HF Sinclair DINO Business Segments
| Q1 '26 | Q4 '25 | Q3 '25 | Q2 '25 | Q1 '25 | ||
|---|---|---|---|---|---|---|
| Sales and other revenues (Note 3) by Business | ||||||
| Lubricants & Specialties | $654M+11.2% | $588M-10.2% | $655M+1.6% | $645M+1.1% | $638M+3.4% | |
| Marketing | $792M+8.2% | $732M-18.5% | $898M+8.7% | $826M+20.4% | $686M-9.7% | |
| Midstream | $166M-2.4% | $170M+6.3% | $160M+1.9% | $157M+0.6% | $156M-6.6% | |
| Refining | $6.27B+9.8% | $5.71B-11.4% | $6.44B+7.0% | $6.02B+6.5% | $5.65B-2.2% | |
| Renewables | $334M+25.6% | $266M-4.0% | $277M+7.4% | $258M+35.8% | $190M-20.2% | |
| Operating Income (Loss) by Business | ||||||
| Lubricants & Specialties | $64M+237% | $19M-63.5% | $52M+67.7% | $31M-50.8% | $63M+37.0% | |
| Marketing | $20M+42.9% | $14M-33.3% | $21M+16.7% | $18M-10.0% | $20M+42.9% | |
| Midstream | $86M-5.5% | $91M0.0% | $91M0.0% | $91M+1.1% | $90M+1.1% | |
| Refining | $514M— | $0-100% | $476M+187% | $166M+653% | -$30M+91.0% | |
| Renewables | $182M+620% | -$35M+36.4% | -$55M-1,275% | -$4M+89.7% | -$39M-200% | |
| Selling, general and administrative expenses by Business | ||||||
| Lubricants & Specialties | $42M-2.3% | $43M+19.4% | $36M-16.3% | $43M+19.4% | $36M-5.3% | |
| Marketing | $8M-42.9% | $14M+40.0% | $10M+11.1% | $9M+28.6% | $7M-30.0% | |
| Midstream | $2M0.0% | $2M+100% | $1M-50.0% | $2M0.0% | $2M0.0% | |
| Refining | $57M-5.0% | $60M+13.2% | $53M+1.9% | $52M-3.7% | $54M-16.9% | |
| Renewables | $1M-50.0% | $2M+100% | $1M— | $0-100% | $1M0.0% | |
| Cost of Goods and Service, Excluding Depreciation, Depletion, and Amortization by Business | ||||||
| Lubricants & Specialties | $524M+4.4% | $502M-7.2% | $541M-1.5% | $549M+6.2% | $517M+1.6% | |
| Marketing | $756M+8.6% | $696M-19.1% | $860M+8.6% | $792M+21.5% | $652M-10.4% | |
| Midstream | $59M+1.7% | $58M+16.0% | $50M+11.1% | $45M-2.2% | $46M-20.7% | |
| Refining | $5.56B-0.3% | $5.57B-3.5% | $5.77B+2.0% | $5.66B+3.2% | $5.49B-7.1% | |
| Renewables | $132M-52.3% | $277M-10.4% | $309M+30.9% | $236M+15.1% | $205M-12.0% | |
| Cost, Direct Material by Business | ||||||
| Lubricants & Specialties | $450M+4.9% | $429M-8.7% | $470M-3.3% | $486M+7.3% | $453M+2.0% | |
| Marketing | $756M+8.6% | $696M-19.1% | $860M+8.6% | $792M+21.5% | $652M-10.4% | |
| Midstream | $0— | $0— | $0— | $0— | $0— | |
| Refining | $5.69B+19.0% | $4.78B-9.4% | $5.28B+4.6% | $5.05B-1.8% | $5.14B-5.0% | |
| Renewables | $178M-27.9% | $247M-7.5% | $267M+12.2% | $238M+30.1% | $183M-17.6% | |
| Operating expenses by Business | ||||||
| Lubricants & Specialties | $74M+1.4% | $73M+2.8% | $71M+12.7% | $63M-1.6% | $64M-1.5% | |
| Marketing | $0— | $0— | $0— | $0— | $0— | |
| Midstream | $59M+1.7% | $58M+16.0% | $50M+11.1% | $45M-2.2% | $46M-20.7% | |
| Refining | $468M-1.7% | $476M+6.5% | $447M+1.4% | $441M-4.3% | $461M-8.7% | |
| Renewables | $22M-4.3% | $23M+4.5% | $22M0.0% | $22M-4.3% | $23M-4.2% | |
| Lower of cost or market inventory valuation adjustments (Note 8) by Business | ||||||
