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 (NYSE:HEP) has announced a cash distribution of $0.35 per unit for Q4 2022. This distribution will be paid on February 13, 2023, to unitholders on record by January 30, 2023. HEP is set to disclose its fourth-quarter financial results on February 24, 2023, before market opening, followed by a webcast at 8:30 a.m. ET. HEP, located in Dallas, Texas, specializes in petroleum transportation and storage, serving clients including HF Sinclair (NYSE:DINO).
HF Sinclair Corporation (NYSE: DINO) and Holly Energy Partners, L.P. (NYSE: HEP) will announce Q4 results for 2022 on February 24, 2023, prior to NYSE opening. The companies will hold a joint webcast at 8:30 a.m. ET on the same day to discuss their financial performance. HF Sinclair is an independent energy company based in Dallas, Texas, producing high-value light products such as gasoline and diesel. The firm operates refineries across several states and supports over 1,300 Sinclair branded stations. HEP offers transportation, storage, and terminal services to the petroleum industry, furthering the operational capabilities of HF Sinclair.
Holly Energy Partners, L.P. (NYSE: HEP) and HF Sinclair Corporation (NYSE: DINO) are set to announce their financial results for Q4 2022 on February 24, 2023, prior to NYSE trading. A joint webcast will be held the same day at 8:30 a.m. ET to discuss these results. HEP specializes in oil and petroleum product transportation, alongside storage and terminalling services across multiple states, while DINO focuses on producing and marketing refined products like gasoline and diesel. The webcast will be accessible at this link and will remain available until March 10, 2023.
Holly Energy Partners, L.P. (HEP) reported a net income of $42.0 million ($0.33 per unit) for Q3 2022, down from $49.2 million ($0.46 per unit) in Q3 2021. Adjusted EBITDA was $110.1 million, supported by the acquisition of Sinclair Transportation. Revenues rose to $149.0 million, a $26.4 million increase year-over-year, primarily driven by higher volumes and rate increases effective July 1, 2022. A quarterly distribution of $0.35 per unit was declared. Operating expenses increased to $89.5 million, influenced by higher costs associated with acquisitions.
HF Sinclair Corporation (NYSE: DINO) reported a net income of $954.4 million or $4.45 per diluted share for Q3 2022, up from $280.8 million in Q3 2021. Adjusted net income reached $982.9 million, reflecting growth driven by robust refining margins. The company returned $951.5 million to shareholders through share repurchases and dividends, including a quarterly dividend of $0.40 per share. EBITDA rose to $1,463.2 million. The renewables segment faced challenges, reporting a $49.3 million loss.
The Board of Directors of Holly Energy Partners, L.P. (NYSE:HEP) has declared a cash distribution of $0.35 per unit for Q3 2022, payable on November 11, 2022, to unitholders of record as of October 31, 2022. HEP will announce its Q3 2022 financial results on November 7, 2022, prior to NYSE trading, and will hold a webcast at 8:30 a.m. ET the same day to discuss these results. HEP provides transportation, storage, and throughput services to the petroleum industry, particularly for HF Sinclair Corporation (NYSE:DINO).
HF Sinclair Corporation (NYSE: DINO) and Holly Energy Partners, L.P. (NYSE: HEP) will announce their financial results for Q3 2022 on November 7, 2022, prior to NYSE trading. A joint webcast will take place on the same day at 8:30 a.m. ET to discuss these results, with an audio archive available until November 21, 2022. HF Sinclair operates refineries across several states and markets high-value fuels, while HEP provides vital transportation and storage services for the petroleum sector.
HF Sinclair Corporation (NYSE: DINO) and Holly Energy Partners, L.P. (NYSE: HEP) will disclose their financial results for the quarter ending September 30, 2022, on November 7, 2022, prior to NYSE trading. A joint webcast is scheduled for the same day at 8:30 a.m. ET to review these results. HF Sinclair operates refineries across several states and markets high-value light products while HEP provides transportation and storage services for the petroleum industry. This event is crucial for investors seeking insights into their financial performance.
HF Sinclair Corporation (NYSE: DINO) has appointed Atanas H. Atanasov as Executive Vice President and Chief Financial Officer, effective September 30, 2022. Atanasov brings over 25 years of experience, having previously served as CFO at Lummus Technology and Kraton Corporation. In addition, Michael C. Jennings is now President of Holly Logistic Services, the general partner of Holly Energy Partners, L.P. (NYSE: HEP). The changes follow the mutual separation from Richard L. Voliva III, former CFO of HF Sinclair.
These appointments aim to strengthen the leadership team in the energy sector.
Sinclair Oil, a brand of HF Sinclair (NYSE: DINO), announced its "Fueling Folds of Honor" initiative, aiming to raise over $700,000 for families of fallen or disabled veterans and first responders. From Sept. 12 to Oct. 16, 2022, a portion of fuel purchases at participating Sinclair stations will support educational scholarships provided by Folds of Honor. This program highlights Sinclair's commitment to serving communities with significant veteran populations. Additionally, customers can donate online or through merchandise sales.
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