HFC - HFC STOCK NEWS

HF Sinclair Corporation has been established as the new parent company of HollyFrontier and Holly Energy Partners, effective March 15, 2022. The company completed its acquisitions of Sinclair Oil Corporation and Sinclair Transportation Company. HF Sinclair boasts an expanded refining business with seven complex refineries, a growing renewables sector projected to produce 380 million gallons of renewable diesel annually, and a strong marketing presence across the U.S. HEP's integration enhances its earning power and is expected to increase cash returns to unitholders.

Holly Energy Partners, L.P. (NYSE: HEP) filed its Annual Report on Form 10-K for the fiscal year ended December 31, 2021, on February 23, 2022. The report details the company's operations in petroleum product and crude oil transportation, terminalling, storage, and throughput services. HEP operates across multiple states including Texas, New Mexico, and Wyoming. Stakeholders can access the report online or request a hard copy by contacting Investor Relations. This filing is crucial for investors looking to understand the company's financial performance and future outlook.

HollyFrontier Corporation (NYSE:HFC) reported a fourth quarter net loss of $(39.5) million or $(0.24) per diluted share for Q4 2021, an improvement from $(117.7) million in Q4 2020. The acquisition integration costs and adjustments related to the Cheyenne Refinery conversion impacted results, contributing $21.9 million to the net loss. Despite challenges, the company posted record earnings in its Lubricants and Specialties segment, with EBITDA of $915.7 million for the year. HEP reported EBITDA of $70.8 million for Q4 2021, down from $86.8 million in Q4 2020.

Holly Energy Partners (HEP) reported a net income of $45.6 million ($0.43 per unit) for Q4 2021, down from $51.3 million ($0.49 per unit) in Q4 2020. Revenues were $118.5 million, a decrease of $9 million due to lower pipeline volumes and revenues from Cheyenne assets. HEP's distributable cash flow was $63.1 million, a drop of 9.9%. The Partnership declared a quarterly cash distribution of $0.35 per unit for 2022, maintaining a coverage ratio of 1.8x. Despite challenges from operational disruptions at HollyFrontier’s refineries, HEP aims to reduce leverage to 3.0-3.5x while sustaining cash flows.

The Board of Directors of Holly Energy Partners (NYSE:HEP) has declared a cash distribution of $0.35 per unit for Q4 2021, payable on February 11, 2022. The partnership aims to maintain the quarterly distribution at this level throughout 2022, translating to $1.40 annually. HEP is focused on funding capital expenditures through operating cash flow while maintaining a distributable cash flow of at least 1.3x and reducing leverage to a target of 3.0-3.5x. Financial results will be disclosed on February 22, 2022.

HollyFrontier Corporation (NYSE: HFC) will announce its financial results for the quarter ending December 31, 2021 on February 23, 2022, before NYSE trading begins. A webcast conference is scheduled for 8:30 a.m. Eastern time on the same day to discuss these results. This event can be accessed online and will be available as an audio archive until March 9, 2022.

Holly Energy Partners, L.P. (NYSE: HEP) will announce its quarterly results for the period ending December 31, 2021, on February 22, 2022, before NYSE trading opens. A webcast conference to discuss these financial results is scheduled for the same day at 4:00 p.m. Eastern Time. Interested parties can access the webcast through the provided link. An audio archive of the conference will be available until March 8, 2022. Holly Energy operates pipelines and terminals across several states, providing essential services to the petroleum industry.

HollyFrontier Corporation (NYSE:HFC) announces the promotion of Tim Go to President and Chief Operating Officer, effective immediately. Mr. Go, previously Executive Vice President and COO since June 2020, will oversee the Refining and Lubricants segments. CEO Mike Jennings acknowledged Mr. Go's significant contributions, particularly in enhancing the Refining segment and the successful integration of the Puget Sound refinery. HollyFrontier, based in Dallas, Texas, is an independent petroleum refiner producing high-value products and holding a 57% interest in Holly Energy Partners, L.P.

HollyFrontier Corporation (NYSE:HFC) reported a strong third quarter for 2021, achieving a net income of $280.8 million, or $1.71 per diluted share, significantly improving from a net loss of $2.4 million in Q3 2020. Adjusted net income stood at $209.9 million, reflecting a solid operational performance and refined product margin strength. The company also announced the acquisition of the Puget Sound Refinery, enhancing its operational capabilities. EBITDA for the quarter reached $482.6 million, with the refining segment contributing $295.3 million due to increased product demand.