Par Pacific Holdings (PARR) Earnings: Q3 2026 Results

The quarter ended September 30, 2026 and Par Pacific published the results on November 3, 2026. Revenue and diluted EPS are shown against Q3 2025, the same quarter a year earlier, which takes seasonal swings out of the comparison. Par Pacific reports EPS two ways: GAAP, under the accounting rules every US filer follows, and Adjusted Net Income per diluted share, which leaves out items the company considers outside its operating results. The release reconciles the two, and when they diverge, the reconciliation says why.

• Par Pacific added a Renewables segment in 2026, when its Hawaii renewable fuels facility began commercial operations in April. It recast earlier 2026 quarters to the new segment presentation but did not recast 2025, when an immaterial amount of Renewables costs sat in the Refining segment.
• Adjusted results for Q3 2026 include a small refinery exemption (SRE) impact of $187.2 million in Adjusted Net Income and $222.0 million in Adjusted EBITDA, after the EPA granted exemptions for the 2025 compliance year in August 2026.

Source: Par Pacific Q3 2026 results, November 3, 2026. Also in the Form 10-Q for the quarter ended September 30, 2026. Figures as reported; checked against the release on November 10, 2026.

How Par Pacific splits revenue in its own release, under its own labels, for Q3 2026 against Q3 2025. Indented lines are parts of the line above them.

• Par Pacific's Refining revenue was $3.0 billion in Q3 2026, up 53% from $1.9 billion in Q3 2025, 98% of total revenue.
• Par Pacific's Logistics revenue was $83.9 million in Q3 2026, up 4% from $80.3 million in Q3 2025, 3% of total revenue.
• Par Pacific's Retail revenue was $192 million in Q3 2026, up 27% from $151 million in Q3 2025, 6% of total revenue.
• Par Pacific's Renewables revenue was $49.2 million in Q3 2026, 2% of total revenue.

Segment lines are the figures writers cite most often, because they show where the growth in a quarter came from. Companies redraw their segments from time to time and restate the prior year to match, so a year-ago figure here can differ from the one printed a year ago. When that has happened, the note above says so.

Revenue and diluted EPS for the last 5 quarters. Each date links to that quarter's release.

GAAP revenues and diluted EPS, each as first reported in that quarter's release.

We do not hold a confirmed date for Par Pacific's next report. Companies post the date on their investor relations site a few weeks ahead, usually with the time of the conference call.

Each quarter keeps its own page with the figures as reported, so a link to one stays pointed at the same numbers after the next report.

• Q3 2026 (this page), reported Nov 3, 2026

Par Pacific's revenue is almost all refined fuel sold by its Refining segment. In the third quarter of 2026, Refining segment revenues were $2,976.7 million of consolidated revenues of $3,052.4 million, made up of gasoline ($979.5 million), distillates, mainly diesel and jet fuel ($1,301.8 million), and other refined products such as fuel oil, vacuum gas oil and asphalt ($600.0 million). Retail added $191.8 million, Logistics $83.8 million and the new Renewables segment $49.2 million, with $249.0 million removed in corporate and intersegment eliminations. (Par Pacific Form 10-Q, Q3 2026, Nov 4, 2026)

Par Pacific put the $1.1 billion rise in revenues, from $2.0 billion a year earlier, mainly down to $1.0 billion of higher refining revenues driven by higher average product crack spreads and crude oil prices. Its Combined Index rose 161%, average Brent crude rose 34% and average WTI rose 32%. Retail revenues rose $40.5 million on a 26% increase in prices and a 6% increase in fuel sales volumes. (Par Pacific Form 10-Q, Q3 2026, Nov 4, 2026)

Refining throughput fell to 174 thousand barrels per day (Mbpd) from 198 Mbpd because the Hawaii refinery ran at reduced rates during a turnaround. Hawaii throughput was 57 Mbpd against 82 Mbpd a year earlier, and its production costs rose to $8.45 per throughput barrel from $4.66. The Hawaii Index averaged $38.31 per barrel against $10.27, and Hawaii's Adjusted Gross Margin of $20.69 per barrel included a net price lag impact of about $(52.2) million, because refined product prices were higher in September than in June. (Par Pacific Q3 2026 earnings release, Nov 3, 2026)

Par Pacific owns four refineries with 219 Mbpd of crude oil throughput capacity, in Kapolei, Hawaii; Newcastle, Wyoming; Tacoma, Washington; and Billings, Montana. They serve Hawaii and markets from Washington state to the Dakotas and Wyoming, and Retail runs the Hele and nomnom brands in Hawaii, Washington and Idaho. One Refining customer accounted for 12% of consolidated revenue in 2025. (Par Pacific Form 10-K, 2025, Feb 25, 2026)

