Jun 2026 (Q2 FY26) — Jul 28, 2026
HF Sinclair Q2 FY26 — Strong Refining Performance and Lubes Business Spin-off
Read the full callHF Sinclair (DINO) earnings
- Jun 2026
- Jun 2026 (Q2 FY26)
- Dec 2025
HF Sinclair earnings: last reported Tue, 28 Jul 2026, for the quarter ended Jun 2026.
Reported
The figures, each with its period
Each figure keeps its basis and period; nothing is filled in.
| Metric | Value | Change | Basis | Period | Note |
|---|---|---|---|---|---|
| Revenue | 10,390 | +53.2% YoY | Quarterly, as filed | Quarter to Jun 2026 | Revenue from operations as filed. |
| Operating margin | 11.2 | +7.2 pts YoY | Operating profit / revenue | Quarter to Jun 2026 | For the quarter; a change is in percentage points. |
| Net profit | 892 | +328.8% YoY | Quarterly, as filed | Quarter to Jun 2026 | Profit after tax as filed. |
Guidance
What management said, and what became of it
15 of 17 judged targets kept · 19 open · verdicts reflect calls analysed to Jun 2026.
| Target | Original wording | Said | Latest call | Verdict |
|---|---|---|---|---|
| Lubricants & Specialties price recovery actions to offset feedstock cost inflation | continue pursuing additional price recovery actions through the second quarter | Mar 2026 | we took multiple pricing actions throughout the quarter | Achieved |
| Final investment decision on PADD 4/PADD 5 midstream expansion Phase 1 | FID by midyear 2026 | Sep 2025 | We're still advancing towards taking FID on Phase 1 this year. | Missed |
| PADD 4/PADD 5 midstream expansion Phase 1 in service (35,000 bpd into Nevada) | online in 2028 | Sep 2025 | We expect that the first phase would increase capacity by approximately 35,000 barrels per day to move supply from Rockies production into Nevada and is targeted to be online in 2029. | Delayed |
2 of HF Sinclair Corp's 36 targets were missed. See which ones, and which are quietly gone. The 3 above are the free sample; 33 more targets are in the full ledger.
Claimed
- Adjusted net income increased to $960 million ($5.31 per diluted share) from $322 million ($1.70 per diluted share) in Q2 2025.
- Refining segment adjusted EBITDA reached $1 billion, up from $476 million in Q2 2025, driven by strong margins and volumes.
- Crude oil charge averaged 640,000 barrels per day, exceeding guidance and reflecting operational improvements.
- Renewables segment reported $123 million in adjusted EBITDA, a significant increase from a $2 million loss in Q2 2025.
- Returned $265 million to shareholders in Q2, including $89 million in dividends and $179 million in share repurchases.
Qualified
- The Mississauga base oil refining assets will be retired due to location, size, and scope, impacting long-term economic contributions.
- Uncertainty around RINs/SREs relief, with the RIN bank projected to go negative or slightly balanced by year-end.
- Higher-cost inventories for the Lubricants and Specialties business are expected to be managed through in Q3.
Price
$124.7 −2.34% · −$2.99
Performance +137.3% 1Y
1Y: $52.55 on 14 Oct 2025 → $124.7. High $128.23 (13 Oct 2026), low $45.88 (26 Dec 2025).
- Previous close
- $127.69
- 52-week range
- $45.88 – $128.23
- One year
- +139.72%
Overview
- Symbol
- DINO
- Sector
- Energy
- Exchange
- US
- Currency
- USD
Guidance
What management said, and what became of it
15 of 17 judged targets kept · 19 open · verdicts reflect calls analysed to Jun 2026.
| Target | Original wording | Said | Latest call | Verdict |
|---|---|---|---|---|
| Lubricants & Specialties price recovery actions to offset feedstock cost inflation | continue pursuing additional price recovery actions through the second quarter | Mar 2026 | we took multiple pricing actions throughout the quarter | Achieved |
| Final investment decision on PADD 4/PADD 5 midstream expansion Phase 1 | FID by midyear 2026 | Sep 2025 | We're still advancing towards taking FID on Phase 1 this year. | Missed |
| PADD 4/PADD 5 midstream expansion Phase 1 in service (35,000 bpd into Nevada) | online in 2028 | Sep 2025 | We expect that the first phase would increase capacity by approximately 35,000 barrels per day to move supply from Rockies production into Nevada and is targeted to be online in 2029. | Delayed |
Claimed
- Adjusted net income increased to $960 million ($5.31 per diluted share) from $322 million ($1.70 per diluted share) in Q2 2025.
