DINO
HF Sinclair Corporation47.62
-1.99-4.01%
Dec 16, 4:00:02 PM EST
Earnings Call Transcripts
This Quarter (Q1 '26)
No earnings call transcript available yet
Last Quarter (Q4 '25)
FY Q4 '25
Dodges leadership; refines outlook.
Q&A stonewalled queries on CEO leave and disclosure review, stressing business as usual and financials intact. Refining margins faced late-quarter cracks and maintenance timing headwinds, yet management doubled down on 2026 bullishness from diesel/jet strength, heavy differentials, and PAD 5 tightness. Green Trail JV promises low-multiple branded growth plus rack-to-retail economics as a template. Lubricants Q4 slip tied to destocking, weather, and process oil slowdowns. SREs delivered ~$300M Q4 cash but no forward guidance. Leadership silence looms large.
Key Stats
Market Cap
8.91BP/E (TTM)
22.57Basic EPS (TTM)
2.11Dividend Yield
0.04%Recent Filings
8-K
Garg named Acting CFO
HF Sinclair named Vivek Garg, its VP and Chief Accounting Officer, as Acting CFO effective February 24, 2026, as previously noted in its 10-K. The board approved a $25,000 monthly stipend from March 1 and a $375,000 RSU grant vesting 50% on December 1, 2026, and 50% in 2027. Garg holds no conflicting relationships. Leadership continuity holds firm.
10-K
FY2025 results
HF Sinclair posted FY2025 net income of $579M, up sharply from $177M in 2024, fueled by refining margins that soared to $15.37 per produced barrel sold (derived), a 47% y/y jump thanks to lower crude costs and $485M in EPA small refinery RIN waivers—yet Q4 weighed on the year with $417M LCM inventory writedowns. Refining utilization hit 89.1% on 604k BPD crude charge, while Renewables sales dipped to 214M gallons with margins at $0.26/gallon amid PTC transition volatility. Marketing grew branded sites to 1,744, lifting margins to $0.11/gallon; Midstream volumes held steady. Q4 momentum softened on turnarounds at Parco, Puget Sound and Tulsa. Debt stands at $2.8B post-refinancing, with $3B liquidity and $459M buyback capacity left. Pipeline integrity programs pose a key risk to quarterly flows.
8-K
CEO leave, Q4 results out
HF Sinclair reported Q4 2025 net loss of $28M but adjusted net income of $221M, with full-year net income $579M; declared $0.50/share dividend. CEO Tim Go took voluntary leave February 17, 2026; Board named Chairman Franklin Myers temporary CEO. No disagreements; Audit Committee reviews disclosures, delaying 10-K yet expecting timely filing. Leadership shift tests continuity.
8-K
2026 capex: $775M
HF Sinclair issued 2026 capex guidance of $775 million total, split into $650 million sustaining—including $325 million turnarounds—and $125 million growth. Refining leads at $225 million, followed by marketing and midstream at $30 million each. Guidance excludes acquisition impacts. Risks abound from market volatility.
8-K
Investor update on costs, growth
HF Sinclair furnished an investor presentation on December 8, 2025, highlighting refining cost cuts to $7.12 per throughput barrel in Q3 2025 while targeting $7.25, marketing EBITDA surging to $108M annualized, and midstream evaluating Westward Expansion for 150k bpd supply into California and Nevada by 2028. Marketing sites grew 39% post-Sinclair buy. Risks include crude volatility and regulations.
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