HollyFrontier (HFC) Tops Q1 EPS by 12c, Revenues Miss

HollyFrontier (NYSE: HFC) reported Q1 EPS of $0.53, $0.12 better than the analyst estimate of $0.41. Revenue for the quarter came in at $3.4 billion versus the consensus estimate of $3.63 billion.

• Reported net loss attributable to HollyFrontier stockholders of $(304.6) million, or $(1.88) per diluted share, and adjusted net income of $86.5 million, or $0.53 per diluted share, for the first quarter
• Reported EBITDA of $(307.6) million and adjusted EBITDA of $268.8 million for the first quarter
• Returned $57.2 million to shareholders through dividends in the first quarter

HollyFrontier’s President & CEO, Michael Jennings, commented, “HollyFrontier delivered strong financial results in the first quarter driven by healthy margins in our refining and finished lubricants businesses. As we continue to navigate the COVID-19 pandemic, our top priority remains the health and safety of our employees, communities and contractors. We are committed to delivering safe and reliable operations during this challenging environment. We believe our disciplined approach to capital allocation, led by our strong balance sheet and liquidity position, will help position HollyFrontier for long term success.”

For earnings history and earnings-related data on HollyFrontier (HFC) click here.

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