Par Pacific Holdings (PARR) FY2020 results: revenue $3.1 billion, down 42.1% on the year
Par Pacific Holdings, Inc. (PARR) reported revenue of $3.1 billion for fiscal 2020, the year ended 31 December 2020, down 42.1% on the year before. Net income was -$409 million, and diluted earnings per share $-7.68. The figures are the company's own, from the 10-K it filed with the SEC on 8 March 2021.
Revenue
$3.1 billion
-42.1% on the year
FY2013FY2020
Operating margin
-10.2%
2.7% a year earlier
FY2013FY2020
Net income
-$409 million
FY2013FY2020
Diluted EPS
-$7.68
FY2013FY2020
this yearthe year beforeHover a bar for its figure.
The year in brief
Income statement (profit and loss)
$ million
FY2020
FY2019
FY2018
On the year
Last 8 years
Revenue
3,125
5,402
3,411
-42.1%
Cost of revenue
2,948
4,804
3,003
-38.6%
Gross profit
177
598
408
-70.4%
Gross margin
5.7%
11.1%
12.0%
Operating income
-318
148
81.9
Operating margin
-10.2%
2.7%
2.4%
Interest expense
70.2
74.8
39.8
-6.2%
Pre-tax income
-430
-28.9
39.8
Income tax
-20.7
-69.7
0.3
Effective tax rate
n/a
n/a
0.8%
Net income
-409
40.8
39.4
Net margin
-13.1%
0.8%
1.2%
Diluted EPS
-$7.68
$0.80
$0.85
$ 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
FY2020
FY2019
FY2018
On the year
Last 8 years
Operating cash flow
-37.2
106
90.6
Capital expenditure
63.5
83.9
48.4
-24.3%
Free cash flow
-101
21.7
42.2
Free cash flow margin
-3.2%
0.4%
1.2%
Cash from investing
-63.5
-353
-176
Cash from financing
42.6
300
41.9
-85.8%
Depreciation and amortisation
90.0
86.1
52.6
+4.5%
Share-based compensation
7.3
6.4
6.2
+14.1%
Buybacks
1.2
n/a
n/a
Diluted shares, weighted
53m
50m
46m
+5.6%
Balance sheet
$ million
FY2020
FY2019
FY2018
On the year
Last 8 years
Shareholders' equity
246
648
512
-62.0%
Debt
709
612
393
+15.8%
Operating lease liabilities
304
341
n/a
-10.7%
Finance lease liabilities
7.9
6.2
n/a
+27.3%
Other liabilities
867
1,093
556
-20.7%
Total liabilities and equity
2,134
2,701
1,461
-21.0%
Fixed assets
n/a
962
538
Goodwill
128
196
153
-34.7%
Intangible assets
18.9
21.5
23.9
-12.3%
Cash and equivalents
68.3
126
75.1
-45.8%
Receivables
112
229
160
-51.2%
Inventory
430
616
322
-30.2%
Other assets
1,377
551
188
+150.1%
Total assets
2,134
2,701
1,461
-21.0%
10-K for the year ended 31 December 2020, filed 8 March 2021: the filing.