The following is a summary of the Par Pacific Holdings, Inc. (PARR) Q3 2024 Earnings Call Transcript:

Financial Performance:

• Q3 2024 adjusted EBITDA of $51 million.

• Adjusted net loss was $0.10 per share.

• Refining segment adjusted EBITDA was $20 million. Logistics segment reported adjusted EBITDA of $33 million and Retail adjusted EBITDA of $21 million.

• The company repurchased $22 million of common stock, reduced ABL borrowings by $14 million. Gross term debt as of end of the period was $546 million with total liquidity at $633 million.

Business Progress:

• Record quarterly refining throughput was achieved with significant improvements in operational reliability especially in Billings and Hawaii.

• Broke ground on the SAF Project in Hawaii, targeted for startup in second half of 2025.

• Targeting a reduction of 2025 fixed operating expenses by $30 million to $40 million.

Opportunities:

• Investment in Billings reliability and focus on cost competitiveness.

• Development of the Hawaii SAF project to enhance renewable fuels capabilities.

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