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HF Sinclair 8-K Report, Financial Results (Oct 30, 2025)

Reports
Earnings & Results·Exhibits & Filings
Filing Date
Filed October 30, 2025
Period End
October 30, 2025
Security
DINO
In the record · 2022–202610-K410-Q158-K125

DINO filed 4 annual reports (10-K), 15 quarterly reports (10-Q) and 125 current reports (8-K) between 2022 and 2026.

  1. Leadership change8-K · Feb ’23Feb ’23
  2. Leadership change8-K · Feb ’24Feb ’24
  3. Material agreement8-K · Jan ’25Jan ’25
  4. Material agreement8-K · Oct ’26Oct ’26

01—Abstract

Summary

Summary of the 8-K filed October 30, 2025. Cited figures are marked; the original filing is the authoritative source.

HF Sinclair Corporation reported third quarter 2025 results in a press release furnished as Exhibit 99.1 to this Item 2.02 Form 8-K.

Net income attributable to HF Sinclair stockholders was $403 milliona, or $2.15 per diluted share, compared with a net loss of $76 million, or $(0.40) per diluted share, in the third quarter of 2024. Adjusted net income attributable to HF Sinclair stockholders was $459 million, or $2.44 per diluted share, versus $96 million, or $0.51 per diluted share, a year earlier. Reported EBITDA was $796 million and Adjusted EBITDA was $870 million.

Sales and other revenues were $7.25 billionb, up 1% from $7.21 billion. The Refining segment drove the improvement, with income before interest and income taxes of $476 million versus a $212 million loss a year earlier. Adjusted refinery gross margin rose to $19.16 per produced barrel sold from $10.79, and crude oil charge averaged 639,050 barrels per day compared with 607,010.

Management attributed the gain to higher adjusted refinery gross margins in both the West and Mid-Continent regions, including small refinery RINs waivers granted by the EPA, and to lower turnaround activity. Renewables remained loss-making, with a segment loss before interest and income taxes of $55 millionc, while Marketing, Lubricants & Specialties and Midstream all reported higher or comparable results. The company generated $809 million of net cash from operations in the third quarter and ended the quarter with $1,451 million of cash and cash equivalents and $2,768 million of consolidated debt.

It paid and announced a regular quarterly dividend of $0.50d per share, payable December 5, 2025 to holders of record on November 19, 2025, and spent $166 million on share repurchases in the quarter. Total returns to stockholders in the quarter were $254 million through dividends and buybacks.

02—Key points

Key Highlights

  1. Net income attributable to HF Sinclair stockholders of $403 million ($2.15 per diluted share) versus a net loss of $76 million ($(0.40) per diluted share) in Q3 2024.
  2. Adjusted net income attributable to HF Sinclair stockholders of $459 million ($2.44 per diluted share) versus $96 million ($0.51 per diluted share) in Q3 2024.
  3. Reported EBITDA of $796 million and Adjusted EBITDA of $870 million, compared with $99 million and $316 million a year earlier.
  4. Refining segment income before interest and income taxes of $476 million, up from a $212 million loss; adjusted refinery gross margin of $19.16 per produced barrel sold versus $10.79.
  5. Renewables segment loss before interest and income taxes widened to $55 million from $23 million, with Adjusted EBITDA of $(13) million.
  6. Net cash provided by operations of $809 million in the quarter; cash and cash equivalents of $1,451 million and consolidated debt of $2,768 million at September 30, 2025.
  7. Declared a regular quarterly dividend of $0.50 per share, payable December 5, 2025 to holders of record on November 19, 2025; $254 million returned to stockholders in the quarter.

03—Questions

Frequently Asked Questions

  1. How did HF Sinclair perform in the third quarter of 2025 compared with the third quarter of 2024?

    Net income attributable to HF Sinclair stockholders was $403 million, or $2.15 per diluted share, versus a net loss of $76 million, or $(0.40) per diluted share, a year earlier. Adjusted net income was $459 million, or $2.44 per diluted share, compared with $96 million, or $0.51 per diluted share.

  2. What drove the improvement in results?

    The press release attributes the Refining segment's improvement to higher adjusted refinery gross margins in the West and Mid-Continent regions, including small refinery RINs waivers granted by the EPA. Crude oil charge also rose to 639,050 barrels per day from 607,010, primarily because turnaround activity decreased.

  3. What dividend did the company declare and when is it payable?

    The Board declared a regular quarterly dividend of $0.50 per share, payable on December 5, 2025 to holders of record of common stock on November 19, 2025.

  4. How much cash did the company generate and hold?

    Net cash provided by operations was $809 million for the third quarter. Cash and cash equivalents were $1,451 million at September 30, 2025, up from $800 million at December 31, 2024, and consolidated debt was $2,768 million.

  5. How did the Renewables segment perform?

    The Renewables segment reported a loss before interest and income taxes of $55 million, compared with a $23 million loss a year earlier. Management said it recognized incrementally more value from the Producer's Tax Credit in the third quarter and expects to capture incrementally more value in the fourth quarter of 2025.

04—Continue

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