HF Sinclair (NYSE:DINO) Posts Earnings Results, Beats Expectations By $0.75 EPS

Key Points

• HF Sinclair reported $0.69 EPS versus a consensus loss of ($0.06) and revenue of $7.12B; GAAP net income was $648M (incl. $521M of special items), adjusted net income was $127M, the company returned $167M to shareholders, declared a $0.50 quarterly dividend, and ended the quarter with about $3.15B of liquidity.
• Operationally, stronger refining margins and a robust renewables business (adjusted EBITDA $133M) drove the surprise profit and projects to improve yield are underway, but lubricants face “unprecedented” feedstock cost inflation that continues to pressure margins.
• Governance risk is elevated because both the CEO and CFO are on leave and the board is conducting a leadership review, introducing execution and oversight uncertainty until resolved.

HF Sinclair (NYSE:DINO - Get Free Report) announced its earnings results on Friday. The company reported $0.69 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of ($0.06) by $0.75, Briefing.com reports. The business had revenue of $7.12 billion during the quarter, compared to analysts' expectations of $6.83 billion. HF Sinclair had a net margin of 2.15% and a return on equity of 10.20%. The firm's revenue for the quarter was up 11.8% on a year-over-year basis. During the same quarter last year, the company posted ($0.27) EPS.

Here are the key takeaways from HF Sinclair's conference call:

• Q1 GAAP net income was $648M ($3.56/sh)$521M of special items; adjusted net income was $127M and adjusted EBITDA $426M, while the company returned $167M to shareholders and ended the quarter with ~$3.15B liquidity (cash $1.15B + $2B undrawn facility).
• Operations ran safely and reliably—no tier‑1 process safety events, crude charge ~613k bpd, completed major turnarounds, and near‑term projects (7k bpd diesel/jet swing and El Dorado vacuum tower) aimed at improving yield and feedstock flexibility into the summer.
• Renewables outperformed with adjusted EBITDA of $133M, driven by BOHO spread narrowing, higher RINs and recognition of producer tax credits, and management expects continued support from LCFS/D4 RINs/PTC dynamics.
• Lubricants faced “unprecedented” feedstock cost inflation; management has implemented pricing actions and saw a large FIFO benefit, but margin recovery is still in progress and cost pressure remains a near‑term headwind.
• Governance uncertainty—both the CEO and CFO are on leave and the board is conducting a leadership review; management declined to provide details, which introduces execution/governance risk until resolved.

HF Sinclair Price Performance

NYSE:DINO traded up $1.82 during mid-day trading on Friday, reaching $69.03. 4,079,238 shares of the company were exchanged, compared to its average volume of 2,012,166. HF Sinclair has a 12 month low of $31.04 and a 12 month high of $70.51. The company has a fifty day moving average of $58.12 and a 200 day moving average of $53.91. The company has a quick ratio of 0.90, a current ratio of 1.94 and a debt-to-equity ratio of 0.30. The stock has a market cap of $12.44 billion, a PE ratio of 13.26 and a beta of 0.72.

HF Sinclair Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, June 2nd. Shareholders of record on Monday, May 11th will be issued a dividend of $0.50 per share. The ex-dividend date of this dividend is Monday, May 11th. This represents a $2.00 dividend on an annualized basis and a yield of 2.9%. HF Sinclair's dividend payout ratio is currently 65.15%.

