Press Release August 1, 2024 HF Sinclair Corporation Reports 2024 Second Quarter Results and Announces Regular Cash Dividend • Reported net income attributable to HF Sinclair stockholders of $151.8 million, or $0.79 per diluted share, and adjusted net income of $149.3 million, or $0.78 per diluted share, for the second quarter • Reported EBITDA of $408.0 million and Adjusted EBITDA of $405.8 million for the second quarter • Returned $467.1 million to stockholders through dividends and share repurchases in t ...

UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 _________________________________________________________________ FORM 10-Q _________________________________________________________________ (Mark One) (I.R.S. Employer Identification No.) ☒ QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 Dallas, Texas 75201 (Address of principal executive offices) (Zip Code) For the quarterly period ended March 31, 2024 OR ☐ TRANSITION REPORT PURSUANT TO SECTION ...

HF Sinclair Corporation (NYSE:DINO) Q1 2024 Earnings Call Transcript May 8, 2024 8:30 AM ET Company Participants Craig Biery - VP, IR Tim Go - CEO Atanas Atanasov - CFO Steve Ledbetter - EVP of Commercial Matt Joyce - SVP of Lubricants & Specialties Conference Call Participants Neil Mehta - Goldman Sachs Ryan Todd - Piper Sandler Manav Gupta - UBS Paul Cheng - Scotiabank Matthew Blair - TPH Theresa Chen - Barclays Jason Gabelman - TD Cowen Operator Welcome to the HF Sinclair Corporation's First Quarter 2024 ...

HF Sinclair (DINO) came out with quarterly earnings of $0.71 per share, beating the Zacks Consensus Estimate of $0.55 per share. This compares to earnings of $2 per share a year ago. These figures are adjusted for non-recurring items.This quarterly report represents an earnings surprise of 29.09%. A quarter ago, it was expected that this independent energy company would post earnings of $0.67 per share when it actually produced earnings of $0.87, delivering a surprise of 29.85%.Over the last four quarters, ...

Financial Performance - Reported net income attributable to HF Sinclair stockholders of $314.7 million, or $1.57 per diluted share, for Q1 2024, compared to $353.3 million, or $1.79 per diluted share, for Q1 2023 [2]. - Adjusted net income for Q1 2024 was $142.3 million, or $0.71 per diluted share, down from $394.1 million, or $2.00 per diluted share, in Q1 2023 [2]. - Consolidated net income for Q1 2024 was $1,958, compared to $31,739 in Q1 2023, reflecting a significant decline [25]. - Adjusted net income attributable to HF Sinclair stockholders was $142,263, a decrease of 63.9% from $394,087 in Q1 2023 [54]. - Adjusted earnings per share - diluted fell to $0.71, down 64.5% from $2.00 in the same quarter last year [54]. - Income before income taxes decreased to $402,096, down 17.0% from $484,705 in Q1 2023 [56]. - Effective tax rate for adjusted results increased to 21.5%, compared to 20.6% in Q1 2023 [56]. Revenue and Sales - Sales and other revenues for Q1 2024 were $7,027,145, a decrease of $537,997 or 7% compared to Q1 2023 [15]. - Total revenues for the three months ended March 31, 2024, were $7,027,145, a decrease of 7.1% compared to $7,565,142 for the same period in 2023 [25]. - Total refining segment sales and other revenues decreased to $6,204,245 thousand in Q1 2024 from $6,718,615 thousand in Q1 2023, a decrease of 7.6% [47]. - Marketing segment sales decreased to $775,807, down 17.3% from $937,385 in the same quarter last year [51]. - Renewables segment sales decreased to $239,559, down 19.6% from $298,016 in the same quarter last year [49]. Segment Performance - Refining segment income before interest and income taxes was $312.0 million for Q1 2024, a decrease from $436.9 million in Q1 2023 [3]. - Renewables segment loss before interest and income taxes was $(40.0) million for Q1 2024, improved from a loss of $(64.6) million in Q1 2023 [4]. - Marketing segment income before interest and income taxes increased to $9.4 million in Q1 2024 from $0.5 million in Q1 2023 [5]. - Midstream segment income before interest and income taxes rose to $93.1 million for Q1 2024, compared to $73.9 million in Q1 2023 [7]. Margins and Expenses - Consolidated refinery gross margin was $12.70 per produced barrel, a 45% decrease from $23.20 in Q1 2023 [3]. - Refinery gross margin per produced barrel sold decreased to $12.70 in Q1 2024 from $23.20 in Q1 2023, a decline of 45.4% [47]. - Operating expenses (exclusive of depreciation and amortization) decreased by $32,271 or 5% to $607,112 compared to $639,383 in Q1 2023 [15]. - Renewables gross margin per produced gallon decreased to $0.15 in Q1 2024 from $0.77 in Q1 2023, a decline of 80.5% [32]. - Marketing gross margin increased to $23,277, up 74.5% from $13,336 in Q1 2023 [51]. - Marketing gross margin per gallon of sales increased to $0.07 in Q1 2024 from $0.04 in Q1 2023, an increase of 75% [36]. Cash Flow and Shareholder Returns - Net cash provided by operations totaled $316.9 million for Q1 2024, with cash and cash equivalents at $1,240.9 million as of March 31, 2024 [8]. - Returned $269 million to stockholders through dividends and share repurchases in Q1 2024 [3]. - Authorized a new $1.0 billion share repurchase program [3]. - Cash dividends declared per common share increased to $0.50, up $0.05 or 11% from $0.45 in Q1 2023 [15]. Asset and Debt Management - Total assets increased to $17,915,990 as of March 31, 2024, up from $17,716,265 at the end of 2023 [16]. - Total debt decreased to $2,678,645 from $2,739,083, indicating a reduction in leverage [16]. - Cash and cash equivalents were reported at $1,240,860, down from $1,353,747 at the end of 2023 [16]. Operational Metrics - Refinery throughput in the Mid-Continent region increased to 273,890 BPD in Q1 2024, up from 231,260 BPD in Q1 2023, representing an 18.5% increase [28]. - The West region's refinery utilization improved to 82.8% in Q1 2024, compared to 68.7% in Q1 2023 [29]. - The company reported a total crude charge of 604,930 BPD for consolidated operations in Q1 2024, an increase from 498,500 BPD in Q1 2023, representing a 21.4% increase [29]. - Midstream segment volumes increased to 1,765,398 BPD in Q1 2024 from 1,676,762 BPD in Q1 2023, an increase of 5.3% [38]. - The number of branded sites in the marketing segment increased to 1,547 at the end of Q1 2024 from 1,511 at the end of Q1 2023, an increase of 2.4% [36]. Capital Expenditures - Capital expenditures for Q1 2024 totaled $89,108, a decrease from $100,069 in Q1 2023, reflecting a 10.9% reduction [25].