- Refining segment adjusted EBITDA reached $1 billion, up from $476 million in Q2 2025, driven by strong margins and volumes.
- Crude oil charge averaged 640,000 barrels per day, exceeding guidance and reflecting operational improvements.
- Renewables segment reported $123 million in adjusted EBITDA, a significant increase from a $2 million loss in Q2 2025.
- Returned $265 million to shareholders in Q2, including $89 million in dividends and $179 million in share repurchases.
Qualified
- The Mississauga base oil refining assets will be retired due to location, size, and scope, impacting long-term economic contributions.
- Uncertainty around RINs/SREs relief, with the RIN bank projected to go negative or slightly balanced by year-end.
- Higher-cost inventories for the Lubricants and Specialties business are expected to be managed through in Q3.
The full ledger
Open HF Sinclair Corp’s full ledger
A free account opens 5 company ledgers a month. All 36 tracked commitments, with each call’s wording and source.
Call summaries
Mar 2026 (Q1 FY26) — May 1, 2026
HF Sinclair Q1 FY26 — Strong Operational Performance and Shareholder Returns
Read the full callEvery analysed call
HF Sinclair earnings calls (DINO)
Financials
What the filings say
Net profit, year on year: +329% (quarter to jun 2026 against jun 2025).
| Line item | Sep 2024 | Dec 2024 | Mar 2025 | Jun 2025 | Sep 2025 | Dec 2025 | Mar 2026 | Jun 2026 |
|---|---|---|---|---|---|---|---|---|
| Sales | 7,207 | 6,500 | 6,370 | 6,784 | 7,251 | 6,464 | 7,123 | 10,390 |
| Operating profit | -121 | -226 | 81 | 275 | 564 | 7 | 847 | 1,168 |
| Operating margin | −1.7% | −3.5% | 1.3% | 4.0% | 7.8% | 0.1% | 11.9% | 11.2% |
| Other income | -10 | -4 | -82 | -29 | -36 | -48 | -8 | 4 |
| Interest | 40 | 39 | 49 | 53 | 51 | 64 | 41 | 20 |
| Profit before tax | -131 | -230 | -1 | 246 | 528 | -41 | 839 | 1,172 |
| Tax rate | 43.5% | 7.9% | −100.0% | 14.6% | 23.3% | 34.1% | 22.5% | 23.8% |
| Net profit | -76 | -214 | -4 | 208 | 403 | -28 | 648 | 892 |
| EPS ($ per share) | -0.40 | — | -0.02 | 1.10 | 2.15 | — | 3.56 | 4.93 |
| Line item | Dec 2020 | Dec 2021 | Dec 2022 | Dec 2023 | Dec 2024 | Dec 2025 |
|---|---|---|---|---|---|---|
| Equity capital | — | 3 | 2 | 2 | 2 | 2 |
| Reserves | — | 4,414 | 4,130 | 5,379 | 5,170 | 5,373 |
| Total liabilities | — | 6,622 | 8,107 | 7,479 | 7,297 | 7,261 |
| Fixed assets | — | 5,415 | 6,689 | 6,627 | 6,558 | 6,533 |
| Total assets | — | 12,917 | 18,125 | 17,716 | 16,643 | 16,510 |
| Line item | Dec 2020 | Dec 2021 | Dec 2022 | Dec 2023 | Dec 2024 | Dec 2025 |
|---|---|---|---|---|---|---|
| Cash from operations | 458 | 407 | 3,777 | 2,297 | 1,110 | 1,315 |
| Cash from investing | -330 | -1,327 | -774 | -371 | -468 | -516 |
| Cash from financing | 353 | -212 | -1,561 | -2,244 | -1,182 | -631 |
| Net cash flow | 483 | -1,134 | 1,431 | -311 | -554 | 178 |
| Capital expenditure | -271 | -725 | -524 | -385 | -470 | -449 |
| Free cash flow | 187 | -318 | 3,253 | 1,912 | 640 | 866 |
DINO revenue by segment
| Segment | Q3 FY2024 | Q4 FY2024 | Q1 FY2025 | Q2 FY2025 | Q3 FY2025 | Q4 FY2025 | Q1 FY2026 | Q2 FY2026 | YoY growth latest quarter |
|---|---|---|---|---|---|---|---|---|---|
| Refining | 75% | 76% | 77% | 76% | 76% | 77% | 76% | 75% | +50.2% |
| Marketing | 13% | — | 11% | 12% | 12% | 11% | 11% | 13% | +65.9% |
| Lubricants and Specialties | 9% | 9% | 10% | 9% | 9% | 9% | 9% | 10% | +55.7% |
| Renewables | 2% | 2% | 1% | 2% | 2% | 3% | 3% | 2% | +85.5% |
| Midstream | <1% | <1% | <1% | <1% | <1% | 1% | <1% | <1% | +14.3% |
Share of consolidated revenue by quarter. Q4 is the fiscal year less its first three quarters.
