Welcome to our dedicated page for HF Sinclair news (Ticker: DINO), a resource for investors and traders seeking the latest updates and insights on HF Sinclair stock.
HF Sinclair Corporation reports news about an independent energy company that produces and markets gasoline, diesel fuel, jet fuel, renewable diesel, lubricants and specialty products. The company owns and operates refineries in Kansas, Oklahoma, New Mexico, Wyoming, Washington and Utah, provides petroleum product and crude oil transportation, terminalling, storage and throughput services, and sells refined products across the Southwest, Rocky Mountains, Pacific Northwest and neighboring Plains states.
Recurring updates for DINO include operating and financial results, regular cash dividends, refining margins and segment performance, renewable diesel volumes, branded fuel marketing initiatives under the Sinclair brand, and governance or leadership developments. Company news also covers its base oils and specialized lubricants business in the U.S., Canada and the Netherlands, along with international product exports.
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.
HF Sinclair Corporation (NYSE: DINO) reported a strong second quarter with net income of $1,221.3 million, or $5.43 per diluted share, significantly up from $168.9 million in Q2 2021. Adjusted net income reached $1,258.5 million with an EBITDA of $1,805.9 million. The company returned $200.6 million to shareholders through dividends and share repurchases and announced a quarterly dividend of $0.40 per share, payable on September 1, 2022. Strong performance in refining and marketing segments contributed to these results, despite some losses in renewable operations.
HF Sinclair Corporation (NYSE:DINO) appointed Rhoman J. Hardy to its Board of Directors effective July 2, 2022. This decision expands the Board to twelve directors, with ten being independent. Mr. Hardy brings over 34 years of experience in the oil and gas industry, having held key positions at Shell USA, including Senior VP for Shell Chemicals and Products. His expertise in energy infrastructure and management is expected to contribute positively to HF Sinclair's corporate governance.
HF Sinclair Corporation (NYSE: DINO) and Holly Energy Partners, L.P. (NYSE: HEP) are set to announce their financial results for the quarter ending June 30, 2022, on August 8, 2022, prior to market opening. A joint webcast conference will take place at 8:30 a.m. Eastern time to discuss these results. HF Sinclair is an independent energy company with operations in multiple states, focusing on high-value light products including gasoline and renewable diesel. HEP provides transportation and storage services to the petroleum industry.