Par Pacific Holdings (PARR) FY2018 results: revenue $3.4 billion, up 39.6% on the year
Par Pacific Holdings, Inc. (PARR) reported revenue of $3.4 billion for fiscal 2018, the year ended 31 December 2018, up 39.6% on the year before. Net income was $39 million, down 45.7%, and diluted earnings per share $0.85. The figures are the company's own, from the 10-K it filed with the SEC on 2 March 2020.
Revenue
$3.4 billion
+39.6% on the year
FY2010FY2018
Operating margin
2.4%
3.8% a year earlier
FY2010FY2018
Net income
$39 million
-45.7% on the year
FY2010FY2018
Diluted EPS
$0.85
-45.9% on the year
FY2010FY2018
this yearthe year beforeHover a bar for its figure.
The year in brief
Income statement (profit and loss)
$ million
FY2018
FY2017
FY2016
On the year
Last 8 years
Revenue
3,411
2,443
1,865
+39.6%
Cost of revenue
3,003
2,055
1,636
+46.2%
Gross profit
408
388
229
+4.9%
Gross margin
12.0%
15.9%
12.3%
Operating income
81.9
94.0
-19.6
-12.8%
Operating margin
2.4%
3.8%
-1.1%
Interest expense
39.8
31.6
28.5
+25.7%
Pre-tax income
39.8
71.3
-53.7
-44.2%
Income tax
0.3
-1.3
-7.9
Effective tax rate
0.8%
-1.8%
n/a
Net income
39.4
72.6
-45.8
-45.7%
Net margin
1.2%
3.0%
-2.5%
Diluted EPS
$0.85
$1.57
-$1.08
-45.9%
$ 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
FY2018
FY2017
FY2016
On the year
Last 8 years
Operating cash flow
90.6
106
-23.4
-14.9%
Capital expenditure
48.4
31.7
24.8
+52.8%
Free cash flow
42.2
74.8
-48.2
-43.6%
Free cash flow margin
1.2%
3.1%
-2.6%
Cash from investing
-176
-31.7
-286
Cash from financing
41.9
-4.8
190
Depreciation and amortisation
52.6
46.0
31.6
+14.5%
Share-based compensation
6.2
7.2
6.6
-14.0%
Diluted shares, weighted
46m
46m
42m
+0.4%
Balance sheet
$ million
FY2018
FY2017
FY2016
On the year
Last 8 years
Shareholders' equity
512
448
369
+14.4%
Debt
393
385
370
+2.0%
Other liabilities
556
515
406
+7.9%
Total liabilities and equity
1,461
1,347
1,145
+8.4%
Fixed assets
538
450
451
+19.6%
Goodwill
153
107
106
+43.1%
Intangible assets
23.9
26.6
29.9
-10.0%
Cash and equivalents
75.1
118
47.8
-36.6%
Receivables
160
122
102
+31.6%
Inventory
322
345
198
-6.7%
Other assets
188
178
210
+5.4%
Total assets
1,461
1,347
1,145
+8.4%
10-K for the year ended 31 December 2018, filed 2 March 2020: the filing.