Press Release February 18, 2026 HF Sinclair Reports 2025 Fourth Quarter and Unaudited Full Year Results and Announces Regular Cash Dividend Fourth Quarter Full Year 2025 Dallas, Texas, February 18, 2026 ‑ HF Sinclair Corporation (NYSE and NYSE Texas, Inc.: DINO) ("HF Sinclair" or the "Company") today reported fourth quarter Net loss attributable to HF Sinclair stockholders of $28 million, or $(0.16) per diluted share, for the quarter ended December 31, 2025, compared to Net loss attributable to HF Sinclair ...

Core Insights - HF Sinclair Corporation reported a fourth quarter net loss attributable to stockholders of $28 million, or $(0.16) per diluted share, for the quarter ended December 31, 2025, showing an improvement compared to a net loss of $214 million, or $(1.14) per diluted share, for the same quarter in 2024 [1] Financial Performance - The company experienced a significant reduction in net loss, decreasing from $214 million in Q4 2024 to $28 million in Q4 2025, indicating a positive trend in financial performance [1]

DALLAS--(BUSINESS WIRE)--HF Sinclair Corporation (NYSE and NYSE Texas: DINO) (the "Company†or "HF Sinclair†) today announced that, on February 17, 2026, the Board of Directors of HF Sinclair (the "Board†) received a request from Mr. Tim Go, the Company's Chief Executive Officer and President, and a member of the Board, to take a voluntary leave of absence from his duties. The Board has accepted the request and, in a special meeting, elected the current Chairperson of the Board, Mr. Franklin My. ...

Core Insights - HF Sinclair is a significant player in the Zacks Oil and Gas - Refining and Marketing industry, with quarterly earnings set to be released on February 18, 2026, projecting an EPS of $0.44 and revenue of approximately $6.07 billion, which could influence short-term stock performance [1][6] Financial Performance - The company has a history of exceeding earnings expectations, with an average earnings surprise of 40.87% over the past two quarters, indicating strong performance potential [2][6] - Despite a projected revenue decline of 4.1% year-over-year, HF Sinclair is expected to report a substantial EPS increase of 143.1% compared to the same quarter last year [3][6] - The consensus EPS estimate has been revised downward by 35.8% in the last 30 days, which may affect investor sentiment and stock price [3] Valuation Metrics - HF Sinclair has a price-to-earnings (P/E) ratio of approximately 27.41, reflecting the price investors are willing to pay for each dollar of earnings [4] - The price-to-sales ratio stands at about 0.40, indicating the market values the company at 40 cents for every dollar of sales [4] - The enterprise value to sales ratio is approximately 0.47, and the enterprise value to operating cash flow ratio is around 10.81, suggesting a valuation over ten times its operating cash flow [5] - The debt-to-equity ratio is about 0.34, indicating a moderate level of debt relative to equity [5]

Core Viewpoint - HF Sinclair (DINO) is expected to report quarterly earnings of $0.44 per share, reflecting a year-over-year increase of 143.1%, while revenues are projected to be $6.23 billion, down 4.1% from the previous year [1] Earnings Estimates - The consensus EPS estimate has been revised downward by 35.8% in the past 30 days, indicating a reassessment by analysts [1][2] Revenue Projections - Analysts estimate 'Sales and other revenues - Lubricants & Specialties' to reach $631.77 million, a year-over-year increase of 2.4% [4] - 'Sales and other revenues - Midstream' is expected to be $162.25 million, down 3.4% year-over-year [4] - 'Sales and other revenues - Marketing' is projected at $792.71 million, reflecting a year-over-year increase of 4.3% [4] - 'Sales and other revenues - Refining' is estimated to be $3.64 billion, indicating a significant year-over-year decline of 36.9% [5] - 'Sales and other revenues - Renewables' is expected to reach $169.63 million, down 28.7% year-over-year [5] Production Metrics - 'Mid-Continent Region - Sales of produced refined products' is projected at 271.03 thousand barrels per day, up from 238.23 thousand barrels per day year-over-year [6] - 'Consolidated - Sales of produced refined products' is expected to be 595.22 thousand barrels per day, slightly down from 596.80 thousand barrels per day year-over-year [6] - 'West Region - Sales of produced refined products' is estimated at 323.94 thousand barrels per day, down from 358.57 thousand barrels per day in the same quarter last year [7] - 'Consolidated - Refinery throughput' is projected at 603.30 thousand barrels per day, nearly unchanged from 603.70 thousand barrels per day year-over-year [8] - 'West Region - Refinery throughput' is expected to be 323.82 thousand barrels per day, down from 369.31 thousand barrels per day year-over-year [8] - 'Mid-Continent Region - Refinery throughput' is projected at 279.49 thousand barrels per day, up from 234.39 thousand barrels per day year-over-year [9] - 'Lubricants and Specialty products - Sales of produced refined products' is estimated at 29,760.90 thousand barrels per day, compared to 29,492.00 thousand barrels per day year-over-year [10] Stock Performance - Over the past month, HF Sinclair shares have increased by 20.4%, contrasting with a -1.7% change in the Zacks S&P 500 composite [11]