| Lubricants & Specialties | $0— | $0— | $0— | $0— | $0— | |
| Midstream | $0— | $0— | $0— | $0— | $0— | |
| Refining | -$604M-293% | $313M+580% | $46M-73.3% | $172M+248% | -$116M-1,060% | |
| Renewables | -$68M-1,071% | $7M-65.0% | $20M+183% | -$24M-2,300% | -$1M+92.3% | |
| Lower of cost or market inventory valuation adjustments by Business | ||||||
| Refining | -$604M-293% | $313M+580% | $46M-73.3% | $172M+248% | -$116M-1,037% | |
| Renewables | -$68M-1,071% | $7M-65.0% | $20M+183% | -$24M-2,300% | -$1M+92.1% | |
| Depreciation, Depletion and Amortization by Business | ||||||
| Lubricants & Specialties | $24M0.0% | $24M-7.7% | $26M+18.2% | $22M0.0% | $22M-4.3% | |
| Marketing | $8M0.0% | $8M+14.3% | $7M0.0% | $7M0.0% | $7M-12.5% | |
| Midstream | $19M0.0% | $19M+5.6% | $18M-5.3% | $19M+5.6% | $18M-10.0% | |
| Refining | $145M+5.1% | $138M-0.7% | $139M+3.7% | $134M-2.2% | $137M+3.8% | |
| Renewables | $19M-13.6% | $22M0.0% | $22M-15.4% | $26M+13.0% | $23M+35.3% | |
| CapEx by Business | ||||||
| Lubricants & Specialties | $6M-64.7% | $17M+113% | $8M-27.3% | $11M+10.0% | $10M-47.4% | |
| Marketing | $18M+38.5% | $13M-23.5% | $17M+54.5% | $11M+83.3% | $6M-68.4% | |
| Midstream | $12M-7.7% | $13M+44.4% | $9M-25.0% | $12M+33.3% | $9M-30.8% | |
| Refining | $64M-16.9% | $77M-2.5% | $79M+11.3% | $71M+22.4% | $58M-45.3% | |
| Renewables | $1M-50.0% | $2M— | $0— | $0-100% | $1M-50.0% | |
| Inventory Valuation Reserves by Business | ||||||
| Refining | $0-100% | $604M+108% | $291M+18.8% | $245M+236% | $73M-61.4% | |
| Renewables | $34M-66.7% | $102M+7.4% | $95M+26.7% | $75M-24.2% | $99M-1.0% | |
| Sales and other revenues (Note 3) by Product | ||||||
| Asphalt, fuel oil and other products | $393M+25.6% | $313M-21.9% | $401M+2.0% | $393M+23.2% | $319M-83.5% | |
| Excess crude oil revenues | $429M+101% | $213M-45.9% | $394M+14.2% | $345M-9.9% | $383M-75.6% | |
| Lubricants and specialty products | $586M+10.4% | $531M-10.9% | $596M+2.2% | $583M-2.3% | $597M-75.4% | |
| RIN | $76M-29.3% | $107.5M0.0% | $107.5M0.0% | $107.5M0.0% | $107.5M— | |
| Transportation and logistics services | $31M-8.8% | $34M+17.2% | $29M0.0% | $29M0.0% | $29M-72.9% | |
| Transportation fuels | $5.51B+10.9% | $4.96B-12.4% | $5.67B+6.0% | $5.34B+7.7% | $4.96B-77.7% |
Chart any of these lines over time, or line them up against competitors.
Compare these in charts →Questions, answered.
- How does HF Sinclair break its business down?
- HF Sinclair (DINO) reports sales and other revenues (note 3) by business across 5 parts — Lubricants & Specialties, Marketing, Midstream, Refining and Renewables. Each is extracted from the segment footnotes and tracked over time.
- Where does HF Sinclair's segment data come from?
- Segment breakdowns are pulled from the segment footnotes in HF Sinclair's SEC filings (the XBRL dimensional tags), so every line ties back to a reported figure. Switch between quarterly, annual, and TTM, or open any segment for its full history.
