HF Sinclair Q3 2026: Refining Margins Nearly Triple, Topping Expectations
As seen on the 24/7 Wall St. homepage on October 28, 2026.
Refining margins did the heavy lifting: adjusted refinery gross margin hit $54.22 per produced barrel sold versus $19.16 a year ago, carrying earnings past expectations for a fifth straight quarter.
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Adjusted refinery gross margin of $54.22 per produced barrel sold, up from $19.16 a year earlier, carried adjusted EPS past expectations for the fifth consecutive quarter.
Revenue of $10.86 billion came in ahead of consensus, and the Renewables segment swung from a loss a year ago to income this quarter on improved RINs pricing and higher Producer's Tax Credit benefits.
Operating income jumped 374% year over year, and the company returned $572 million to stockholders through repurchases and a regular quarterly dividend declared October 28.
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The Lubricants and Specialties separation into an independent publicly traded company is expected to be substantially completed over 2027, with stockholders receiving at least 80.1% of the new company's stock. Steve Ledbetter succeeds Franklin Myers as CEO effective January 1, 2027, with Myers staying on as executive chairperson.
The Western Gateway Pipeline joint venture with Phillips 66 and Kinder Morgan and the Green Trail Fuels retail venture extend the branded fuel footprint in Colorado, New Mexico, and Oklahoma. Branded fuel sales volumes rose to 420 million gallons from 360 million a year earlier.
Mentioned: DINO