General and administrative | 37 | 35 | 28 | 21 | 34 | 44 | 42 | 46 | 47 | 46 | 41 | 48 | 62 | 91 | 109 | 98 | 103 |
| Operating income | −30 | −94 | −453 | −47 | −38 | 62 | −20 | 94 | 82 | 148 | −318 | −8 | 438 | 680 | 48 | 539 | 1,158 |
| Interest expense | 44 | 30 | 32 | 19 | 18 | 20 | 29 | 32 | 40 | 75 | 70 | 66 | 68 | 72 | 83 | 82 | 69 |
| Net interest income | — | — | — | −13 | −18 | −20 | — | — | — | — | — | — | — | — | — | — | — |
| Income before tax | −117 | −104 | −488 | −79 | −47 | −57 | −54 | 71 | 40 | −29 | −430 | −80 | 365 | 613 | −39 | 478 | 1,104 |
| Income tax | 0 | 1 | −4 | 0 | −0 | −17 | −8 | −1 | 0 | −70 | −21 | 1 | 1 | −115 | −6 | 111 | 257 |
| Net income | −329 | −182 | −470 | −79 | −47 | −40 | −46 | 73 | 39 | 41 | −409 | −81 | 364 | 729 | −33 | 369 | 857 |
| Diluted EPS | −$15.58 | −$6.63 | −$16.30 | −$4.01 | −$1.44 | −$1.06 | −$1.08 | $1.57 | $0.85 | $0.80 | −$7.68 | −$1.40 | $6.08 | $11.94 | −$0.59 | $7.16 | $17.07 |
| Diluted shares (average) | — | — | — | 20m | 33m | 38m | 42m | 46m | 46m | 50m | 53m | 58m | 60m | 61m | 57m | 52m | 50m |
| EBITDA | 27 | −47 | −414 | −41 | −23 | 81 | 12 | 140 | 135 | 234 | −228 | 87 | 538 | 800 | 179 | 683 | 1,302 |
| Quarter | 2024 Q3Sept 2024 | 2024 Q4Dec 2024 | 2025 Q1Mar 2025 | 2025 Q2Jun 2025 | 2025 Q3Sept 2025 | 2025 Q4Dec 2025 | 2026 Q1Mar 2026 | 2026 Q2Jun 2026 |
|---|---|---|---|---|---|---|---|---|
| Revenue | 2,144 | 1,832 | 1,745 | 1,893 | 2,013 | 1,813 | 1,824 | 2,969 |
| General and administrative | 22 | 22 | 24 | 24 | 24 | 26 | 25 | 28 |
| Operating income | 36 | −47 | −16 | 97 | 359 | 99 | 65 | 635 |
| Interest expense | 23 | 21 | 22 | 22 | 21 | 17 | 16 | 14 |
| Income before tax | 14 | −72 | −37 | 76 | 345 | 93 | 58 | 607 |
| Income tax | 6 | −16 | −7 | 17 | 83 | 18 | 12 | 144 |
| Net income | 7 | −56 | −30 | 59 | 263 | 78 | 54 | 462 |
| Diluted EPS | $0.13 | −$0.98 | −$0.57 | $1.17 | $5.16 | $1.54 | $1.10 | $9.35 |
| EBITDA | 68 | −12 | 21 | 131 | 395 | 136 | 100 | 671 |
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