Have you been searching for a stock that might be well-positioned to maintain its earnings-beat streak in its upcoming report? It is worth considering HF Sinclair (DINO) , which belongs to the Zacks Alternative Energy - Other industry.This independent energy company has an established record of topping earnings estimates, especially when looking at the previous two reports. The company boasts an average surprise for the past two quarters of 20.54%.For the last reported quarter, HF Sinclair came out with ear ...

A downtrend has been apparent in HF Sinclair (DINO) lately with too much selling pressure. The stock has declined 15.1% over the past four weeks. However, given the fact that it is now in oversold territory and Wall Street analysts are majorly in agreement about the company's ability to report better earnings than they predicted earlier, the stock could be due for a turnaround.Here is How to Spot Oversold StocksWe use Relative Strength Index (RSI), one of the most commonly used technical indicators, for spo ...

HF Sinclair (DINO) is expected to deliver a year-over-year decline in earnings on lower revenues when it reports results for the quarter ended March 2024. This widely-known consensus outlook gives a good sense of the company's earnings picture, but how the actual results compare to these estimates is a powerful factor that could impact its near-term stock price.The stock might move higher if these key numbers top expectations in the upcoming earnings report, which is expected to be released on May 8. On the ...

While the hydrocarbon space might seem increasingly irrelevant amid a broader push for green and renewable infrastructure, these ideas for the most undervalued energy stocks to buy in April could change your mind.For one thing, the electric vehicle market is faltering. Basically, we wouldn’t have a sector-wide price war if demand was robust. No, instead the addressable market is shrinking, which has sparked aggressive or even desperate antics.Second, both political and geopolitical forces conspire to help t ...

Orla/iStock via Getty Images Thesis This article is my initial coverage HF Sinclair (NYSE:DINO) despite the company coming across my path on several occasions. In the past, I would glance through the slide decks and honestly never found anything that stood out about the company. That attitude does not follow suit with that of an astute investor. An astute investor follows the cash flow, not shiny objects. With that thought in mind, I decided to take a look under the hood of the $10.5 billion dinosaur. I ...