Par Pacific Holdings Inc (PARR)

Pretax margin

		Dec 31, 2023	Sep 30, 2023	Jun 30, 2023	Mar 31, 2023	Dec 31, 2022	Sep 30, 2022	Jun 30, 2022	Mar 31, 2022	Dec 31, 2021	Sep 30, 2021	Jun 30, 2021	Mar 31, 2021	Dec 31, 2020	Sep 30, 2020	Jun 30, 2020	Mar 31, 2020	Dec 31, 2019	Sep 30, 2019	Jun 30, 2019	Mar 31, 2019
Earnings before tax but after interest (EBT) (ttm)	US$ in thousands	613,342	530,732	622,181	740,490	364,899	288,140	103,064	-155,537	-80,276	-219,953	-316,504	-251,429	-429,786	-263,282	-335,438	-265,798	-28,891	-50,298	30,558	20,864
Revenue (ttm)	US$ in thousands	8,174,420	7,803,130	7,283,650	7,602,180	7,263,690	6,745,960	5,998,020	5,106,960	4,643,589	4,081,364	3,458,832	2,757,379	3,072,260	3,755,885	4,466,717	5,356,960	5,344,170	4,824,152	4,340,218	3,796,940
Pretax margin		7.50%	6.80%	8.54%	9.74%	5.02%	4.27%	1.72%	-3.05%	-1.73%	-5.39%	-9.15%	-9.12%	-13.99%	-7.01%	-7.51%	-4.96%	-0.54%	-1.04%	0.70%	0.55%

December 31, 2023 calculation

Pretax margin = EBT (ttm) ÷ Revenue (ttm)
= $613,342K ÷ $8,174,420K
= 7.50%

The pretax margin of Par Pacific Holdings Inc has shown fluctuations over the past eight quarters. In Q4 2023, the pretax margin was 7.45%, which increased from the previous quarter's 6.75%. This indicates an improvement in the company's ability to generate profits before accounting for taxes in the most recent quarter.

Compared to the same quarter of the previous year, the Q4 2023 pretax margin of 7.45% is significantly higher than the 4.98% pretax margin in Q4 2022, reflecting positive growth in profitability.

Looking at the trend over the past year, the Q1 and Q2 of 2023 showed stronger pretax margins of 9.67% and 8.48%, respectively, before a slight decline in Q3 and then an uptick again in Q4. The company's performance in Q4 2023 demonstrates a recovery from the negative pretax margin in Q1 2022 and a notable improvement from the low of 1.70% in Q2 2022.

Overall, the pretax margin trend of Par Pacific Holdings Inc suggests fluctuations in profitability over the past eight quarters, with recent quarters showing positive momentum and increased profitability compared to the same periods in the prior year.