HF Sinclair beats profit estimates as CEO Tim Go takes voluntary leave

HF Sinclair Corporation DINO reported fourth-quarter adjusted earnings of $1.20 per share, significantly beating the average analyst estimate of $0.45 per share as cited by LSEG. The results for the period ended December 31 were primarily driven by a rise in refining margins, marking a significant year-over-year improvement for the company within the US US market.

The HF Sinclair refining segment achieved an adjusted core profit of $403 million, swinging from a loss in the same period the previous year. This performance was bolstered by an adjusted refinery gross margin of $16.28 per barrel, up from $6.68 per barrel a year ago. Additionally, the company saw about a 45% increase in the 3-2-1 crack spread on average, reflecting broader trends in the U.S. refining / fuel sector.