Summary of Key Points from the Conference Call Industry Overview - The report focuses on the **Energy sector**, highlighting a significant repricing of energy equities in 2026, with the XLE index up **23%** compared to the S&P 500's **1%** increase. This strength is attributed to positive GDP revisions, a tech rotation, and favorable oil momentum amid geopolitical uncertainties and smaller-than-expected surpluses [1][2]. Core Investment Ideas - The report identifies **10 stocks** with attractive total return potential, averaging **19%** total return, based on a mid-cycle view of **$70** Brent and **$3.75** Henry Hub prices [1][5]. Key Stocks and Their Investment Thesis 1. **HF Sinclair Corporation (DINO)** - Current Price: **$58.76**, Price Target: **$64** (9% upside) - Expected total return of **12%** with a **3%** dividend yield. - Strong balance sheet, non-refining earnings contributions, and exposure to a tighter West Coast market are key drivers [6]. 2. **ConocoPhillips (COP)** - Current Price: **$111.21**, Price Target: **$120** (8% upside) - Expected total return of **11%** with a **3%** dividend yield. - Major growth projects and cost reductions expected to generate **$7 billion** in incremental free cash flow by 2029 at **$70/b** WTI [7][9]. 3. **EQT Corporation (EQT)** - Current Price: **$56.93**, Price Target: **$66** (16% upside) - Expected total return of **17%** with a **1%** dividend yield. - Strong inventory position in the low-cost Appalachian Basin and improved cost structure post-acquisition are highlighted [10]. 4. **Viper Energy, Inc. (VNOM)** - Current Price: **$43.85**, Price Target: **$54** (23% upside) - Expected total return of **29%** with a **5%** dividend yield. - No-capex business model and commitment to return **75%** of cash available for distribution to shareholders are key factors [11]. 5. **Diamondback Energy, Inc. (FANG)** - Current Price: **$169.01**, Price Target: **$187** (11% upside) - Expected total return of **13%** with a **2%** dividend yield. - Strong operational execution and commitment to return capital to shareholders are emphasized [13]. 6. **Kinder Morgan, Inc. (KMI)** - Current Price: **$31.45**, Price Target: **$32** (2% upside) - Expected total return of **6%** with a **4%** dividend yield. - Significant natural gas-focused backlog and recent earnings beat are noted [14]. 7. **Cheniere Energy, Inc. (LNG)** - Current Price: **$219.41**, Price Target: **$275** (25% upside) - Expected total return of **26%** with a **1%** dividend yield. - Highly contracted asset footprint provides insulation from commodity price downside [15]. 8. **Golar LNG Limited (GLNG)** - Current Price: **$44.20**, Price Target: **$56** (27% upside) - Expected total return of **29%** with a **2%** dividend yield. - Shift towards floating liquefaction business and potential for significant EBITDA growth are highlighted [18]. 9. **Halliburton Company (HAL)** - Current Price: **$35.03**, Price Target: **$40** (14% upside) - Expected total return of **16%** with a **2%** dividend yield. - Strong performance in international markets and potential for margin expansion are noted [19]. 10. **Vistra Corp. (VST)** - Current Price: **$160.15**, Price Target: **$205** (28% upside) - Expected total return of **29%** with a **1%** dividend yield. - Upside potential from contracting remaining nuclear generation and favorable valuation metrics are discussed [21]. Additional Insights - The report emphasizes the importance of monitoring macroeconomic factors, commodity prices, and operational execution as key risks for the companies mentioned [26][27][29][30][31][34]. - The overall sentiment in the energy sector remains constructive, with expectations of continued strength in energy services and integrated oil stocks, despite some relative weakness in gas exploration and production [23]. This comprehensive overview captures the essential insights and investment opportunities within the energy sector as discussed in the conference call.

Core Viewpoint - HF Sinclair (DINO) is anticipated to report a year-over-year increase in earnings despite a decline in revenues for the quarter ending December 2025, with the consensus outlook indicating a significant earnings picture that could influence the stock price in the near term [1][2]. Earnings Expectations - The upcoming earnings report is expected to be released on February 18, and if the key numbers exceed expectations, the stock may rise; conversely, a miss could lead to a decline [2]. - The consensus estimate for quarterly earnings is projected at $0.44 per share, reflecting a year-over-year increase of +143.1%, while revenues are expected to be $6.23 billion, down 4.1% from the previous year [3]. Estimate Revisions - Over the last 30 days, the consensus EPS estimate has been revised down by 42.37%, indicating a reassessment by analysts of their initial estimates [4]. - The Most Accurate Estimate for HF Sinclair aligns with the Zacks Consensus Estimate, resulting in an Earnings ESP of 0%, suggesting no recent differing analyst views [12]. Earnings Surprise History - In the last reported quarter, HF Sinclair was expected to post earnings of $1.94 per share but exceeded this with actual earnings of $2.44, resulting in a surprise of +25.77% [13]. - Over the past four quarters, the company has surpassed consensus EPS estimates three times [14]. Predictive Indicators - A positive Earnings ESP is a strong predictor of an earnings beat, especially when combined with a Zacks Rank of 1 (Strong Buy), 2 (Buy), or 3 (Hold), with research indicating a nearly 70% success rate for this combination [10]. - HF Sinclair currently holds a Zacks Rank of 3, making it challenging to predict a definitive earnings beat [12].

