Welcome to our dedicated page for HF Sinclair Corporation news (Ticker: DINO), a resource for investors and traders seeking the latest updates and insights on HF Sinclair Corporation stock.
HF Sinclair Corporation (symbol: DINO) is a prominent integrated petroleum refiner headquartered in the United States. The company manages and operates seven strategically located refineries across the Rockies, midcontinent, Southwest, and Pacific Northwest regions. These facilities boast a combined crude oil throughput capacity of an impressive 678,000 barrels per day, underscoring HF Sinclair's substantial role in the petroleum industry.
In addition to its refining capabilities, HF Sinclair excels in producing renewable energy. The company can generate up to 380 million gallons of renewable diesel annually, reflecting its commitment to sustainable energy solutions and reducing carbon footprints.
HF Sinclair's marketing arm is vast, encompassing over 300 distributors and 1,500 wholesale branded sites spread across 30 states. Such an extensive reach ensures the widespread availability of its refined petroleum products, thereby meeting diverse customer needs consistently.
The company also prides itself on its extensive logistics network. It owns and operates approximately 4,400 miles of petroleum product pipelines and terminals, primarily located in the southwestern United States. This network plays a crucial role in ensuring the efficient and safe transportation of petroleum products, further reinforcing HF Sinclair's operational capabilities.
HF Sinclair continues to innovate and expand its operations. Recent achievements include advancements in renewable diesel production and strategic partnerships aimed at enhancing its position in the energy market. Financially, the company remains robust, demonstrating strong performance metrics and a commitment to delivering value to its stakeholders.
The Board of Directors of Holly Energy Partners, L.P. (NYSE:HEP) has declared a cash distribution of $0.35 per unit for Q1 2023, payable on May 11, 2023, to unitholders of record on May 1, 2023.
HEP will release its Q1 2023 results on May 4, 2023, prior to NYSE trading, followed by a webcast at 8:30 a.m. ET to discuss financial outcomes.
This press release also serves as a qualified notice under tax regulations, informing that all distributions to foreign investors are subject to federal income tax withholding at the highest rate applicable.
Holly Energy Partners provides vital services in petroleum product and crude oil transportation and storage, operating pipelines and terminals across multiple U.S. states.
HF Sinclair Corporation (NYSE:DINO) has announced executive leadership changes alongside the promotion of Tim Go to Chief Executive Officer effective May 9, 2023. Valerie Pompa is now Executive Vice President, Operations, bringing over 30 years of experience from her role at Flint Hills Resources. Steve Ledbetter joins as Executive Vice President, Commercial, previously with Shell for 24 years, while Matt Joyce becomes Senior Vice President, Lubricants & Specialties after a notable tenure at Lubrizol. Tim Go expressed confidence in the leadership team's ability to drive HF Sinclair's operational and commercial growth.
HF Sinclair Corporation (NYSE: DINO) and Holly Energy Partners, L.P. (NYSE: HEP) will announce their quarterly financial results for the period ending March 31, 2023, on May 4, 2023, before NYSE trading opens. A joint webcast conference is scheduled for the same day at 8:30 a.m. Eastern Time to discuss these results. HF Sinclair operates refineries across several states and markets high-value light products, while HEP provides transportation and storage services in the petroleum industry. The webcast will be accessible online, with an audio archive available until May 18, 2023.
Holly Energy Partners, L.P. (NYSE: HEP) and HF Sinclair Corporation (NYSE: DINO) will announce their financial results for the quarter ending March 31, 2023 on May 4, 2023, prior to NYSE trading. A joint webcast is scheduled for 8:30 a.m. Eastern time on the same day to discuss these results. The webcast can be accessed through a provided link, and an audio archive will be available until May 18, 2023. HEP is known for its petroleum transportation and storage services across multiple states, while DINO focuses on producing and marketing high-value fuels and lubricants.
Holly Energy Partners, L.P. (NYSE: HEP) filed its Annual Report on Form 10-K for the fiscal year ending December 31, 2022, with the U.S. Securities and Exchange Commission on February 28, 2023. Investors can access the report through the company’s website. Holly Energy provides essential petroleum product and crude oil services, including transportation and storage, primarily to HF Sinclair Corporation. The company operates a vast network of pipelines and terminals across several states, ensuring a crucial role in the energy sector.
Holly Energy Partners, L.P. (HEP) reported a net income of $68.5 million, or $0.54 per unit, for Q4 2022, up from $45.6 million in Q4 2021. The quarterly distribution is set at $0.35 per unit. Q4 2022 revenues reached $142.5 million, a $24 million increase year-over-year, driven by the Sinclair Transportation acquisition and pipeline revenue growth. Adjusted EBITDA was $115.7 million, reflecting stable earnings despite increased interest expenses. The annual revenue for 2022 stood at $547.5 million, up $53 million from 2021. The company anticipates achieving a leverage target of 3.5 times by mid-2023.
HF Sinclair reported strong financial results for Q4 2022, with a net income of $587 million, or $2.92 per diluted share, compared to a net loss of $39.5 million in Q4 2021. Adjusted net income was $597.8 million. The company returned $475.2 million to shareholders through dividends and share repurchases, announcing a dividend increase to $0.45 per share, payable on March 17, 2023. For the full year, net income reached $2.9 billion, supported by strong contributions from Refining and Lubricants segments, with EBITDA at $990.9 million for Q4 and $4.6 billion for the year. Cash reserves increased by $217.7 million, totaling $1.67 billion as of December 31, 2022.
HF Sinclair Corporation (NYSE: DINO) announced the promotion of Tim Go to Chief Executive Officer and President, effective May 9, 2023. Previously serving as President and COO since November 2021, Go has extensive experience in the energy sector. The Board also expanded to 13 members, with Go appointed as a non-independent director. Michael C. Jennings will transition to Executive Vice President, Corporate, until his planned retirement on November 9, 2023. Go is expected to lead the company towards future growth, with Jennings being recognized for his significant contributions during his tenure.
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