Filing Flows › PAR Pacific Holdings (PARR) › Q2 2026 › vs Q2 2025
PAR Pacific Holdings (PARR) Q2 2026 vs Q2 2025 (year over year)
PAR Pacific Holdings's revenue rose $1.1B (+57%) from $1.9B in Q2 2025 to $3.0B in Q2 2026. The biggest changes: Fuel Revenue +$1.1B (+58%); Other Revenue +$3.3M (+6%). Operating margin 21.4% against 5.1% (+16.3 pts).
PAR Pacific Holdings, Q2 2026: revenue $3.0B (+57% year over year), operating margin 21.4%, net earnings $462M, operating cash flow $283M. The chart draws each line against Q2 2025, the increases inside each band.
Margins
| Q2 2026 | Q2 2025 | Change | |
|---|---|---|---|
| Operating margin | 21.4% | 5.1% | +16.3 pts |
| Net margin | 15.6% | 3.1% | +12.4 pts |
| Free cash flow margin | 8.2% | 4.5% | +3.7 pts |
Every line
| Line | Q2 2026 | Q2 2025 | Change | % |
|---|---|---|---|---|
| Fuel Revenue | $2.9B | $1.8B | $1.1B | +58% |
| Other Revenue | $61.9M | $58.6M | $3.3M | +6% |
| Revenue | $3.0B | $1.9B | $1.1B | +57% |
| Operating profit | $635M | $96.8M | $538M | +556% |
| Costs & expenses | $2.3B | $1.8B | $538M | +30% |
| Pre-tax earnings | $607M | $76.3M | $531M | +695% |
| Other expense, net | $27.6M | $20.4M | $7.2M | +35% |
| Cost of revenue | $2.1B | $1.6B | $523M | +33% |
| General & admin | $28.0M | $23.6M | $4.4M | +19% |
| Other operating costs | $190M | $180M | $10.5M | +6% |
| Net earnings | $462M | $59.5M | $403M | +677% |
| Minority interests | $810K | $0 | $810K | — |
| Income tax | $144M | $16.9M | $127M | +753% |
| Depreciation & amortization | $36.5M | $34.7M | $1.7M | +5% |
| Share-based compensation | $4.4M | $4.5M | −$94K | -2% |
| Working capital & other | $220M | −$34.9M | $255M | — |
| Operating cash flow | $283M | $134M | $149M | +112% |
| Free cash flow (OCF − capex) | $243M | $85.5M | $157M | +184% |
| Capital expenditures | $39.7M | $48.1M | −$8.4M | -17% |
Questions
How much did PAR Pacific Holdings's revenue grow year over year in Q2 2026?
PAR Pacific Holdings's revenue rose $1.1B (+57%) from $1.9B in Q2 2025 to $3.0B in Q2 2026.
What drove PAR Pacific Holdings's revenue change in Q2 2026?
Fuel Revenue +$1.1B (+58%); Other Revenue +$3.3M (+6%).