Par Pacific Holdings (PARR) FY2019 results: revenue $5.4 billion, up 58.4% on the year
Par Pacific Holdings, Inc. (PARR) reported revenue of $5.4 billion for fiscal 2019, the year ended 31 December 2019, up 58.4% on the year before. Net income was $41 million, up 3.5%, and diluted earnings per share $0.80. The figures are the company's own, from the 10-K it filed with the SEC on 2 March 2020.
Revenue
$5.4 billion
+58.4% on the year
FY2011FY2019
Operating margin
2.7%
2.4% a year earlier
FY2011FY2019
Net income
$41 million
+3.5% on the year
FY2011FY2019
Diluted EPS
$0.80
-5.9% on the year
FY2011FY2019
this yearthe year beforeHover a bar for its figure.
The year in brief
Income statement (profit and loss)
$ million
FY2019
FY2018
FY2017
On the year
Last 8 years
Revenue
5,402
3,411
2,443
+58.4%
Cost of revenue
4,804
3,003
2,055
+60.0%
Gross profit
598
408
388
+46.7%
Gross margin
11.1%
12.0%
15.9%
Operating income
148
81.9
94.0
+80.6%
Operating margin
2.7%
2.4%
3.8%
Interest expense
74.8
39.8
31.6
+88.2%
Pre-tax income
-28.9
39.8
71.3
Income tax
-69.7
0.3
-1.3
Effective tax rate
n/a
0.8%
-1.8%
Net income
40.8
39.4
72.6
+3.5%
Net margin
0.8%
1.2%
3.0%
Diluted EPS
$0.80
$0.85
$1.57
-5.9%
$ 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
FY2019
FY2018
FY2017
On the year
Last 8 years
Operating cash flow
106
90.6
106
+16.6%
Capital expenditure
83.9
48.4
31.7
+73.2%
Free cash flow
21.7
42.2
74.8
-48.5%
Free cash flow margin
0.4%
1.2%
3.1%
Cash from investing
-353
-176
-31.7
Cash from financing
300
41.9
-4.8
+615.8%
Depreciation and amortisation
86.1
52.6
46.0
+63.6%
Share-based compensation
6.4
6.2
7.2
+3.9%
Diluted shares, weighted
50m
46m
46m
+10.3%
Balance sheet
$ million
FY2019
FY2018
FY2017
On the year
Last 8 years
Shareholders' equity
648
512
448
+26.5%
Debt
612
393
385
+55.9%
Operating lease liabilities
341
n/a
n/a
Finance lease liabilities
6.2
n/a
n/a
Other liabilities
1,093
556
515
+96.7%
Total liabilities and equity
2,701
1,461
1,347
+84.9%
Fixed assets
962
538
450
+78.7%
Goodwill
196
153
107
+27.7%
Intangible assets
21.5
23.9
26.6
-10.0%
Cash and equivalents
126
75.1
118
+67.8%
Receivables
229
160
122
+42.6%
Inventory
616
322
345
+91.2%
Other assets
551
188
178
+193.4%
Total assets
2,701
1,461
1,347
+84.9%
10-K for the year ended 31 December 2019, filed 2 March 2020: the filing.