Skip to content
AnalystLens

HF Sinclair 8-K Report, Financial Results (May 1, 2026)

Reports
Earnings & Results·Exhibits & Filings
Filing Date
Filed May 1, 2026
Period End
May 1, 2026
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 May 1, 2026. Cited figures are marked; the original filing is the authoritative source.

HF Sinclair Corporation (NYSE: DINO) reported first quarter 2026 results on May 1, 2026, with net income attributable to HF Sinclair stockholders of $648 milliona, or $3.56 per diluted share, compared with a net loss of $4 million, or $(0.02) per diluted share, in the first quarter of 2025.

Excluding non-GAAP adjustments, primarily a non-cash Lower of cost or market inventory valuation adjustment benefit of $672 millionb, adjusted net income attributable to HF Sinclair stockholders was $127 million, or $0.69 per diluted share, versus an adjusted net loss of $50 million, or $(0.27) per diluted share, a year earlier. Consolidated EBITDA was $1,097 million and Adjusted EBITDA was $426 million, compared with $262 million and $201 million, respectively. The Refining segment was the largest contributor, with income before interest and income taxes of $514 million versus a loss of $30 million a year earlier, and Adjusted EBITDA of $55 million (excluding a $604 million inventory valuation benefit).

The Renewables segment swung to income before interest and income taxes of $182 millionc, helped by $49 million of prior-year Producer's Tax Credit benefits recognized after a February 2026 proposed Treasury/IRS ruling. Lubricants & Specialties and Midstream also reported higher income before interest and taxes, while Midstream Adjusted EBITDA declined to $111 million from $119 million due to costs from a fuel-contamination incident at a Colorado terminal. Cash and cash equivalents rose to $1,148 million at March 31, 2026, from $978 million at December 31, 2025, with net cash provided by operations of $457 million.

The company returned $167 milliond to stockholders through dividends and share repurchases in the quarter, paid a $0.50 per share dividend totaling $91 million, and spent $76 million on repurchases. Consolidated debt was $2,771 million. The Board declared a regular quarterly dividend of $0.50 per share, payable June 2, 2026, to holders of record on May 11, 2026.

02—Key points

Key Highlights

  1. Reported net income attributable to HF Sinclair stockholders of $648 million, or $3.56 per diluted share, versus a net loss of $4 million, or $(0.02) per diluted share, in Q1 2025
  2. Adjusted net income attributable to HF Sinclair stockholders of $127 million, or $0.69 per diluted share, versus an adjusted net loss of $50 million, or $(0.27) per diluted share, a year earlier
  3. Consolidated Adjusted EBITDA of $426 million, up from $201 million; EBITDA of $1,097 million, up from $262 million
  4. Refining segment income before interest and income taxes of $514 million, including a $604 million lower of cost or market inventory valuation benefit; adjusted refinery gross margin was $9.95 per produced barrel sold versus $9.12 in Q1 2025
  5. Renewables segment income before interest and income taxes of $182 million, including $49 million of prior-year PTC benefits recognized after a February 2026 proposed Treasury/IRS ruling
  6. Cash and cash equivalents increased to $1,148 million from $978 million at year-end 2025; net cash provided by operations was $457 million
  7. Declared a regular quarterly dividend of $0.50 per share, payable June 2, 2026, to holders of record on May 11, 2026

03—Questions

Frequently Asked Questions

  1. What drove the swing to a large GAAP profit in the first quarter of 2026?

    The GAAP result was driven largely by a non-cash Lower of cost or market inventory valuation adjustment benefit of $672 million, which increased income from operations to $847 million from $81 million a year earlier. Refining contributed $604 million of that benefit, and Renewables contributed $68 million.

  2. How did the operating segments perform beyond the inventory valuation effects?

    Refining Adjusted EBITDA was $55 million versus $(8) million, driven by higher adjusted refinery gross margins in the West region and higher refined product sales volumes, partly offset by lower margins in the Mid-Continent region. Lubricants & Specialties Adjusted EBITDA rose to $103 million from $85 million on a larger FIFO benefit. Midstream Adjusted EBITDA fell to $111 million from $119 million due to costs from a fuel-contamination incident at a Colorado product terminal.

  3. What did the company return to shareholders and what is the upcoming dividend?

    HF Sinclair returned $167 million to stockholders through dividends and share repurchases in the first quarter, including $91 million of dividends at $0.50 per share and $76 million of share repurchases. The Board declared a regular quarterly dividend of $0.50 per share, payable June 2, 2026, to holders of record as of May 11, 2026.

  4. How did the balance sheet change during the quarter?

    Cash and cash equivalents increased by $170 million to $1,148 million at March 31, 2026. Total debt was $2,771 million, essentially unchanged from $2,769 million at December 31, 2025, and total equity rose to $9,729 million from $9,249 million.

04—Continue

← View all 8-K filings