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HF Sinclair Corporation (DINO) Operating Income by Segment

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Operating Income by Segment

Shows profit generated by each business unit (refining, marketing/retail, lubricants/specialties, midstream), highlighting which segments drive earnings, how resilient margins are to commodity swings, and where operational problems would hit the income statement hardest.

-$1.00B-$500.00M$0.00$500.00M$1.00B$1.50B$2.00B$2.50BMar 21Jun 21Sep 21Dec 21Mar 22Jun 22Sep 22Dec 22Mar 23Jun 23Sep 23Dec 23Mar 24Jun 24Sep 24Dec 24Mar 25Jun 25Sep 25Dec 25Mar 26Jun 26Sep 26
Chart Insights

HF Sinclair’s earnings power has sharply reaccelerated, with Refining driving the latest surge as tight fuel supply and elevated crack spreads more than offset lower turnaround-affected throughput. Renewables has also moved from persistent losses to meaningful profitability, suggesting operational improvements are taking hold, while Marketing and Midstream provide steadier but comparatively modest contributions. Lubricants remains strategically valuable despite quarterly volatility and Mississauga-related charges; its planned 2027 separation could unlock a leaner, more flexible business. Investors should still expect substantial cyclicality, with management cautioning that a full refining recovery may not arrive until 2028.

DINO Operating Income by Segment

DateRefiningCorporate & OtherRenewablesMarketingLubricants & SpecialitiesHEPMidstream
Sep 30, 2026$2.44B-$38.00M$123.00M$31.00M$38.00M―$83.00M
Jun 30, 2026$877.00M-$27.00M$30.00M$20.00M$181.00M$87.00M$87.00M
Mar 31, 2026$514.00M-$19.00M$182.00M$20.00M$64.00M$86.00M$86.00M
Dec 31, 2025-$49.00M$50.00M-$33.00M$13.00M$15.00M$76.00M$76.00M
Sep 30, 2025$476.00M-$66.00M-$56.00M$22.00M$54.00M$98.00M$98.00M
Jun 30, 2025$166.00M-$65.00M-$5.00M$18.00M$33.00M$99.00M$99.00M
Mar 31, 2025-$30.00M-$23.00M-$39.00M$20.00M$63.00M$90.00M$90.00M
Dec 31, 2024-$331.75M-$29.48M-$13.27M$14.20M$45.53M$88.79M$88.79M
Sep 30, 2024-$212.08M-$30.36M-$23.16M$15.55M$55.77M$73.54M$73.54M
Jun 30, 2024$64.73M-$26.16M-$14.53M$9.03M$74.64M$89.22M$89.22M
Mar 31, 2024$312.11M-$20.00M-$40.04M$9.22M$64.06M$85.45M$85.45M
Dec 31, 2023$1.81B-$89.86M-$122.33M$11.44M$69.05M$91.48M$91.48M
Sep 30, 2023$911.89M-$19.04M$3.06M$15.10M$93.35M$66.99M$66.99M
Jun 30, 2023$589.78M-$14.30M$4.41M$18.48M$51.42M$54.56M$54.56M
Mar 31, 2023$440.68M-$13.19M-$64.58M$502.00K$78.74M$62.05M$62.05M
Dec 31, 2022$759.90M-$20.88M-$34.75M$16.90M$44.29M$61.74M$61.74M
Sep 30, 2022$1.34B-$24.89M-$49.30M$3.86M-$4.99M$58.94M$58.94M
Jun 30, 2022$1.56B-$23.36M-$73.27M$19.50M$134.88M$50.82M$50.82M
Mar 31, 2022$113.02M-$37.20M-$22.12M$5.27M$122.09M$51.68M$51.68M
Dec 31, 2021-$63.48M-$61.70M$0.00$0.00$53.53M$51.13M$51.13M
Sep 30, 2021$218.86M-$38.13M$0.00$0.00$62.36M$54.31M$54.31M
Jun 30, 2021$250.47M-$35.21M$0.00$0.00$59.93M$59.05M$59.05M
Mar 31, 2021$45.65M-$34.04M$0.00$0.00$66.61M$59.84M$59.84M