UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 _________________________________________________________________ FORM 10-K _________________________________________________________________ (Mark One) ☒ ANNUAL REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the Fiscal Year Ended December 31, 2024 or ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the transition period from _____________ to ______________ ...

HF Sinclair Corporation (NYSE:DINO) Q4 2024 Earnings Call February 20, 2025 8:30 AM ET Company Participants Craig Biery - Vice President, Investor Relations Tim Go - Chief Executive Officer Atanas Atanasov - Chief Financial Officer Steve Ledbetter - Executive Vice President, Commercial Valerie Pompa - Executive Vice President, Operations Matt Joyce - Senior Vice President, Lubricants and Specialties Conference Call Participants Manav Gupta - UBS Ryan Todd - Piper Sandler Paul Cheng - Scotiabank Neil Mehta - ...

HF Sinclair (DINO) came out with a quarterly loss of $1.02 per share versus the Zacks Consensus Estimate of a loss of $0.91. This compares to earnings of $0.87 per share a year ago. These figures are adjusted for non-recurring items.This quarterly report represents an earnings surprise of -12.09%. A quarter ago, it was expected that this independent energy company would post earnings of $0.29 per share when it actually produced earnings of $0.51, delivering a surprise of 75.86%.Over the last four quarters, ...

Financial Performance - Reported net loss attributable to HF Sinclair stockholders of $214 million, or $(1.14) per diluted share, for Q4 2024, compared to a net loss of $62 million, or $(0.34) per diluted share, for Q4 2023[3] - Adjusted net loss for Q4 2024 was $191 million, or $(1.02) per diluted share, compared to adjusted net income of $165 million, or $0.87 per diluted share, for Q4 2023[3] - Net loss attributable to HF Sinclair stockholders for the three months ended December 31, 2024, was $214 million, an increase of $152 million or 245% compared to a net loss of $62 million in 2023[17] - Net income attributable to HF Sinclair stockholders for the year ended December 31, 2024, was $177 million, a decrease of $1,413 million or 89% compared to $1,590 million in 2023[18] - The company reported a net income attributable to HF Sinclair stockholders of $177 million for the year ended December 31, 2024, compared to $1,590 million in 2023, a decrease of 88.89%[55] Revenue and Sales - Sales and other revenues for the three months ended December 31, 2024, were $6,500 million, a decrease of $1,160 million or 15% compared to $7,660 million in 2023[17] - Revenues from external customers for Q4 2024 were $6,500 million, a decrease from $7,660 million in Q4 2023, representing a decline of 15.1%[28] - Revenues from external customers for the year ended December 31, 2024, totaled $28,580 million, a decrease from $31,964 million in 2023, representing a decline of approximately 10.5%[29] - Refining segment sales and other revenues decreased to $5,776 million in Q4 2024 from $6,863 million in Q4 2023, representing a decline of 15.8%[64] - Marketing segment sales and other revenues decreased to $760 million in Q4 2024 from $909 million in Q4 2023, a decline of 16.4%[70] Costs and Expenses - Total operating costs and expenses for the three months ended December 31, 2024, were $6,725 million, a decrease of $1,013 million or 13% compared to $7,738 million in 2023[17] - The cost of materials and other for Q4 2024 was $5,747 million, compared to $6,471 million in Q4 2023, indicating a reduction of 11.2%[28] - Operating expenses for Q4 2024 totaled $656 million, up from $629 million in Q4 2023, reflecting an increase of 4.3%[28] - The cost of sales for 2024 was $27,023 million, compared to $28,493 million in 2023, indicating a reduction of about 5.2%[29] EBITDA and Margins - Reported EBITDA of $9 million and adjusted EBITDA of $28 million for Q4 2024[4] - Adjusted refinery gross margin was $6.68 per produced barrel sold, a 51% decrease compared to $13.58 for Q4 2023[5] - Adjusted refinery gross margin for 2024 was $8.21, compared to $17.31 in 2023, showing a decrease of approximately 52.6%[33] - Adjusted refinery gross margin for Q4 2024 was $366 million, down 55.5% from $822 million in Q4 2023[64] - Adjusted EBITDA for the year ended December 31, 2024, was $1,149 million, compared to $3,208 million in 2023, reflecting a decrease of 64.2%[55] Shareholder Returns - Returned over $1 billion in cash to shareholders through share repurchases and dividends during 2024[4] - Announced a regular quarterly dividend of $0.50 per share, payable on March 20, 2025[11] - Cash dividends declared per common share increased to $2.00 in 2024, up from $1.80 in 2023, representing an increase of 11%[18] Segment Performance - Midstream segment income before interest and income taxes was $97 million for Q4 2024, compared to $87 million for Q4 2023[9] - The Renewables segment experienced a loss before interest and income taxes of $91 million for the year ended December 31, 2024, compared to a loss of $133 million in 2023[59] - The Marketing segment's EBITDA increased to $75 million for the year ended December 31, 2024, up from $61 million in 2023, representing a growth of 22.95%[60] - The Lubricants & Specialties segment achieved an Adjusted EBITDA of $70 million for the three months ended December 31, 2024, compared to $57 million in the same period of 2023, an increase of 22.8%[61] Cash and Liquidity - Cash and cash equivalents totaled $800 million at December 31, 2024, a decrease of $554 million compared to $1,354 million at December 31, 2023[10] - Total assets as of December 31, 2024, were $16,643 million, a decrease of $1,073 million or 6% compared to $17,716 million in 2023[20] - Total debt as of December 31, 2024, was $2,638 million, a slight decrease from $2,739 million in 2023[20] Operational Metrics - Refining segment loss before interest and income taxes was $332 million for Q4 2024, compared to a loss of $75 million for Q4 2023[5] - The refinery utilization rate for Q4 2024 was 84.2%, down from 99.8% in Q4 2023, indicating a decline of about 15.6%[33] - Crude charge for the consolidated segment decreased to 562,020 BPD in Q4 2024 from 614,160 BPD in Q4 2023, representing a decline of 8.5%[35] - Refinery throughput for the consolidated segment was 603,700 BPD in Q4 2024, down from 664,390 BPD in Q4 2023, a decrease of 9.1%[35] Taxation - The effective tax rate for GAAP financial statements for the year ended December 31, 2024, was 15.6%, down from 20.5% in 2023[76] - The adjusted effective tax rate for the three months ended December 31, 2024, was 10.4%, compared to 14.7% for the same period in 2023[76] - The GAAP income tax expense for the year ended December 31, 2024, was $34 million, compared to $442 million in 2023[76]

