HF Sinclair (DINO) Earnings Date & Reports
HF Sinclair is an integrated petroleum refiner that owns and operates seven refineries serving the Rockies, midcontinent, Southwest, and Pacific Northwest, with a total crude oil throughput capacity of 678,000 barrels per day... Show more
DINO is expected to report earnings to rise 378.26% to $3.30 per share on July 28
HF Sinclair Corporation (DINO) First Quarter 2026 Earnings Recap: Refining Strength Fuels Major Profit Rebound
Key Takeaways
- HF Sinclair reported net income attributable to stockholders of $648 million, or $3.56 per diluted share, reversing a $4 million net loss in Q1 2025.
- Adjusted net income reached $127 million, or $0.69 per diluted share, beating Zacks Consensus Estimate of a $0.15 loss per share and improving from an adjusted loss last year.
- Sales and other revenues rose 12% to $7.12 billion, surpassing expectations around $6.84 billion.
- Adjusted EBITDA climbed 112% to $426 million, driven by refining and renewables segments.
- Returned $167 million to shareholders via dividends and repurchases; declared $0.50 per share quarterly dividend.
- Refinery utilization hit 90.4%, with adjusted gross margin of $9.95 per produced barrel sold.
Earnings Context and Why It Matters
As a leading independent refiner, HF Sinclair Corporation operates across refining, renewables, marketing, lubricants, and midstream segments. The First Quarter 2026 earnings are pivotal amid volatile energy markets, where refining crack spreads (the difference between crude oil and refined product prices) and renewable fuel demand heavily influence profitability. Investors watch these results closely for signals on operational efficiency, margin sustainability, and the company's pivot toward low-carbon fuels like renewable diesel. Strong performance here could affirm HF Sinclair's strategic positioning in a transitioning energy landscape, impacting stock valuation and sector peers.
HF Sinclair delivered robust First Quarter 2026 results, with sales and other revenues of $7.12 billion, up 12% from $6.37 billion in the prior-year quarter, exceeding consensus estimates of approximately $6.84 billion. Net income attributable to stockholders surged to $648 million ($3.56 diluted EPS), swinging from a $4 million loss ($(0.02) EPS) in Q1 2025.
Adjusted figures further highlight operational strength: adjusted net income of $127 million ($0.69 diluted EPS) beat Zacks Consensus of -$0.15, improving from an adjusted loss of $50 million last year. Adjusted EBITDA rose to $426 million from $201 million.
Refining led with $514 million income before interest and taxes (up from -$30 million), though adjusted EBITDA was $55 million; throughput reached 657,000 barrels per day (bpd), with 90.4% utilization and $9.95 adjusted gross margin per barrel (up 9% YoY). Renewables swung to $182 million income ($133 million adjusted EBITDA), fueled by higher margins and 52 million gallons sold. Marketing ($20 million), Lubricants & Specialties ($78 million), and Midstream ($94 million) also contributed positively.
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Market Reaction and Investor Sentiment
Shares of HF Sinclair rose about 2.7% to $69.03 on high volume following the earnings release on May 1, reflecting positive investor response to the profit turnaround and beats on key metrics. Sentiment turned optimistic, with focus on refining recovery and renewables momentum, though some caution lingers over inventory benefits and commodity volatility.
Forward Outlook and Key Factors to Monitor
Investors should track refining crack spreads and utilization rates, as HF Sinclair ran at the upper end of its crude charge guidance in Q1. The company's refineries processed 613,000 bpd of crude, supporting higher throughput amid favorable West region margins boosted by Renewable Identification Numbers (RINs) waivers.
In renewables, monitor demand for sustainable aviation fuel and diesel, with sales volumes up 18% YoY. Gross margins improved to $2.96 per gallon, aided by RINs prices and production tax credits, but narrowing soybean oil prices versus heating oil (BOHO spread) could pressure future quarters.
Marketing expansion targets 10% annual branded-site growth via joint ventures. Across segments, watch operating costs, including midstream incidents, and capital spending ($102 million in Q1). With $1.15 billion in cash and $2.77 billion debt, balance sheet flexibility supports $0.50 quarterly dividends and repurchases.
Broader energy dynamics, like crude prices and regulatory shifts on biofuels, remain critical. CEO Franklin Myers emphasized execution on priorities amid a favorable macroeconomic backdrop.
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Industry OilRefiningMarketing