HF Sinclair reports record earnings in Midstream, Marketing, and Lubricants
HF Sinclair Corporation (NYSE: DINO) reported record earnings in its Midstream and Marketing segments and delivered strong results in Lubricants & Specialties for 2024.
CEO Tim Go highlighted the robust performance of these segments despite challenges in refining and renewables. “Our record performance in Midstream and Marketing and strong results in Lubricants & Specialties reflect the success of our integration and optimisation efforts. We also returned over USD1 billion to shareholders through dividends and share repurchases,” he said.
In Lubricants & Specialties, fourth-quarter income before interest and taxes rose to USD46 million from USD34 million in the prior year, with EBITDA reaching USD69 million. Growth was driven by lower FIFO (First-In, First-Out) charges and efficient use of lower-cost feedstock. The segment continues to expand its presence in high-value base oils and specialty lubricants, with operations in the U.S., Canada, and the Netherlands supporting exports to more than 80 countries.
Its portfolio includes well-known brands such as Petro-Canada Lubricants, Sonneborn, and Red Giant Oil, offering a range of lubricants, white oils, process oils, and specialty products tailored to meet the needs of diverse industries, including automotive, transportation, healthcare, and manufacturing.
For the full year, HF Sinclair posted a net income of USD177 million, with adjusted EBITDA (Earnings Before Interest, Taxes, Depreciation, and Amortisation) of USD1.15 billion. Lubricants & Specialties played a key role, with increased demand, expanded production capacity, and improved efficiency contributing to overall profitability.
HF Sinclair’s Board of Directors declared a quarterly dividend of USD0.50 per share, payable on 20 March 2025.
About HF Sinclair
Headquartered in Dallas, Texas, U.S.A., HF Sinclair is a leading producer and marketer of fuels, lubricants, and specialty products, supplying more than 1,600 branded stations and exporting to more than 80 countries.
