0000821483-26-000010
SEC filingPar Pacific repurchased $28M in shares, has $109M remaining buyback authorization, and refining segment operating income improved to $56.3M.
As of March 31, 2026, total inventory stood at $1.36B, including $241.5M under inventory financing agreements. Total debt, net of unamortized discounts and deferred financing costs, was $947.6M, consisting primarily of $321M drawn on the ABL Credit Facility and $632M on the Term Loan Credit Agreement. The company had $172.2M in cash and cash equivalents (not in notes, but from balance sheet). Deferred revenue was $1.8M.
The notes disclose no material purchase commitments. Environmental liabilities include $15.6M accrued for Wyoming refinery remediation and $11.6M for wastewater impoundment modifications. The company is subject to various tax and legal contingencies, but no significant purchase obligations are reported.
During Q1 2026, Par Pacific repurchased 0.7 million shares for $28.0M under its $250M share repurchase program, leaving $109.2M remaining authorization. No dividends were declared. Capital expenditures totaled $43.1M, allocated as: Refining $32.0M, Logistics $6.0M, Retail $3.2M, and Corporate $1.9M. Debt increased net $144.7M from year-end, primarily through ABL draws.
Refining segment revenue was $1.77B with operating income of $56.3M, a significant improvement from a $24.7M loss in the prior year. Logistics generated $76.8M revenue and $24.5M operating income. Retail contributed $133.1M revenue and $13.0M operating income. Corporate and Other reported an operating loss of $28.5M, primarily from G&A. No geographic mix details are provided in the notes.