Par Pacific Holdings reported net income of $54.5 million for the first quarter of 2026 ending March 31, compared with a loss of $30.4 million for the same quarter in 2025, the company said on its earnings call Wednesday.
First quarter 2026 adjusted net income was $38.5 million, compared with a loss of $50.3 million in the first quarter of 2025.
First quarter 2026 adjusted EBITDA was $91.5 million, compared with $10.1 million in the first quarter of 2025.
- Par Pacific Holdings Inc. is No. 103 on CSP’s 2025 Top 202 ranking of U.S. c-store chains by store count.
“Our continued focus on reliability and commercial performance through market cycles enabled strong first-quarter results,” said Will Monteleone, president and CEO of the Houston-based company. “During April, the Hawaii renewable fuels facility successfully achieved commercial operations, a major milestone for the project. Our outlook is strong and we are well positioned to capitalize on the elevated margin environment across our system.”
The retail segment reported operating income of $13 million in the first quarter of 2026, compared with $16 million in the first quarter of 2025. Adjusted gross margin for the retail segment was $36.1 million in the first quarter of 2026, compared with $39.8 million in the same quarter of 2025.
Retail segment adjusted EBITDA was $15.5 million in the first quarter of 2026, compared to $18.6 million in the first quarter of 2025. The retail segment reported fuel sales volumes of 28.1 million gallons in the first quarter of 2026, compared with 29.4 million gallons in the same quarter of 2025. First-quarter 2026 same-store fuel volumes and inside sales revenue declined by 3.3% and 1%, respectively, compared with the first quarter of 2025.
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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