Core Viewpoint - HF Sinclair is expected to report Q4 2025 earnings with an anticipated earnings per share of $0.83 and revenue of $6.1856 billion, with the earnings call scheduled for February 18, 2026 [2] Financial Performance - Shares of HF Sinclair opened at $57.69, with a quick ratio of 0.97, a current ratio of 1.91, and a debt-to-equity ratio of 0.29 [2] - The company has a market capitalization of $10.61 billion, a price-to-earnings ratio of 27.60, and a beta of 0.87 [2] - The stock has a 12-month low of $24.66 and a high of $59.11, with a 50-day simple moving average of $49.82 and a 200-day simple moving average of $50.47 [2] Analyst Ratings - Wall Street Zen downgraded HF Sinclair from "strong-buy" to "buy" [3] - Wells Fargo set an "equal weight" rating with a price target of $58.00 [3] - Barclays reduced their price target from $54.00 to $51.00, maintaining an "equal weight" rating [3] - Scotiabank reaffirmed an "outperform" rating with a target price of $62.00 [3] - The average rating for HF Sinclair is "Moderate Buy" with an average target price of $59.90 [3] Hedge Fund Activity - Invesco Ltd. increased its position in HF Sinclair by 104.3%, owning 1,947,075 shares valued at $101.91 million [4] - Jacobs Levy Equity Management Inc. raised its stake by 151.9%, now holding 902,091 shares worth $47.22 million [4] - BNP Paribas Financial Markets lifted its stake by 967.9%, owning 418,590 shares valued at $21.91 million [4] - 88.29% of HF Sinclair's stock is owned by institutional investors and hedge funds [4] Company Overview - HF Sinclair Corporation is a diversified energy manufacturing company involved in refining, marketing, and transporting petroleum products across the U.S. [5] - The company operates a network of refineries and processing facilities, converting crude oil into fuels and specialty products [5] - Core products include gasoline, diesel, jet fuel, and renewable fuels such as renewable diesel and biodiesel [6]

Core Viewpoint - Hundreds of drivers in Colorado are facing expensive automotive repairs due to gasoline contaminated with diesel, affecting around 1,000 drivers and at least 46 gas stations in the Denver metro area [1][2]. Group 1: Contamination Details - The contamination occurred when a shipment of diesel fuel was mistakenly sold as regular unleaded gas, which can cause significant damage to vehicles designed for regular gasoline [3]. - The contaminated fuel was pumped between January 7 and January 8, leading to widespread issues for drivers [2]. Group 2: Financial Impact on Drivers - Repair costs for vehicles damaged by the contaminated fuel can start at $1,000, with some drivers reporting bills as high as $3,200, excluding additional costs [3]. - Drivers may face financial hurdles as they might need to pay for repairs upfront, even though reimbursement is promised by HF Sinclair, the distributor of the contaminated fuel [4]. Group 3: Individual Experiences - One driver reported spending approximately $4,000 out of pocket for repairs, towing, and rental car costs after experiencing mechanical issues [5]. - Another driver faced difficulties when her vehicle wouldn't start after filling up with the contaminated gas, leading her to file a claim with her insurance provider, which would cover repairs after a deductible [6].

Core Viewpoint - HF Sinclair Corporation (NYSE:DINO) is considered a mid-cap stock to buy by top investors, despite recent adjustments to earnings forecasts due to operational challenges on the West Coast [1][3]. Group 1: Earnings Forecast Adjustments - Piper Sandler has reduced its fourth-quarter 2025 earnings per share projections for HF Sinclair to $0.44 from $0.96 and lowered its EBITDA forecast to $358 million from $473 million [3]. - Scotiabank has also decreased its price target for HF Sinclair from $66 to $62 as part of a broader revision of price forecasts for large-cap E&P, refining, and American integrated oil equities [3]. Group 2: Operational Insights - The operational difficulties on the West Coast are described as "messy" and are the primary reason for the downward adjustments in earnings predictions [1][3]. - Despite the current challenges, Piper Sandler views these West Coast issues as "non-recurring" and expresses optimism for HF Sinclair in 2026, citing potential benefits from wider crude price differentials and an improving West Coast market [3]. Group 3: Company Overview - HF Sinclair Corporation is an independent petroleum refiner in the United States, with operations spanning the mid-continent, southwestern, and Rocky Mountain regions [4].