After A Price Correction, HF Sinclair Is Starting To Look Interesting (Rating Upgrade)
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HF Sinclair (DINO) reported a net loss in Q3 due to weak crack spreads, but saw strong performance in the mid-con region and consistent earnings from lubricants and midstream businesses. With California refineries closing, DINO's Midwest assets could benefit by filling the supply gap.
November 05, 2024 | 12:30 pm
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HF Sinclair (DINO) reported a Q3 net loss due to weak crack spreads, but its Midwest assets may benefit from California refinery closures, potentially improving future revenues.
Despite a Q3 net loss from weak crack spreads, HF Sinclair's strong performance in the mid-con region and consistent earnings from lubricants and midstream businesses provide a positive outlook. The closure of California refineries due to regulatory and cost issues presents an opportunity for DINO's Midwest assets to fill the supply gap, potentially boosting future revenues.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100