Q2 2024 HF Sinclair Corp Earnings Call Transcript
Key Points
- HF Sinclair Corp (DINO) achieved higher utilization rates and lower operating costs per barrel in their refining business.
- The company returned $467 million in cash to shareholders and announced a $0.5 quarterly dividend.
- Positive EBITDA was achieved in the renewables segment despite market challenges.
- The Lubricants and Specialties segment showed strong performance driven by sales mix optimization and operational efficiencies.
- Record volumes were achieved in the Midstream segment, indicating successful integration post-acquisition.
- Adjusted net income for the second quarter was significantly lower at $149 million compared to $504 million in the same period in 2023.
- Refining segment EBITDA decreased to $187 million from $732 million in the second quarter of 2023 due to lower gross margins.
- The renewables segment, despite achieving positive EBITDA, still faces challenges with low LCFS credit prices and high-cost inventories.
- Operating expenses per throughput barrel, while improved, are still above the long-term target of $6.50.
- The company faces ongoing market volatility and supply issues, particularly in the distillate and diesel markets.
Please stand by for streaming text.
Welcome to H&E Corporation Second Quarter 2020 for a conference call and webcast. Hosting the call today is Tim Go, Chief Executive Officer of HF. Sinclair has joined via telephone as our Chief Financial Officer, Steve Ledbetter, EVP of Commercial battery pumper, EVP of Operations, and Matt joined as VP of lubricants in this space, royalties.
At this time, all participants have been placed in a listen only mode. There will be opened for your questions following the patient would like to ask a question. At that time, please press star one on your touch-tone phone. If at any point your question has been answered.
You may remove yourself from the queue by pressing the pound key. You should require operator assistance, please press star zero. We ask that you please limit yourself to one question and one follow up. Additionally, we ask that you pick up your handset to allow optimal sound quality. Please note that this conference is being recorded. It is now my pleasure to turn the floor over to Craig Perry,
| Access to All Earning Calls and Stock Analysis | |
| 30-Year Financial on one screen | |
| All-in-one Stock Screener with unlimited filters | |
| Customizable Stock Dashboard | |
| Real Time Insider Trading Transactions | |
| 8,000+ Institutional investors’ 13F holdings | |
| Powerful Excel Add-in and Google sheets Add-on | |
| All data downloadable | |
| Quick customer support | |
| And much more... |
Trustpilot
We'd love to learn more about your experiences on GuruFocus.com and how we can improve!
Take Survey
