HF Sinclair Corporation (DINO) Earnings
HF Sinclair Corporation is expected to report next earnings on July 30, 2026 (in NaN days), with a consensus EPS estimate of $3.20. DINO has beaten EPS estimates in 11 of its last 12 reported quarters (average surprise +203.6% over the last four).
| Report date | EPS est | EPS actual | Surprise | Revenue | Rev. surprise |
|---|---|---|---|---|---|
| May 1, 2026 | $-0.15 | $0.69 | +560.0% | $7.1B | +4.4% |
| Feb 18, 2026 | $0.44 | $1.20 | +172.7% | $6.5B | +6.5% |
| Oct 30, 2025 | $1.94 | $2.44 | +25.8% | $7.3B | +15.6% |
| Jul 31, 2025 | $1.09 | $1.70 | +56.0% | $6.8B | -3.6% |
| May 1, 2025 | $-0.41 | $-0.27 | +34.1% | $6.4B | -8.9% |
| Feb 20, 2025 | $-0.91 | $-1.02 | -12.1% | $6.5B | -2.5% |
| Oct 31, 2024 | $0.29 | $0.51 | +75.9% | $7.2B | +8.0% |
| Aug 1, 2024 | $0.71 | $0.78 | +9.9% | $7.8B | +3.4% |
| Feb 21, 2024 | $0.67 | $0.87 | +29.9% | $7.7B | +1.2% |
| Nov 2, 2023 | $3.67 | $4.06 | +10.6% | $8.9B | +9.5% |
| Aug 3, 2023 | $2.25 | $2.60 | +15.6% | $7.8B | +7.6% |
| May 4, 2023 | $1.52 | $2.00 | +31.6% | $7.6B | +8.6% |
Source: company filings + earnings calendar. For informational purposes only — not investment advice.
Earnings call summary
Q1 FY2026 · May 1, 2026
AI summary of management’s prepared remarks and analyst Q&A. For informational purposes only — not investment advice.
Management highlights
Franklin Myers welcomed everyone and thanked employees. Mentioned CEO and CFO took leaves, board addressing future leadership. Steve Ledbetter discussed business highlights: refining completed turnarounds, pleased with reliability; marketing making progress with Green Trail Fuels JV, added 25 branded sites; renewable optimized business for strong financial performance; lubricant implemented pricing actions; returned $167 million to shareholders; advanced strategic projects. Vivek Garg reviewed financial highlights: net income $648 million, adjusted EBITDA $426 million, etc.
Guidance
Capital spending for 2026 unchanged. Second quarter of 2026 expected to run between 600 to 630,000 barrels per day of crude oil in refining segment, reflecting planned and unplanned maintenance activities.
Segment performance
Refining: First quarter adjusted EBITDA excluding inventory valuation adjustment benefit was $55 million vs negative $8 million in Q1 2025; crude charge averaged 613,000 bpd. Renewable: Adjusted EBITDA excluding inventory valuation adjustment benefit was $133 million vs negative $17 million in Q1 2025; total sales volumes 52 million gallons vs 44 million gallons in Q1 2025. Marketing: EBITDA was $28 million vs $27 million in Q1 2025; total branded fuel sales volume 325 million gallons vs 294 million gallons in Q1 2025. Lubricants and Specialities: Adjusted EBITDA was $103 million vs $85 million in Q1 2025; recognized FIFO benefit of $53 million vs $8 million in Q1 2025. Midstream: Adjusted EBITDA was $111 million vs $119 million in same period last year, decrease due to marginally higher operating costs from fuel contamination incident.
Risks & headwinds
Military conflict in the Middle East created disruption to crude oil and products markets, causing volatility. Also, marginally higher operating costs in midstream due to fuel contamination incident at a product terminal in Colorado.
Analyst Q&A
Q: About renewables results and second quarter utilization and margins;
A: Steve Ledbetter talked about drivers in Q1 and utilization outlook.
Q: About lubricants market and capturing higher margins;
A: Matt Joyce discussed lubricants market and pricing actions.
Q: About management shakeup and business strategy;
A: Steve Ledbetter and Franklin Myers addressed strategy and execution.
Q: About refining macro, crude availability, and Puget Sound asset;
A: Steve Ledbetter and Franklin Myers discussed crude supply and Puget Sound project.
Q: About Brent TI spread, WCS outlook, and management search;
A: Steve Ledbetter and Franklin Myers talked about spreads and board process.
Q: About demand trends, MidCon and Rockies balances;
A: Steve Ledbetter discussed demand and market balances.
Q: About Bridger pipeline expansion, NGL conversion, and capital returns;
A: Vivek Garg talked about pipeline and capital allocation.
Q: About RVO, product swings, and M&A;
A: Steve Ledbetter discussed RVO and product swings, and M&A approach