Par Pacific posts strong Q3 2026 earnings, renewables profit and plans Laramie Energy divestiture
Par Pacific Holdings reported third‑quarter 2026 results that beat expectations, with adjusted earnings of $10.70 per share and adjusted EBITDA of $646 million. Refining margins reached a record $38.45 per barrel and the newly created Renewables segment posted its first profitable quarter. The company announced it will sell its 46 % stake in Laramie Energy for about $120 million, with the transaction slated to close in the fourth quarter.
Why it matters
The earnings beat and record margins suggest higher cash generation, supporting the company’s plan to repurchase shares and fund growth projects (the earnings release says). The pending Laramie Energy sale will add roughly $120 million of cash in Q4, improving liquidity and potentially allowing further capital allocation.
Key facts
- 1Adjusted earnings per share were $10.70, beating analyst estimates by $4.17. investing.com
- 2Revenue for the quarter was $3.05 billion, up from $2.01 billion a year earlier. tradingview.com
- 3Adjusted EBITDA totaled $646.0 million, including a $222.0 million benefit from EPA refinery exemptions. tradingview.com
- 4Refining margins averaged $38.45 per barrel, a record for the quarter. finance.yahoo.com
- 5The Renewables segment generated $5.1 million of adjusted EBITDA and recorded its first profitable quarter. investing.com
- 6Par Pacific expects to receive approximately $120 million in cash from the sale of its 46 % interest in Laramie Energy, with the deal expected to close in the fourth quarter. investing.com
Summary written by AlphAI AI Desk from 7 of 7 sources. Not investment advice. Figures are as stated by the linked sources.