HF Sinclair Earnings Soar on Refining Strength

HF Sinclair Corporation reported sharp increases in second-quarter earnings due to strong refining margins and higher throughput across its business segments. The company's net income attributable to shareholders totaled $892 million, or $4.93 per diluted share.

The refining results were attributed to strong refining margins and volumes in the Mid-Continent and West regions, supported by steady demand, tight supply, and favorable crack spreads. Crude oil charge averaged approximately 640,000 barrels per day during the quarter, exceeding the company's guidance range and up from 616,000 barrels per day a year earlier.

HF Sinclair expects refining crude oil runs of 590,000 to 620,000 barrels per day for the third quarter, reflecting a planned turnaround at its El Dorado refinery. The company also plans to separate its Lubricants and Specialties business into an independent public company over the next 12 to 18 months.