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Mar 31, 2023

HF Sinclair Q1 2023 Earnings Report

HF Sinclair reported strong first quarter results, driven by higher refining margins and strategic acquisitions.

Key Takeaways

HF Sinclair reported a net income of $353.3 million, or $1.79 per diluted share, and adjusted net income of $394.1 million, or $2.00 per diluted share, for the first quarter of 2023. The company returned $333.6 million to shareholders through dividends and share repurchases. The refining segment was a key driver of the strong performance, with income before interest and income taxes increasing to $441.0 million.

Net income attributable to HF Sinclair stockholders was $353.3 million, or $1.79 per diluted share.

Adjusted net income was $394.1 million, or $2.00 per diluted share.

Adjusted EBITDA reached $704.8 million.

Returned $333.6 million to shareholders through dividends and share repurchases.

Total Revenue
$7.57B
Previous year: $7.46B
+1.4%
EPS
$2
Previous year: $0.99
+102.0%
Adjusted EBITDA
$705M
Previous year: $377M
+87.1%
Refinery Gross Margin
$23.7
Previous year: $12.7
+86.8%
Refinery Throughput (BPD)
498.5K
Previous year: 564.73K
-11.7%
Gross Profit
$1.24B
Previous year: $821M
+51.0%
Cash and Equivalents
$1.36B
Previous year: $592M
+130.5%
Free Cash Flow
$77.6M
Previous year: $317M
-75.5%
Total Assets
$18B
Previous year: $17.7B
+1.5%

HF Sinclair

HF Sinclair

HF Sinclair Revenue by Segment

Forward Guidance

The company did not provide specific forward guidance in the press release.

Revenue & Expenses

Visualization of income flow from segment revenue to net income