See how segments are shifting across companies → Segment Shift
DINO operating KPIs by quarter
| KPI | Mar 2026 Q1 FY26 | Jun 2026 Q2 FY26 | Change vs prior quarter |
|---|---|---|---|
| Turnaround spend | $119MNet cash provided by operations totaled $457 million in the first quarter, which included $119 million of turnaround spend.Source: earnings call transcript | $56MNet cash provided by operations totaled $1.5 billion in the second quarter, which includes $56 million of turnaround spend.Source: earnings call transcript | -52.9% |
Operating figures the company stated on at least two of the calls shown, checked against each call's transcript. Click a figure to read the sentence. A dash means it was not stated that quarter.
Revenue by region
Q2 FY2026 · share of revenue
- US Mid Continent Region 32% ↑ 2 pt
- US Rocky Mountains Region 22% ↓ 5 pt
- Northwest Region 18%
- Southwest Region 14% ↑ 1 pt
- CA 4%
- Northeast Region 3%
- Other Non US Or Canada 1%
As DINO cuts its regions in its filings; they can nest, so they need not add to 100%.
Insider filings
50 filings between Nov 3, 2025 and Sep 17, 2026.
Open market
decisions to buy or sellPurchases
$2.42M
3 purchases by 2 insiders
Sales
$1.73M
6 sales by 5 insiders
Compensation
not trading decisions- 27
- Award — granted as compensation
- 9
- Tax withheld — shares kept back by the company to cover tax
Also filed: 4 dispositions to the issuer, 1 gift.
Who traded
open market only| Insider | Bought | Sold | Last filing |
|---|---|---|---|
| MYERS FRANKLIN | $2.32M | — | Aug 11, 2026 |
| Kunneman Dale | — | $755.9K | Aug 5, 2026 |
| Pompa Valerie | — | $690.5K | May 15, 2026 |
| Joyce Matthew | — | $166.2K | May 26, 2026 |
| Hardy Rhoman J | $100.0K | — | Jun 16, 2026 |
| Garg Vivek | — | $68.3K | May 19, 2026 |
| Fernandez Manuel J | — | $46.4K | Jun 2, 2026 |
Latest filings (50)
| Date | Insider | What | Shares | Value |
|---|---|---|---|---|
| Sep 17, 2026 | MYERS FRANKLIN CEO | Award | 922 | $0 |
| Aug 17, 2026 | MYERS FRANKLIN CEO | Award | 1,121 | $0 |
| Aug 11, 2026 | MYERS FRANKLIN CEO | Purchase | 15,000 | $1.28M |
| Aug 5, 2026 | Kunneman Dale SVP and CHRO | Sale | 8,936 | $755.9K |
| Aug 2, 2026 | REH Advisors Inc. Director | Disposition to issuer | 2,375,000 | $212.35M |
| Jul 17, 2026 | MYERS FRANKLIN CEO | Award | 1,210 | $0 |
| Jun 17, 2026 | MYERS FRANKLIN CEO and President | Award | 1,578 | $0 |
| Jun 16, 2026 | Hardy Rhoman J Director | Purchase | 1,508 | $100.0K |
| Jun 2, 2026 | Fernandez Manuel J Director | Sale | 635 | $46.4K |
| May 26, 2026 | Joyce Matthew SVP, Lubricants & Specialties | Sale | 2,384 | $166.2K |
| May 19, 2026 | Garg Vivek Acting CFO, VP, CAO & CONTR | Sale | 717 | $51.5K |
| May 18, 2026 | ECHOLS LELDON E Director | Gift | 3,772 | $0 |
| May 18, 2026 | REH Advisors Inc. Director | Disposition to issuer | 1,455,180 | $100.00M |
| May 18, 2026 | MYERS FRANKLIN CEO and President | Purchase | 15,000 | $1.04M |
