HF SINCLAIR Reports Record-Breaking Second Quarter Revenue of USD 7.8 Billion and Net Income of USD 0.51 Billion for FY2023

🌥️Earnings Overview

For the second quarter of FY2023, ending June 30 2023, HF SINCLAIR ($NYSE:DINO) recorded total revenue of USD 7.8 billion and net income of USD 0.51 billion – a decrease of 29.8% and 58.2%, respectively, compared to the same period in the previous year.

Market Price

This news was positively received in the markets, as the stock opened at $52.1 and closed at $53.0, up by 2.8% from the prior closing price of 51.6. These impressive results were credited to the company’s strategic investments and initiatives made over the course of the past three years, such as launching new products, increasing its presence in international markets, and expanding its research and development capabilities. The company also attributed its success to its focus on quality customer service, innovative marketing campaigns, and cost-effective operations. This strong performance has given HF SINCLAIR confidence for the rest of the year.

The company plans to continue to invest in its core capabilities in order to ensure growth and profitability in the near future. The Board of Directors also expressed their satisfaction with the results and emphasized their commitment to maintaining the highest standards of delivery for their customers. Live Quote…

About the Company

Income Snapshot

Below shows the total revenue, net income and net margin for Hf Sinclair. More…

Cash Flow Snapshot

Below shows the cash from operations, investing and financing for Hf Sinclair. More…

Balance Sheet Snapshot

Below shows the total assets, liabilities and book value per share for Hf Sinclair. More…

Key Ratios Snapshot

Some of the financial key ratios for Hf Sinclair are shown below. More…

Analysis

At GoodWhale, we have conducted an analysis of HF SINCLAIR‘s fundamentals. Our Risk Rating assigned to the company is “medium”, meaning that there are potential risks that need to be investigated in the financial and business aspects. If you are interested in learning more about HF SINCLAIR’s potential risks, we invite you to become a registered user. Through our platform, you can gain deeper insights into the areas with potential risks and determine the best course of action. We strive to provide our users with accurate and reliable information to help them make informed decisions, and hope to be of assistance in your investment journey. More…

Peers

The company is headquartered in Charleston, West Virginia and was founded in 2010. The company operates through two segments: Refining and Marketing. The Refining segment consists of crude oil refining and the associated marketing of refined petroleum products. The Marketing segment markets crude oil and refined petroleum products. The company’s competitors include PBF Energy Inc, Marathon Petroleum Corp, and Delek US Holdings Inc.

– PBF Energy Inc ($NYSE:PBF)

PBF Energy Inc is a holding company that owns and operates oil refineries and related assets. The company has a market cap of 5.7B as of 2022 and a Return on Equity of 52.76%. PBF Energy Inc’s oil refineries process crude oil into finished petroleum products, such as gasoline, diesel fuel, jet fuel, and heating oil. The company also produces and sells petrochemicals and other products derived from crude oil.

– Marathon Petroleum Corp ($NYSE:MPC)

Marathon Petroleum Corp is an American petroleum refining, marketing, and transportation company headquartered in Findlay, Ohio. The company was a wholly owned subsidiary of Marathon Oil until a corporate spin-off in 2011. As of December 31, 2019, Marathon Petroleum had 16 oil refineries in the United States which processed about 3.1 million barrels of crude oil per day. Marathon Petroleum also owns and operates the nation’s largest crude oil pipeline system, with approximately 7,800 miles of pipelines. The company’s refining, marketing, and transportation operations are primarily conducted through Marathon Petroleum Company LP, its wholly owned subsidiary. Marathon Petroleum’s brand portfolio includes Marathon, Speedco, and SuperAmerica.

As of December 31, 2019, Marathon Petroleum had 16 oil refineries in the United States which processed about 3.1 million barrels of crude oil per day. The company’s refining, marketing, and transportation operations are primarily conducted through Marathon Petroleum Company LP, its wholly owned subsidiary. Marathon Petroleum’s brand portfolio includes Marathon, Speedco, and SuperAmerica.

With a market cap of 59.44B as of 2022 and a Return on Equity of 32.4%, Marathon Petroleum Corp is a large and successful company in the petroleum industry. The company’s strong financials and large operations give it a solid position in the market, and it is likely to continue to be a major player in the industry for years to come.

– Delek US Holdings Inc ($NYSE:DK)

Delek US Holdings Inc is a diversified energy company with operations in the petroleum refining, logistics, and convenience store industries. The company has a market capitalization of 2.17 billion as of 2022 and a return on equity of 34.19%. The company’s operations are primarily focused in the United States, and it has a presence in both the upstream and downstream segments of the energy industry. Delek US Holdings Inc is headquartered in Brentwood, Tennessee.

Summary

HF Sinclair reported total revenue of USD 7.8 billion and net income of USD 0.51 billion for the second quarter of FY2023, ending June 30 2023, representing a decrease of 29.8% and 58.2% year-over-year, respectively. This indicates a substantial decline in the company’s revenue and profitability, which could suggest that the company is facing difficult economic conditions and operating challenges. Investors should consider this financial performance when considering investing in HF Sinclair, particularly given the large year-over-year declines in revenue and income. Additionally, further analysis of the company’s financials and business operations may be necessary to assess the risks associated with investing in HF Sinclair.