Par Pacific Holdings reported a strong rebound in 2025, returning to profitability after losses in 2024. For the fourth quarter ending Dec. 31, the company posted net income of $77.7 million, compared with a loss of $55.7 million in the same period a year earlier. Full-year net income was $369.4 million, versus a loss of $33.3 million in 2024.
Adjusted net income, which factors out one-time events, also showed improvement. Fourth-quarter adjusted net income was $59.5 million, up from an adjusted net loss of $43.4 million in fourth-quarter 2024, while full-year adjusted net income rose to $390.1 million from $21.2 million a year earlier. Adjusted EBITDA for the quarter and full year climbed to $113.1 million and $633.5 million, respectively, up from $10.9 million and $238.7 million a year ago.
Houston-based Par Pacific’s retail segment contributed to the gains with steady same-store performance. Fourth-quarter same-store fuel volumes rose 2.2%, with inside sales revenue up 0.2% from a year earlier. For the full year, same-store fuel volumes and inside sales revenue increased 1.6% and 1.5%, respectively. Retail operating income for the quarter was $18.9 million, roughly flat with $19.5 million in fourth-quarter 2024, while full-year operating income increased to $74.7 million from $64.8 million. Adjusted EBITDA for the retail segment totaled $22.0 million for the quarter and $85.9 million for the year.
“We made meaningful progress on our strategic initiatives and delivered strong 2025 financial results,” said Will Monteleone, president and CEO.
- Par Pacific Holdings Inc. is No. 103 on CSP’s 2025 Top 202 ranking of U.S. c-store chains by store count.
Par Pacific operates convenience stores in the Pacific Northwest and the Hawaiian Islands. In Hawaii, its retail brand Hele provides fuel, food and other convenience goods. In the Pacific Northwest, its Nomnom brand offers fuel, convenience items and local foodservice favorites.
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