HF Sinclair rises on Q2 profit beat; co to separate lubricants and specialties business
DINO•Shares rise after Q2 profit beat
Shares of U.S. refiner HF Sinclair DINO.N were up 5.6% at $95.88 in premarket trading.
The company beat second-quarter profit estimates on stronger refining margins, posting $5.31 per share versus an estimate of $4.51 per share, according to LSEG data.
Refining margins improve year over year
Adjusted refinery gross margin per barrel was $25.95 in Q2, compared with $16.50 a year earlier.
As of the last close, DINO was up 97% year to date.
Planned separation of lubricants and specialties business
DINO plans to separate its lubricants and specialties business into an independent publicly traded company.