| May 18, 2026 | MYERS FRANKLIN CEO and President | Award | 1,500 | $0 |
| May 15, 2026 | Pompa Valerie EVP, Operations | Sale | 10,000 | $690.5K |
| Apr 17, 2026 | MYERS FRANKLIN CEO and President | Award | 1,747 | $0 |
| Mar 25, 2026 | MYERS FRANKLIN CEO and President | Award | 1,798 | $0 |
| Mar 2, 2026 | Garg Vivek Acting CFO, VP, CAO & CONTR | Award | 6,970 | $0 |
| Dec 1, 2025 | Pompa Valerie EVP, Operations | Award | 3,193 | $0 |
| Dec 1, 2025 | Atanasov Atanas H EVP and CFO | Tax withheld | 3,142 | $166.6K |
| Dec 1, 2025 | Go Timothy CEO and President | Award | 37,783 | $0 |
| Dec 1, 2025 | Go Timothy CEO and President | Tax withheld | 14,868 | $788.3K |
| Dec 1, 2025 | Go Timothy CEO and President | Tax withheld | 26,277 | $1.39M |
| Dec 1, 2025 | Garg Vivek VP, CAO and Controller | Tax withheld | 691 | $36.6K |
| Dec 1, 2025 | Nitcher Eric L EVP, General Counsel | Tax withheld | 4,885 | $259.0K |
| Dec 1, 2025 | Ledbetter Steven EVP, Commercial | Tax withheld | 3,779 | $200.4K |
| Dec 1, 2025 | Pompa Valerie EVP, Operations | Tax withheld | 1,257 | $66.6K |
| Dec 1, 2025 | Pompa Valerie EVP, Operations | Tax withheld | 5,880 | $311.8K |
| Dec 1, 2025 | Atanasov Atanas H EVP and CFO | Award | 7,983 | $0 |
| Dec 1, 2025 | Atanasov Atanas H EVP and CFO | Tax withheld | 8,916 | $472.7K |
| Nov 18, 2025 | REH Advisors Inc. Director | Disposition to issuer | 437,238 | $24.00M |
| Nov 12, 2025 | Knocke R Craig Director | Award | 2,943 | $0 |
| Nov 12, 2025 | Matthews Ross B Director | Award | 2,943 | $0 |
| Nov 12, 2025 | Fernandez Manuel J Director | Award | 2,943 | $0 |
| Nov 12, 2025 | Kostelnik Robert J. Director | Award | 2,943 | $0 |
| Nov 12, 2025 | Johns Jeanne M. Director | Award | 2,943 | $0 |
| Nov 12, 2025 | ECHOLS LELDON E Director | Award | 2,943 | $0 |
| Nov 12, 2025 | Hardy Rhoman J Director | Award | 2,943 | $0 |
| Nov 12, 2025 | Catalano Anna C Director | Award | 2,943 | $0 |
| Nov 12, 2025 | MYERS FRANKLIN Director | Award | 2,943 | $0 |
| Nov 12, 2025 | Ainsworth Anne-Marie Director | Award | 2,943 | $0 |
| Nov 11, 2025 | Go Timothy CEO and President | Award | 63,615 | $0 |
| Nov 11, 2025 | Nitcher Eric L EVP, General Counsel | Award | 15,906 | $0 |
| Nov 11, 2025 | Atanasov Atanas H EVP and CFO | Award | 24,084 | $0 |
| Nov 11, 2025 | Pompa Valerie EVP, Operations | Award | 17,451 | $0 |
| Nov 11, 2025 | Ledbetter Steven EVP, Commercial | Award | 14,178 | $0 |
| Nov 11, 2025 | Garg Vivek VP, CAO and Controller | Award | 2,304 | $0 |
| Nov 5, 2025 | Garg Vivek VP, CAO and Controller | Sale | 314 | $16.7K |
| Nov 3, 2025 | REH Advisors Inc. Director | Disposition to issuer | 960,061 | $50.00M |
Source: SEC Form 4 filings. Form 4 reports transactions, not the cap table — absence of filings says nothing about how much an insider owns, and a quiet window is not a signal.
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