HF Sinclair Corporation DINO stock is trading higher on Thursday after it reported mixed first-quarter 2025 results.
The company suffered an adjusted net loss of $50 million, or 27 cents per share. That’s above the Wall Street expectation of a 44-cent loss.
First-quarter revenue declined 9.4% year-over-year to $6.37 billion, below the consensus of $6.67 billion.
Adjusted EBITDA fell 49.6% YoY to $201 million in the quarter; the margin declined by 252 bps to 3.2%.
Refining segment revenue fell 8.9% YoY to $5.621 billion; Adjusted EBITDA fell to a loss of $8 million from $209 million, driven by lower margins and volumes.
Adjusted refinery gross margins dropped 28% to $9.12/bbl, with crude runs steady at ~606,000 BPD (vs. 604,930 BPD).
The Renewables segment posted a $39 million loss in the quarter, flat year-over-year; adjusted EBITDA was $(17) million. Sales volumes were down to 44 million gallons from 61 million, impacted by tax credit uncertainty.
Lubricants & Specialties posted income of $63 million vs. $65 million last year, with EBITDA at $85 million vs. $87 million, aided by an $8 million FIFO benefit.
Midstream segment income was $63 million, down from $92 million, while adjusted EBITDA rose to $119 million from $110 million, boosted by higher pipeline revenues.
Net cash used for operations was $89 million in the quarter; cash fell to $547 million from $800 million, with $95 million paid in dividends and debt at $2.68 billion.
Dividend: HF Sinclair declared a dividend of 50 cents per share, payable on June 3, 2025, to holders of record of common stock on May 15, 2025.
HF Sinclair CEO Tim Go noted “strong results” in marketing, midstream, and lubricants businesses. The firm also saw sequential improvement in refining, despite the market headwinds and uncertainty caused by tariffs, he added.
Price Action: HF Sinclair shares traded higher by 5.42% at $31.70 at last check on Thursday.
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