HF Sinclair reported sharply higher quarterly profit and announced its next chief executive on October 28, according to its SEC-furnished releases.
Net income attributable to shareholders reached $2.015 billion, or $11.38 per diluted share, for the quarter ended September 30. A year earlier, the company earned $403 million, or $2.15 per share. Adjusted earnings were $11.75 per share, compared with $2.44.
Refining income before interest and taxes increased to $2.435 billion from $476 million. HF Sinclair attributed the improvement principally to tight fuel supplies, wider refining spreads and benefits from EPA small-refinery renewable-fuel waivers.
Operating cash flow totaled $1.784 billion. The company returned $572 million to shareholders through dividends and repurchases and declared a quarterly dividend of 52.5 cents per share.
HF Sinclair also disclosed that its board appointed President and Chief Operating Officer Steve Ledbetter as CEO and president, effective January 1, 2027. Franklin Myers will remain CEO until the transition, then continue as executive chair while the company pursues its previously announced Lubricants & Specialties separation.
Adjusted earnings exclude specified items and supplement standard accounting results.
Sources: HF Sinclair SEC-furnished earnings and leadership releases, reproduced by StockTitan.