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HF Sinclair DINO Midstream — Operating Expenses

Other segment segments

Refining
$491M+11.3%
Lubricants & Specialties
$78M+23.8%
Renewables
$23M+4.5%
Marketing
$0

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Other financials

Income statement

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Revenue$10.4B+53.2%
Gross profit$1.6B+152%
Operating income$1.2B+325%
Net income$892.0M+329%
EPS (diluted)$4.93+348%

Balance sheet

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Cash & equivalents$2.3B+159%
Total debt$3.2B+3.0%
Total equity$10.3B+10.8%
Total assets$19.0B+12.8%

Cash flow

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Operating cash flow$1.5B+157%
CapEx$118.0M+6.3%
Free cash flow$1.4B+192%

Valuation

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Market cap$14.75B+81.9%
Enterprise value$15.73B+51.5%
P/E7.6×
P/S0.5×+0.3×

Profitability

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Gross margin12.9%+10.1pp
Operating margin8.3%
Net margin6.2%
FCF margin3.6%-4.3pp

Returns & leverage

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Return on equity19.9%
Debt / equity0.3×0.0×
Current ratio+0.2×

Where this comes from

Reported directly by HF Sinclair in its filing.

Tagged under the XBRL concept us-gaap:DirectOperatingCosts.

The source filing: HF Sinclair’s 10-Q, filed July 30, 2026.

Filed
Jul 30, 2026, 8:31 AM EDT
Fiscal quarter
Q2 FY2026
Calendar quarter
Q2 2026
Accession
0001915657-26-000057
Three Months Ended June 30, 2026Refining / Three Months Ended June 30, 2026Renewables / Three Months Ended June 30, 2026MarketingLubricants & SpecialtiesMidstreamCorporate, Other and EliminationsConsolidated Total
Cost of sales: (2)
Cost of materials and other (3)7,6493391,332674(1,861)8,133
Lower of cost or market inventory valuation adjustments3030
Operating expenses4912378602654
8,1403921,33275260(1,859)8,817
Selling, general and administrative expenses (2)6511041211130
Depreciation and amortization146168251815228
Other operating expenses, net4747

Item 1. Financial Statements

FAQ

What is HF Sinclair's midstream — operating expenses?
HF Sinclair (DINO) reported midstream — operating expenses of $60M in Q2 2026.
How has HF Sinclair's midstream — operating expenses changed year-over-year?
HF Sinclair's midstream — operating expenses increased by 33.3% year-over-year, from $45M to $60M.
What is the long-term trend for HF Sinclair's midstream — operating expenses?
Over 4 years (2021 to 2025), HF Sinclair's midstream — operating expenses has grown at a 10.5% compound annual growth rate (CAGR), from $133.53M to $199M.
What does midstream — operating expenses mean?
This encompasses the day-to-day costs required to maintain and operate the midstream infrastructure, including labor, maintenance, and utility expenses. It is a key measure of the operational overhead required to keep pipelines and terminals functional. Controlling these expenses is critical for maintaining the segment's profitability.

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