The upcoming report from HF Sinclair (DINO) is expected to reveal quarterly loss of $0.91 per share, indicating a decline of 204.6% compared to the year-ago period. Analysts forecast revenues of $6.94 billion, representing a decrease of 9.4% year over year.The consensus EPS estimate for the quarter has remained unchanged over the last 30 days. This reflects how the analysts covering the stock have collectively reevaluated their initial estimates during this timeframe.Ahead of a company's earnings disclosure ...

Analysts on Wall Street project that HF Sinclair (DINO) will announce quarterly loss of $0.91 per share in its forthcoming report, representing a decline of 204.6% year over year. Revenues are projected to reach $6.94 billion, declining 9.4% from the same quarter last year.Over the past 30 days, the consensus EPS estimate for the quarter has been adjusted downward by 62.5% to its current level. This demonstrates the covering analysts' collective reassessment of their initial projections during this period.P ...

DALLAS, Jan. 24, 2025 /PRNewswire/ -- HF Sinclair Corporation (NYSE: DINO) (the "Corporation") today announced the pricing terms for the previously announced cash tender offer (the "Tender Offer") to purchase the outstanding notes (collectively, the "Notes" and each a "Series" of Notes) listed in the table below. All other terms and conditions of the Tender Offer remain unchanged and are described in the Offer to Purchase dated January 8, 2025, as amended on January 8, 2025 (the "Offer to Purchase"). The Fi ...

DALLAS, Jan. 23, 2025 /PRNewswire/ -- HF Sinclair Corporation (NYSE: DINO) (the "Corporation") today announced the early results of the previously announced cash tender offer (the "Tender Offer") to purchase the outstanding notes listed in the table below (collectively, the "Notes" and each a "Series" of Notes). All terms and conditions of the Tender Offer remain unchanged and are described in the Offer to Purchase dated January 8, 2025, as amended on January 8, 2025 (the "Offer to Purchase"). The Financing ...

DALLAS, Jan. 8, 2025 /PRNewswire/ -- HF Sinclair Corporation (NYSE: DINO) (the "Corporation") today announced that it is increasing the aggregate purchase price (the "Maximum Aggregate Purchase Price") of its previously announced cash tender offer (the "Tender Offer") to up to $1.05 billion (excluding accrued interest), from the previously announced Maximum Aggregate Purchase Price of $900.0 million.  The Tender Offer is for the outstanding notes listed in the table below (collectively, the "Notes" and each ...

Tender Offer Details - HF Sinclair Corporation has commenced a cash tender offer to purchase outstanding notes for an aggregate purchase price of up to $900 million, excluding accrued interest [1] - The tender offer prioritizes the purchase of notes in the order specified, with a cap on the 2027 Notes set at $150 million [1][2] - The total consideration for each $1,000 principal amount of notes tendered before the Early Tender Deadline includes a $30 premium and is calculated based on the yield of the applicable U S Treasury Security plus a fixed spread [10] Acceptance Priority and Settlement - Notes will be accepted based on their Acceptance Priority Level, with Level 1 being the highest priority and Level 3 the lowest [4] - The Early Tender Deadline is January 23, 2025, and the Expiration Date is February 7, 2025, unless extended [9] - The Early Settlement Date is expected to be January 28, 2025, and the Final Settlement Date is expected to be February 11, 2025 [11] Conditions and Flexibility - The tender offer is subject to conditions, including the receipt of sufficient proceeds from a concurrent public offering of senior debt securities [7] - The company reserves the right to modify the Maximum Aggregate Purchase Price and the 2027 Notes Tender Cap at any time [8] - The company may purchase additional notes in the open market or through other means in the future, which could affect the price of remaining notes [15] Company Overview - HF Sinclair Corporation is an independent energy company headquartered in Dallas, Texas, producing and marketing high-value light products such as gasoline, diesel fuel, and renewable diesel [19] - The company operates refineries in multiple states and markets its products primarily in the Southwest U S , the Rocky Mountains, and the Pacific Northwest [19] - HF Sinclair also produces renewable diesel at facilities in Wyoming and New Mexico and markets specialized lubricants globally [19]