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Close of Nov 06, 2026 · end-of-day data
PARR 8-K filings in 2025
Every material Form 8-K Par Pacific Holdings filed with the SEC in 2025, read and summarized by AI: what happened, the key figures, whether it reads positive or negative for shareholders, and how big a deal it is (impact 1-5). Newest first; each brief links to its own page and to the filing on SEC.gov.
Par Pacific amended its term loan with Wells Fargo, reducing the Applicable Margin by 50 basis points, so SOFR loans now bear interest at SOFR plus 3.25%. A subsidiary joint venture, Hawaii Renewables, also entered an uncommitted letter of credit facility of up to $25 million and an amended pledge agreement, which changes the collateral securing its obligations to Wells Fargo.
Term loan margin reduced by 50 basis points under Amendment No. 3, dated December 17, 2025
SOFR loans now bear interest at SOFR plus 3.25%; base rate loans at base rate plus 2.25%
Hawaii Renewables entered an uncommitted letter of credit facility with Wells Fargo for up to $25,000,000, dated December 16, 2025
Amended and restated pledge agreement modifies the collateral securing Hawaii Renewables' obligations to Wells Fargo
Par Pacific reported third quarter 2025 net income of $262.6 million, or $5.16 per diluted share, compared with $7.5 million, or $0.13 per diluted share, in the same quarter of 2024. The results include a $195.9 million gain in Adjusted Net Income tied to EPA small refinery exemptions granted in August 2025 for the 2019-2024 compliance years, which matters to shareholders because it accounts for a large share of the quarter's profit.
Net income of $262.6 million, or $5.16 per diluted share, versus $7.5 million, or $0.13 per diluted share, in Q3 2024.
Adjusted Net Income of $302.6 million, or $5.95 per diluted share, including a $195.9 million small refinery exemption impact.
Adjusted EBITDA of $372.5 million, including a $202.6 million small refinery exemption impact, versus $51.4 million in Q3 2024.
Repurchased $16.4 million of common stock in the quarter; closed the Hawaii Renewables joint venture in October 2025 for $100 million in cash proceeds.
Par Pacific said on October 21, 2025 that the joint venture with Alohi Renewable Energy closed, forming ProjectCo to build and operate a renewable fuels facility at its Kapolei Refinery in Hawaii. Alohi, backed by Mitsubishi Corporation and ENEOS Corporation, paid $100 million in cash for a 36.5% stake, and Par Pacific keeps majority control with a 63.5% interest and three of four board seats.
Alohi contributed $100 million in cash for a 36.5% ownership and voting interest in ProjectCo; HR Holdco, a Par Pacific subsidiary, holds 63.5%.
Par Pacific's capital commitment to ProjectCo is up to $21,039,382, less qualifying construction costs incurred from July 1, 2025 to Closing.
The company guaranteed certain payment obligations of HR Holdco, including the remaining amount to complete funding of its capital commitment.
The facility is expected to be completed by the end of the year and produce about 61 million gallons per year of renewable fuels.
On October 2, 2025, Par Pacific subsidiary Hawaii Renewables entered a framework agreement and ISDA schedule with Wells Fargo for monthly prepaid commodity swaps on soybean oil and crude oil. The deal includes a pledge of commodity inventory and renewable feedstocks as collateral, and Par guarantees the subsidiary's obligations, so it adds a direct financial obligation for shareholders to track.
Framework Agreement and ISDA Schedule dated October 2, 2025, with Wells Fargo Bank, N.A.; swaps run monthly on soybean oil and crude oil, with Wells Fargo prepaying a fixed amount to Hawaii Renewables, subject to a cap
Initial term of one year, renewing automatically unless either party gives at least 90 calendar days' written notice
Hawaii Renewables pledged certain commodity inventory and renewable feedstocks to Wells Fargo, and Par Pacific guarantees its obligations under an unsecured guaranty
Parties agreed to use commercially reasonable efforts to negotiate a Letter of Credit Facility Agreement; the filing gives no amount for it
Par Pacific reported second quarter 2025 net income of $59.5 million, or $1.17 per diluted share, up from $18.6 million, or $0.32 per diluted share, a year earlier. Revenue fell to $1.89 billion from $2.02 billion, and Adjusted EBITDA rose 69% to $137.8 million, so headline results point in opposite directions. The company also repurchased $28 million of common stock and announced a Hawaii Renewables joint venture with expected cash proceeds of $100 million.
