HF Sinclair Corporation Reports Fourth Quarter and Full Year 2023 Results

Details

The company reported a net loss of $62.2 million for Q4 2023, attributed to lower gross margins and higher costs. Adjusted net income for Q4 was $164.6 million. For the full year 2023, HF Sinclair reported a net income of $1.6 billion, a decrease from $3.0 billion in 2022. The company also announced a $0.05 increase in its regular quarterly dividend to $0.50 per share, effective from the next dividend payable date.

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About Hf Sinclair Corporation

Hf Sinclair Corporation is an integrated energy company involved in refining, marketing, and distributing petroleum products. Its primary focus is on supplying fuel and specialty lubricant products, with operations that extend into petrochemicals and renewable fuels. Serving various sectors such as automotive, industrial, and agricultural, Hf Sinclair plays a crucial role in the energy supply chain by processing crude oil into refined products, including gasoline and diesel. The company's refining operations are strategically located across the United States, facilitating efficient distribution across diverse markets. With a commitment to sustainability, Hf Sinclair is also investing in renewable energy solutions and reducing carbon emissions. As a significant player in the energy sector, the corporation contributes to both local and global energy supplies, impacting market dynamics through its production capacities and strategic initiatives. Founded through a merger of HollyFrontier Corporation and Sinclair Oil Corporation, Hf Sinclair combines extensive industry expertise with a robust operational network, making it a key participant in the broader energy landscape.