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Par Petroleum: 4Q Earnings Snapshot

February 24, 2021 GMT

HOUSTON (AP) _ Par Petroleum Corp. (PARR) on Wednesday reported a fourth-quarter loss of $131.9 million, after reporting a profit in the same period a year earlier.

On a per-share basis, the Houston-based company said it had a loss of $2.47. Losses, adjusted for non-recurring costs, were $1.41 per share.

The results missed Wall Street expectations. The average estimate of three analysts surveyed by Zacks Investment Research was for a loss of $1.26 per share.

The independent oil and gas company posted revenue of $715 million in the period.

For the year, the company reported a loss of $409.1 million, or $7.68 per share, swinging to a loss in the period. Revenue was reported as $3.12 billion.

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Par Petroleum shares have climbed 28% since the beginning of the year. In the final minutes of trading on Wednesday, shares hit $17.88, a decline of nearly 4% in the last 12 months.

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This story was generated by Automated Insights (http://automatedinsights.com/ap) using data from Zacks Investment Research. Access a Zacks stock report on PARR at https://www.zacks.com/ap/PARR