July 31 (Reuters) - Refiner HF Sinclair beat
Wall Street estimates for second-quarter profit on Thursday,
helped by higher refining margins.
Top U.S. refiners were expected to post higher
second-quarter profits, rebounding from first-quarter losses as
stronger-than-expected diesel margins lifted earnings. The
improved margins helped peers such as Valero Energy ( VLO )
surpass Wall Street estimates.
Fuel makers have seen an unexpected boost in profits from
key products in recent months, offering relief after earnings
retreated from 2022 highs driven by a post-pandemic demand
rebound and supply disruptions following Russia's invasion of
Ukraine.
The company's adjusted refinery gross margin per barrel was
up at $16.50 in the quarter, compared with $11.33 from a year
earlier.
The company reported adjusted profit of $1.70 per share for
the three months ended June 30, compared with analysts' average
estimate of $1.02 per share, according to data compiled by LSEG.