Par Pacific Holdings (PARR) FY2015 results: revenue $2.1 billion, down 33.5% on the year
Par Pacific Holdings, Inc. (PARR) reported revenue of $2.1 billion for fiscal 2015, the year ended 31 December 2015, down 33.5% on the year before. Net income was -$40 million, and diluted earnings per share $-1.06. The figures are the company's own, from the 10-K it filed with the SEC on 3 March 2016.
Revenue
$2.1 billion
-33.5% on the year
FY2009FY2015
Operating margin
3.0%
-1.2% a year earlier
FY2009FY2015
Net income
-$40 million
FY2009FY2015
Diluted EPS
-$1.06
FY2009FY2015
this yearthe year beforeHover a bar for its figure.
The year in brief
Income statement (profit and loss)
$ million
FY2015
FY2014
FY2013
On the year
Last 8 years
Revenue
2,066
3,108
886
-33.5%
Cost of revenue
1,787
2,937
857
-39.2%
Gross profit
279
171
28.9
+63.6%
Gross margin
13.5%
5.5%
3.3%
Operating income
61.5
-37.5
-47.4
Operating margin
3.0%
-1.2%
-5.4%
Interest expense
20.2
18.0
19.4
+12.0%
Pre-tax income
-56.7
-47.5
-79.2
Income tax
-16.8
-0.5
0.0
Net income
-39.9
-47.0
-79.2
Net margin
-1.9%
-1.5%
-8.9%
Diluted EPS
-$1.06
-$1.44
-$4.01
$ million except per share. Read moreFree cash flow is operating cash flow less capital expenditure; the effective tax rate is income tax over pre-tax income; margins are the line over revenue. Gross profit is revenue less cost of revenue, and operating income is revenue less the company's own total costs, where the statement does not print those lines. Those four are arithmetic on the filed numbers; everything else is as filed. Money is in $ million as the company files it, or in $ billion by the switch above the tables; per share figures and share counts are as they are.
Cash flow
$ million
FY2015
FY2014
FY2013
On the year
Last 8 years
Operating cash flow
132
-54.6
-35.7
Capital expenditure
22.3
14.3
7.8
+56.3%
Free cash flow
110
-68.9
-43.4
Free cash flow margin
5.3%
-2.2%
-4.9%
Cash from investing
-114
-24.3
-564
Cash from financing
60.4
130
632
-53.5%
Depreciation and amortisation
19.9
14.9
6.0
+33.7%
Share-based compensation
5.2
4.0
1.2
+30.1%
Buybacks
1.0
0.0
0.0
Diluted shares, weighted
38m
33m
20m
+15.1%
Balance sheet
$ million
FY2015
FY2014
FY2013
On the year
Last 8 years
Shareholders' equity
341
292
228
+16.6%
Debt
165
131
109
+26.3%
Other liabilities
386
312
476
+23.8%
Total liabilities and equity
892
735
813
+21.4%
Fixed assets
195
113
109
+72.8%
Goodwill
41.3
20.8
20.6
+98.8%
Intangible assets
34.4
7.5
11.2
+357.9%
Cash and equivalents
168
89.2
38.1
+88.1%
Receivables
68.3
112
117
-39.0%
Inventory
219
244
381
-10.0%
Other assets
166
149
137
+11.3%
Total assets
892
735
813
+21.4%
10-K for the year ended 31 December 2015, filed 3 March 2016: the filing.