Feb 18 (Reuters) - HF Sinclair ( DINO ) topped Wall
Street estimates for fourth-quarter profit on Wednesday, helped
by higher refining margins for its products, and said CEO Tim Go
would take a voluntary leave of absence from his duties.
U.S. fuel maker margins have begun to rebound from
multi-year lows touched in 2024, a pullback that followed the
earlier spike triggered by sanctions on Russia in the wake of
its invasion of Ukraine, which had constricted global supply.
Quarterly U.S. refinery margins, measured by the 3-2-1 crack
spread , were up about 45% on an average in the
fourth quarter from a year earlier.
HF Sinclair's ( DINO ) adjusted refinery gross margin was up at
$16.28 per barrel during the period, compared with $6.68 per
barrel a year ago.
The company's refining segment reported an adjusted core
profit of $403 million, compared with a loss of $169 million a
year earlier.
It posted an adjusted profit of $1.20 per share for the
three months ended December 31, compared with analysts' average
estimate of 45 cents per share, according to data compiled by
LSEG.
Separately, HF Sinclair said Go would be replaced by the
chairperson of the board, Franklin Myers, on a temporary basis.