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.
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.
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.