HF Sinclair Posts $648M Q1 Profit, Profitable Renewables and Refined Margins
HF Sinclair delivered a $648 million net income in Q1 2026, translating to $3.56 EPS on $7.12 billion revenue, reversing a $4 million loss and beating forecasts. Crude runs hit top guidance despite winter turnarounds, Renewables reached profitability, and Lubricants recovered margins through pricing actions.
1. Q1 Financial Turnaround
HF Sinclair reported a net income of $648 million and EPS of $3.56 for Q1 2026, compared to a $4 million loss in Q1 2025. Revenue reached $7.12 billion, surpassing analyst forecasts of $6.83 billion and marking continued top-quartile performance in the refining sector.
2. Operational Performance
The company ran its crude charge at the upper end of guidance despite harsh winter weather and heavy turnaround activity, highlighting safe and reliable operations. Strong maintenance execution and optimization of turnaround schedules ensured minimal downtime and maximized throughput.
3. Strategic and Renewables Growth
HF Sinclair’s Go West strategy leverages advantaged Rockies logistics to supply growing Western and California markets. Its Renewables segment reached profitability by sourcing feedstock near facilities and expanding market placement into the Pacific Northwest and Canada.
4. Lubricants Margin Recovery
In Lubricants, unprecedented cost inflation was addressed through multiple disciplined pricing actions, enabling the company to recover margins. A secure supply chain and strategic pricing adjustments ensured stable availability and improved profitability in this segment.