HF Sinclair reported second quarter 2026 revenue of $10.4 billion and diluted EPS of $4.93, surpassing analyst expectations. The company also announced a strategic plan to separate its Lubricants & Specialties segment into an independent public company and increased its quarterly dividend by 5%.
Key Highlights
- The Refining segment's performance was the primary driver, with adjusted refinery gross margin increasing 57% year-over-year to $25.95 per produced barrel, fueled by favorable crack spreads.
- HF Sinclair announced a major strategic transformation, planning to spin off its Lubricants & Specialties segment via the capital markets over the next 12-18 months.
- The company returned $265 million to shareholders in the quarter and announced a 5% increase in its regular quarterly dividend to $0.525 per share.
- The Renewables segment returned to profitability, reporting an operating income of $30 million, compared to a loss of $4 million in the prior-year quarter, driven by improved RINs prices and higher volumes.