Net income was $59.5 million ($1.17 per diluted share) versus $18.6 million ($0.32) in Q2 2024.
Revenues were $1,893.4 million versus $2,017.5 million in Q2 2024.
Adjusted EBITDA was $137.8 million, a 69% improvement from $81.6 million.
The company repurchased $28 million of common stock at an average price of $17.36 per share in the quarter.
Par Pacific signed a definitive agreement to form ProjectCo, a joint venture for a renewable fuels facility co-located with its Kapolei Refinery in Hawaii. Alohi, owned by Mitsubishi and ENEOS, will hold a 36.5% stake for $100 million in cash, while Par Pacific keeps the remaining interest and runs the project; closing is expected in the second half of 2025.
Alohi Renewable Energy, owned by Mitsubishi and ENEOS, will hold 36.5% of ProjectCo for $100 million in cash
Par Pacific will commit cash contributions of up to $21,039,382, less qualifying construction costs from July 1, 2025 to closing
Facility is expected to be completed and operational by the end of 2025, producing about 61 million gallons per year
Transaction is expected to close in the second half of 2025, subject to customary conditions and regulatory approvals
Par Pacific reported a first-quarter 2025 net loss of $30.4 million, or $0.57 per diluted share, compared with a net loss of $3.8 million, or $0.06 per share, a year earlier. Adjusted EBITDA fell to $10.1 million from $94.7 million, and revenues declined to $1.745 billion from $1.981 billion, so headline results weakened sharply for shareholders even as the company repurchased $51 million of its stock.
Net loss of $30.4 million, or $0.57 per diluted share, versus a net loss of $3.8 million, or $0.06 per share, in Q1 2024
Adjusted EBITDA of $10.1 million, compared with $94.7 million in Q1 2024
Revenues of $1.745 billion, compared with $1.981 billion in Q1 2024
Repurchased $51 million of common stock, or 3.6 million shares, in Q1 2025; the Wyoming refinery had an operational incident on February 12, 2025 and returned to full operations in late April
Par Pacific reported a fourth-quarter 2024 net loss of $55.7 million, or $1.01 per diluted share, compared with net income of $289.3 million, or $4.77 per diluted share, a year earlier. For full year 2024, the company posted a net loss of $33.3 million, versus net income of $728.6 million in 2023, and Adjusted EBITDA fell to $238.7 million from $696.2 million. The company also said its Wyoming refinery has been idled since a February 12, 2025 operational incident and is expected to restart in mid-April at reduced throughput.
Q4 2024 revenues were $1.83 billion, down from $2.18 billion in Q4 2023
Full year 2024 net loss of $33.3 million, or $0.59 per diluted share, versus net income of $728.6 million in 2023
Repurchased 5 million common shares in 2024, or 9% of year-end shares outstanding
Wyoming refinery restart expected in mid-April 2025 at reduced throughput, with full operations by end of May
Briefs are written by AI from the filing text (each brief's own page names the model) and can contain mistakes — open the filing before acting on anything. Impact (1-5) and tone are the model's reading of the filing for shareholders, not a price forecast. Not investment advice.
Only material 8-Ks get a brief: results, deals, executive changes, restructuring, impairments, delisting notices, restatements, cybersecurity incidents and other disclosed events. Routine filings (vote results, exhibits only) are skipped. Every Par Pacific Holdings filing is on SEC EDGAR ↗. 8-K briefs of other companies →