Record Operational Throughput in Hawaii
Hawaii achieved a record operational throughput of 88,000 barrels per day, highlighting the team's successful efforts in deconstraining operations over the last 18 months.
Strong Financial Performance
Second quarter adjusted EBITDA was $138 million, with adjusted net income of $1.54 per share. This performance was driven by strong operations and improving market conditions.
Retail Business Growth
Quarterly same-store fuel and in-store revenue increased by 1.8% and 3%, respectively, compared to the second quarter of 2024.
Strategic Joint Venture
Par Pacific announced a joint venture with Mitsubishi and ENEOS Corporation, with a $100 million investment for a 36.5% equity interest, aimed at strengthening renewable fuels capabilities.
Share Repurchase Program
An additional $28 million of stock was repurchased, bringing the year-to-date share count down by nearly 8%.
Strong Cash Position
Ending liquidity was nearly $650 million, providing flexibility for strategic objectives and share repurchases.