Par Pacific Holdings (PARR) FY2023 results: revenue $8.2 billion, up 12.4% on the year
Par Pacific Holdings, Inc. (PARR) reported revenue of $8.2 billion for fiscal 2023, the year ended 31 December 2023, up 12.4% on the year before. Net income was $729 million, up 100.1%, and diluted earnings per share $11.94. The figures are the company's own, from the 10-K it filed with the SEC on 29 February 2024.
Revenue
$8.2 billion
+12.4% on the year
FY2016FY2023
Operating margin
8.3%
6.0% a year earlier
FY2016FY2023
Net income
$729 million
+100.1% on the year
FY2016FY2023
Diluted EPS
$11.94
+96.4% on the year
FY2016FY2023
this yearthe year beforeHover a bar for its figure.
$ 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
FY2023
FY2022
FY2021
On the year
Last 8 years
Operating cash flow
579
453
-27.6
+28.0%
Capital expenditure
82.3
53.0
29.5
+55.2%
Free cash flow
497
400
-57.2
+24.4%
Free cash flow margin
6.0%
5.5%
-1.2%
Cash from investing
-659
-87.3
74.6
Cash from financing
-136
13.4
-1.1
Depreciation and amortisation
120
99.8
94.2
+20.1%
Share-based compensation
11.6
9.4
8.2
+24.4%
Buybacks
67.8
7.8
2.1
+765.7%
Diluted shares, weighted
61m
60m
58m
+1.9%
Balance sheet
$ million
FY2023
FY2022
FY2021
On the year
Last 8 years
Shareholders' equity
1,335
645
266
+107.2%
Debt
651
506
565
+28.7%
Operating lease liabilities
283
293
335
-3.5%
Finance lease liabilities
12.4
6.3
7.7
+97.1%
Other liabilities
1,583
1,832
1,397
-13.6%
Total liabilities and equity
3,864
3,281
2,570
+17.8%
Goodwill
129
129
127
-0.0%
Intangible assets
10.9
13.6
16.2
-19.6%
Cash and equivalents
279
491
112
-43.1%
Receivables
367
253
195
+45.2%
Inventory
1,160
1,042
790
+11.4%
Other assets
1,917
1,352
1,329
+41.8%
Total assets
3,864
3,281
2,570
+17.8%
10-K for the year ended 31 December 2023, filed 29 February 2024: the filing.