HF Sinclair Corporation reported significant financial improvements in its latest quarterly results, with net income attributable to stockholders reaching $648 million for the three months ended March 31, 2026, compared to a net loss of $4 million during the same period in 2025. This turnaround was driven by a 12% increase in sales and other revenues, which rose to $7.123 billion from $6.370 billion, primarily due to higher average refined product sales prices and increased sales volumes. The adjusted refinery gross margin per barrel sold also improved, rising by 9% to $9.95 from $9.12 in the previous year.
The company experienced notable changes in its operational metrics, with total assets increasing to $18.172 billion as of March 31, 2026, up from $16.510 billion at the end of 2025. Cash and cash equivalents also saw a rise, reaching $1.148 billion compared to $978 million at the end of the previous fiscal year. Additionally, HF Sinclair's employee headcount remained stable, with no significant changes reported in staffing levels.
Strategically, HF Sinclair made a key acquisition in January 2026, purchasing Industrial Oils Unlimited for $38 million. This acquisition is expected to enhance the company's specialty product offerings and support future growth opportunities. The company also formed a joint venture, Green Trail Fuels, LLC, in February 2026, which includes various retail sites across Colorado and New Mexico, further expanding its market presence.
Operationally, the company reported a total refining throughput of 656,920 barrels per day, an increase from 646,580 barrels per day in the prior year. The refining segment's gross margin improved significantly, reflecting stronger margins in the West region, although some challenges were noted in the Mid-Continent region. The Renewables segment benefited from higher margins due to favorable market conditions, including increased Renewable Identification Number (RIN) prices and tax credits. Looking ahead, HF Sinclair anticipates running between 600,000 to 630,000 barrels per day of crude oil in the second quarter of 2026, following the completion of planned maintenance activities.
In terms of future outlook, HF Sinclair's management expressed confidence in the company's ability to navigate market conditions and capitalize on growth opportunities. The company plans to continue its disciplined capital allocation strategy, focusing on self-funding development projects and returning cash to shareholders through dividends and share repurchases. The Board of Directors has declared a quarterly dividend of $0.50 per share, payable on June 2, 2026, reflecting the company's commitment to returning value to its stockholders.
About HF Sinclair Corp
HF Sinclair Corporation is an independent energy company engaged in producing and marketing high-value light products such as gasoline, diesel, jet fuel, renewable diesel, lubricants, and asphalt. Its operations include refining, renewables, marketing, lubricants, and midstream logistics across the U.S. and Canada. The company emphasizes safety, sustainability, and employee development, serving diverse markets with a competitive, integrated business model focused on quality and operational efficiency.
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