Q1 2026 HF Sinclair Corp Earnings Call Transcript
Key Points
- HF Sinclair Corp (DINO) delivered strong results across each business segment, supported by safe and reliable operations.
- The company recorded an excellent safety quarter with no Tier 1 process safety events despite heavy turnaround activities and harsh weather conditions.
- In the Renewables segment, HF Sinclair optimized its business to capture favorable market conditions, resulting in strong financial performance.
- The Marketing segment saw significant growth, with 25 new branded sites added and plans to grow the number of branded sites by approximately 10% annually.
- HF Sinclair returned $167 million in cash to shareholders through dividends and share repurchases, demonstrating strong shareholder returns.
- The company faced leadership challenges as both the CEO and CFO took leaves of absence, creating uncertainty in future leadership.
- The military conflict in the Middle East caused substantial disruption to crude oil markets, adding volatility to HF Sinclair's operations.
- The Lubricants segment experienced unprecedented cost inflation, requiring multiple pricing actions to recover higher costs.
- A fuel contamination incident at a product terminal in Colorado led to higher operating costs in the Midstream segment.
- The company is facing challenges related to the Renewable Fuel Standard (RFS) and the high cost of Renewable Identification Numbers (RINs), impacting financial performance.
Welcome to HF Sinclair's Corporation's first quarter 2026 conference call and webcast. Hosting the call today is Franklin Myers, who is serving as Chief Executive Officer of HF Sinclair. He is joined by Vivek Garg, acting Chief Financial Officer; Steve Ledbetter, EVP of Commercial. Valerie Pompa, EVP of Operations; and Matt Joyce, SVP of Lubricants and Specialties. (Operator Instructions) Please note that this conference is being recorded.
It is now my pleasure to turn the floor over to Craig Biery, Vice President, Investor Relations. Craig, you may begin.
Thank you, Matt. Good morning, everyone, and welcome to HF Sinclair Corporation's first quarter 2026 earnings call. This morning, we issued a press release announcing results for the quarter ending March 31, 2026. If you would like a copy of the earnings press release, you may find it on our website at hfsinclair.com. Before we proceed with remarks, please note the Safe Harbor disclosure statement in today's press release.
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