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Eneos Posts Loss in Fiscal Q1, Refinery Run Rate at 74%
ByAinvest
Friday, Aug 8, 2025 8:15 am ET1min read
Eneos Holdings, Japan's largest refiner, has swung to a loss in fiscal Q1 due to several troubles at its refineries. The company's refinery run rate, excluding scheduled maintenance, was 74% in Q1. Despite this, Eneos aims for an annual run rate above last year's 78%. The company has also acquired a 7.2% stake in Raiznext Corporation and launched a renewables JV with Mitsubishi and Par Pacific.
Title: Eneos Holdings Struggles in Q1, but Aims for RecoveryEneos Holdings, Japan's largest refiner, reported a loss in fiscal Q1 due to several issues at its refineries. The company's refinery run rate, excluding scheduled maintenance, was 74% in Q1, significantly lower than the 78% achieved in the previous year. Despite this, Eneos aims to achieve an annual run rate above last year's 78%.
The company also announced a series of strategic moves to bolster its financial position. Eneos acquired a 7.2% stake in Raiznext Corporation, a Japanese renewable energy company, and launched a renewables joint venture with Mitsubishi and Par Pacific. The joint venture, with Par Pacific holding a 63.5% controlling interest and Mitsubishi and Eneos contributing $100 million, aims to drive growth in the renewable energy sector.
Eneos's Q1 results highlight the challenges faced by the company in its core refining business. The low run rate and the resulting loss underscore the need for operational improvements and cost management. The strategic investments in renewable energy and the acquisition of Raiznext indicate a shift in focus towards sustainable and high-growth sectors.
The company's ability to navigate these challenges and achieve its annual run rate target will be crucial for its future performance. The joint venture with Mitsubishi and Par Pacific, along with the acquisition of Raiznext, positions Eneos to capitalize on the growing demand for renewable energy solutions.
References:
[1] https://www.nasdaq.com/articles/advanced-drainage-wms-q1-revenue-2
[2] https://seekingalpha.com/news/4480164-par-pacific-targets-saf-project-start-up-and-100m-jv-investment-as-cash-flow-outlook
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