Oil refiner HF Sinclair’s fourth-quarter profit beats estimates

By Thomson Reuters Feb 21, 2024 | 5:36 AM

(Reuters) -HF Sinclair beat Wall Street estimates for fourth-quarter profit on Wednesday, helped by healthy refining margins and resilient fuel demand.

U.S. refiners’ earnings normalized throughout last year, after hitting sky-high levels in 2022, when Russia’s invasion of Ukraine disrupted crude supplies.

HF Sinclair’s consolidated gross refining margin fell to $13.88 per barrel of throughput in the fourth quarter, from $23.47 a year earlier.

The Dallas-based company posted an adjusted profit of 87 cents per share for the quarter, compared to analysts’ estimates of 72 cents per share, according to LSEG data.

(Reporting by Arunima Kumar in Bengaluru)