HF Sinclair Reports Q2 2025 Financial Results with $208 Million Net Income

HF Sinclair Corporation reported its financial results for the second quarter of 2025, revealing a net income attributable to stockholders of $208 million, or $1.10 per share, compared to $152 million, or $0.79 per share, in the same period last year. For the first half of 2025, net income was $204 million, a significant decrease from $466 million in the prior year. The decline in profitability for the six-month period was primarily attributed to lower inventory valuation adjustments, which negatively impacted pre-tax earnings by $31 million in 2025, contrasting with a benefit of $223 million in 2024. Total revenues for the second quarter decreased by 14% to $6.784 billion, down from $7.846 billion, driven by lower refined product sales prices and volumes.

Operationally, HF Sinclair's refining segment saw improved margins leading into the summer driving season, particularly in the Mid-Continent and West regions. The company reported an adjusted refinery gross margin of $16.50 per produced barrel sold for the second quarter, up from $11.33 in the prior year. This increase was supported by lower crude oil and feedstock prices, although average sales prices per barrel also declined. The company anticipates running between 615,000 to 645,000 barrels per day of crude oil in the third quarter, reflecting planned turnarounds at its facilities.

In terms of strategic developments, HF Sinclair has been actively expanding its branded fuel network, adding 55 net new branded sites during the second quarter, bringing the total to 1,719. The company also initiated a $1.0 billion share repurchase program in May 2024, with $749 million remaining for future repurchases as of June 30, 2025. Additionally, the company declared a quarterly dividend of $0.50 per share, payable on September 4, 2025.

On the operational front, HF Sinclair's total assets increased to $16.843 billion as of June 30, 2025, up from $16.643 billion at the end of 2024. The company maintained a strong liquidity position with cash and cash equivalents of $874 million and $2.0 billion available under its new $2.0 billion senior unsecured revolving credit facility, which was established in April 2025. The company reported a total debt of $2.677 billion, slightly up from $2.638 billion at the end of 2024.

Looking ahead, HF Sinclair expects to capture additional value from the Producer’s Tax Credit in its Renewables segment and continues to adjust its operational plans in response to evolving market conditions. The company remains focused on optimizing existing operations and selectively acquiring complementary assets to enhance earnings and cash flow.