Institutional Inflows and Outflows

Several hedge funds have recently modified their holdings of DINO. Goldman Sachs Group Inc. boosted its stake in shares of HF Sinclair by 14.6% in the 1st quarter. Goldman Sachs Group Inc. now owns 939,764 shares of the company's stock valued at $30,899,000 after purchasing an additional 119,832 shares during the last quarter. Focus Partners Wealth boosted its stake in shares of HF Sinclair by 71.7% in the 1st quarter. Focus Partners Wealth now owns 19,400 shares of the company's stock valued at $638,000 after purchasing an additional 8,102 shares during the last quarter. Amundi boosted its stake in shares of HF Sinclair by 7.7% in the 2nd quarter. Amundi now owns 174,199 shares of the company's stock valued at $7,588,000 after purchasing an additional 12,387 shares during the last quarter. Jump Financial LLC bought a new position in shares of HF Sinclair in the 2nd quarter valued at about $209,000. Finally, Cerity Partners LLC boosted its stake in shares of HF Sinclair by 25.7% in the 2nd quarter. Cerity Partners LLC now owns 145,047 shares of the company's stock valued at $5,959,000 after purchasing an additional 29,635 shares during the last quarter. Institutional investors own 88.29% of the company's stock.

Analyst Ratings Changes

A number of equities research analysts recently issued reports on DINO shares. Wells Fargo & Company increased their target price on shares of HF Sinclair from $58.00 to $67.00 and gave the stock an "equal weight" rating in a research report on Tuesday, March 31st. Wall Street Zen lowered shares of HF Sinclair from a "strong-buy" rating to a "buy" rating in a report on Sunday, April 12th. BMO Capital Markets decreased their price objective on shares of HF Sinclair from $65.00 to $60.00 and set an "outperform" rating on the stock in a report on Monday, February 23rd. TD Cowen decreased their price objective on shares of HF Sinclair from $70.00 to $68.00 and set a "hold" rating on the stock in a report on Monday. Finally, Weiss Ratings reissued a "hold (c)" rating on shares of HF Sinclair in a report on Friday, March 27th. Two research analysts have rated the stock with a Strong Buy rating, six have given a Buy rating, six have issued a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat, the company currently has a consensus rating of "Moderate Buy" and an average price target of $64.45.

Key Stories Impacting HF Sinclair

Here are the key news stories impacting HF Sinclair this week:

• Positive Sentiment: Q1 results beat expectations — HF Sinclair reported $0.69 EPS (vs. consensus loss) and revenue of $7.12B, ahead of estimates; the print showed a swing from a year-ago loss and signaled improving profitability. HF Sinclair (DINO) Surpasses Q1 Earnings and Revenue Estimates
• Positive Sentiment: GAAP net income and dividend: BusinessWire shows net income attributable to shareholders of $648M (GAAP) and the company announced a regular cash dividend — both supportive for sentiment and income-focused investors. HF Sinclair Reports 2026 First Quarter Results and Announces Regular Cash Dividend
• Positive Sentiment: Surprise profit driven by higher refining margins — Reuters highlights that stronger refining margins powered the unexpected quarterly profit, a key operational positive for a downstream-focused refiner. HF Sinclair posts surprise quarterly profit on higher refining margins
• Neutral Sentiment: Conference call and transcript availability — the company’s call and transcripts provide management color on margins, refinery utilization and capital return plans; useful for assessing sustainability of the beat. HF Sinclair (DINO) Q1 2026 Earnings Transcript
• Neutral Sentiment: Analyst coverage and momentum narratives — Zacks and other outlets are highlighting momentum and the stock’s recent run, which can support flows but does not guarantee fundamentals will stay as strong. HF Sinclair (DINO) is a Great Momentum Stock: Should You Buy?
• Negative Sentiment: Valuation and pullback risk after a run — the stock is trading near its 52-week high, which raises the risk of profit-taking if margins or volumes soften; investors should watch margin sustainability and refinery throughput. HF Sinclair Corporation (DINO) Hits Fresh High: Is There Still Room to Run?

About HF Sinclair

HF Sinclair Corporation is a diversified energy manufacturing company engaged in the refining, marketing, and transportation of petroleum products across the United States. The company operates a network of refineries and processing facilities that convert crude oil and other feedstocks into fuels and specialty products. Its integrated model encompasses upstream supply agreements, midstream logistics, and downstream marketing channels, positioning HF Sinclair as a key supplier of refined products to wholesale and retail markets.

The company’s core product slate includes gasoline, diesel, jet fuel, and renewable fuels such as renewable diesel and biodiesel.

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