HF Sinclair Q1 2024 Earnings Report
Key Takeaways
HF Sinclair reported a net income of $314.7 million, or $1.57 per diluted share, for the first quarter of 2024. Adjusted net income was $142.3 million, or $0.71 per diluted share. The company returned $269.0 million to stockholders through dividends and share repurchases and authorized a new $1.0 billion share repurchase program.
Net income attributable to HF Sinclair stockholders was $314.7 million, or $1.57 per diluted share.
Adjusted net income was $142.3 million, or $0.71 per diluted share.
Returned $269.0 million to stockholders through dividends and share repurchases.
Authorized a new $1.0 billion share repurchase program.
HF Sinclair
HF Sinclair
HF Sinclair Revenue by Segment
Forward Guidance
HF Sinclair anticipates a favorable market environment heading into the summer driving season, positioning the company to generate strong earnings and cash flows.
Positive Outlook
- Favorable market environment expected during summer driving season.
- Well-positioned to generate strong earnings.
- Committed to shareholder returns through dividends and share repurchases.
- Businesses maintained safe and reliable operations.
- Successful turnaround and maintenance execution.
Challenges Ahead
- Seasonal demand weakness for transportation fuels impacted refinery gross margins.
- Weakened RINs and Low Carbon Fuel Standard prices affected the Renewables segment.
- Lower base oil prices decreased Lubricants & Specialties segment income.
- Decrease of $112.9 million over cash and cash equivalents.
- The company cannot assure you that the Company's expectations will prove to be correct.
Revenue & Expenses
Visualization of income flow from segment revenue to net income