Par Pacific's Renewable Fuels Facility, a joint venture co-located with the Hawaii refinery, began commercial operations in April 2026 and is designed to produce about 61 million gallons a year of renewable diesel, sustainable aviation fuel, renewable naphtha and low-carbon liquefied petroleum gases. In the third quarter it processed 78 thousand gallons per day, and the Renewables segment reported operating income of $8.7 million, which the CEO called its first profitable quarter. (Par Pacific Form 10-Q, Q3 2026, Nov 4, 2026; Par Pacific Q3 2026 earnings release, Nov 3, 2026)

Par Pacific's GAAP diluted EPS was $7.11 in the third quarter of 2026, against $5.16 a year earlier, on net income attributable to stockholders of $353.3 million. Diluted Adjusted Net Income per share was $10.70, against $5.95. The largest items added back to reach the adjusted figure were unrealized losses on derivatives of $91.0 million, environmental obligation mark-to-market adjustments of $51.4 million and changes in valuation allowance and other deferred tax items of $44.7 million, partly offset by a $22.2 million inventory valuation adjustment. (Par Pacific Q3 2026 earnings release, Nov 3, 2026)

Par Pacific's adjusted results include a one-off from small refinery exemptions (SREs). In August 2026 the EPA granted its mainland refineries a combination of full (100%) and partial (50%) exemptions from the Renewable Fuel Standard for the 2025 compliance year. The SRE impact was $187.2 million in Adjusted Net Income and $222.0 million in Adjusted EBITDA, and the Montana refinery's share alone was $167.2 million, or $31.12 per barrel. (Par Pacific Q3 2026 earnings release, Nov 3, 2026)

Par Pacific's diluted weighted-average share count fell to 49,669 thousand from 50,897 thousand. It repurchased 0.1 million shares for $10.0 million in the quarter and had $238.3 million of authorization left at September 30, 2026. Income tax expense was $110.0 million on income before income taxes of $464.9 million. (Par Pacific Q3 2026 earnings release, Nov 3, 2026; Par Pacific Form 10-Q, Q3 2026, Nov 4, 2026)

Diluted EPS divides net income by the weighted average number of shares outstanding in the quarter, plus the shares that options and other equity awards could add. Buybacks shrink that count and lift EPS for the same profit; share issuance and stock awards enlarge it.

Par Pacific's third-quarter release gives no outlook for revenue, earnings or refinery throughput. Its forward statements cover two cash items. It expects to receive about $120 million in cash by year end from the sale of Laramie Energy's oil and gas assets, out of about $148 million for its 46% interest, of which about $28 million is payable on the fifth anniversary of closing, plus eligibility for up to a $30 million earn-out. It also expects to monetize its excess RIN position by year end 2026. (Par Pacific Q3 2026 earnings release, Nov 3, 2026)

A consensus figure is the average of the models published by the analysts who cover Par Pacific, collected by a data provider and revised up to the day of the report. A quarter that lands above it says how expectations were set as much as how the business did, and the share price on the day also reflects the guidance and the lines no consensus covers.

The consensus figures on this page are Yahoo Finance's, as pulled on the date shown. Each comes with the number of analysts behind it; the smaller that number, the more one revised estimate can move the average.

The figures below are the ones Par Pacific's own release and filings put weight on for Q3 2026, with the latest reported value for each.

What the quarter means for a holding is a separate question from what it reported. The case for and against owning PARR is on is PARR a buy or a sell?, what analysts expect next is on the PARR forecast, and what the company does is on the Par Pacific Holdings (PARR) stock page.

Every number on this page can be traced to a document Par Pacific published. Checking one takes a couple of minutes, and it is worth doing before you quote a figure anywhere.

• The results release is the document linked in the source line above. Companies publish it on their investor relations site at the moment results go out, and it carries the headline tables: revenue, operating income, net income and EPS for the quarter and the year-ago quarter.
• The same release is filed with the SEC as Exhibit 99.1 to a Form 8-K under Item 2.02, usually on the day of the report. The SEC copy does not change after the fact, which makes it the safer thing to link when you cite a number.
• The quarterly report (Form 10-Q) follows within a few weeks and carries the full financial statements, the segment note and management's discussion of what changed. The fourth quarter is covered by the annual report (Form 10-K) instead.
• Restated comparisons are flagged in the notes on this page. When a company redraws its segments or changes how it adjusts EPS, it restates the year-ago column, so the year-ago figure in a new release can differ from the one printed a year ago. This page always uses the comparison in the newer release, because that is the like-for-like one.

A walk-through of every line in a release, with what each one tells you, is in how to read an earnings report.