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Par Pacific Holdings reports increase in adjusted Q2 net income


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Par Pacific Holdings reports increase in adjusted Q2 net income

Par Pacific Holdings Inc. on Aug. 5 reported an adjusted second-quarter net income of $22.9 million, or 45 cents per share, up from the $14.5 million, or 31 cents per share, posted for the second quarter of 2018.

The company's GAAP net income came in at $28.2 million compared to the $16.2 million reported a year ago.

Revenues for the quarter came in at $1.41 billion, increasing sharply from the $856.4 million noted during the second quarter of 2018. Total operating expenses were reported at $1.36 billion for the period, compared to the $827.4 million posted during the same period in 2018.

Refined product sales volume came in at 176,400 barrels per day compared to the 95,300 bbl/d seen a year prior.

Retail sales volumes were pegged at 31.8 million gallons in the second quarter, up slightly from the 31.5 million gallons reported during the second quarter of 2018.

Headquartered in Houston, Par Pacific Holdings owns, manages and maintains interests in energy and infrastructure businesses.