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+2.5% | $588M-4.7% | $655M-4.5% | $645M-11.8% | $638M-5.9% | |
| Marketing | $792M+15.5% | $732M-3.7% | $898M-5.5% | $826M-12.4% | $686M-11.6% | |
| Midstream | $166M+6.4% | $170M+1.8% | $160M-2.4% | $157M-0.6% | $156M+0.6% | |
| Refining | $6.27B+11.0% | $5.71B-1.2% | $6.44B+1.0% | $6.02B-13.7% | $5.65B-8.9% | |
| Renewables | $334M+75.8% | $266M+11.8% | $277M+4.5% | $258M+4.0% | $190M-20.5% | |
| Operating Income (Loss) by Business | ||||||
| Lubricants & Specialties | $64M+1.6% | $19M-58.7% | $52M-7.1% | $31M-58.1% | $63M-3.1% | |
| Marketing | $20M0.0% | $14M0.0% | $21M+31.3% | $18M+100% | $20M+122% | |
| Midstream | $86M-4.4% | $91M+2.2% | $91M+23.0% | $91M+1.1% | $90M+5.9% | |
| Refining | $514M+1,813% | $0+100% | $476M+325% | $166M+155% | -$30M-110% | |
| Renewables | $182M+567% | -$35M-169% | -$55M-139% | -$4M+73.3% | -$39M0.0% | |
| Selling, general and administrative expenses by Business | ||||||
| Lubricants & Specialties | $42M+16.7% | $43M+13.2% | $36M-5.3% | $43M+10.3% | $36M+5.9% | |
| Marketing | $8M+14.3% | $14M+40.0% | $10M0.0% | $9M+12.5% | $7M-12.5% | |
| Midstream | $2M0.0% | $2M0.0% | $1M-66.7% | $2M0.0% | $2M-50.0% | |
| Refining | $57M+5.6% | $60M-7.7% | $53M-3.6% | $52M+2.0% | $54M+12.5% | |
| Renewables | $1M0.0% | $2M+100% | $1M-50.0% | $0-100% | $1M0.0% | |
| Cost of Goods and Service, Excluding Depreciation, Depletion, and Amortization by Business | ||||||
| Lubricants & Specialties | $524M+1.4% | $502M-1.4% | $541M-5.1% | $549M-7.7% | $517M-7.2% | |
| Marketing | $756M+16.0% | $696M-4.4% | $860M-6.3% | $792M-13.9% | $652M-13.4% | |
| Midstream | $59M+28.3% | $58M0.0% | $50M-15.3% | $45M-11.8% | $46M0.0% | |
| Refining | $5.56B+1.3% | $5.57B-5.7% | $5.77B-10.1% | $5.66B-16.1% | $5.49B-4.2% | |
| Renewables | $132M-35.6% | $277M+18.9% | $309M+16.6% | $236M-2.5% | $205M-20.2% | |
| Cost, Direct Material by Business | ||||||
| Lubricants & Specialties | $450M-0.7% | $429M-3.4% | $470M-7.7% | $486M-8.5% | $453M-8.1% | |
| Marketing | $756M+16.0% | $696M-4.4% | $860M-6.3% | $792M-13.9% | $652M-13.4% | |
| Midstream | $0— | $0— | $0— | $0— | $0— | |
| Refining | $5.69B+10.7% | $4.78B-11.6% | $5.28B-7.9% | $5.05B-19.8% | $5.14B-6.1% | |
| Renewables | $178M-2.7% | $247M+11.3% | $267M+12.7% | $238M+8.2% | $183M-20.4% | |
| Operating expenses by Business | ||||||
| Lubricants & Specialties | $74M+15.6% | $73M+12.3% | $71M+16.4% | $63M-1.6% | $64M0.0% | |
| Marketing | $0— | $0— | $0— | $0— | $0— | |
| Midstream | $59M+28.3% | $58M0.0% | $50M-15.3% | $45M-11.8% | $46M0.0% | |
| Refining | $468M+1.5% | $476M-5.7% | $447M-7.8% | $441M-1.8% | $461M-2.3% | |
| Renewables | $22M-4.3% | $23M-4.2% | $22M-12.0% | $22M-12.0% | $23M-11.5% | |
| 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-421% | $313M+3,230% | $46M-76.9% | $172M— | -$116M+47.3% | |
| Renewables | -$68M-6,700% | $7M+154% | $20M+567% | -$24M-700% | -$1M-200% | |
| Lower of cost or market inventory valuation adjustments by Business | ||||||
| Refining | -$604M-421% | $313M+3,169% | $46M-76.9% | $172M— | -$116M+47.4% | |
| Renewables | -$68M-6,700% | $7M+156% | $20M+471% | -$24M-674% | -$1M-183% | |
| Depreciation, Depletion and Amortization by Business | ||||||
| Lubricants & Specialties | $24M+9.1% | $24M+4.3% | $26M+18.2% | $22M-4.3% | $22M0.0% | |
| Marketing | $8M+14.3% | $8M0.0% | $7M+16.7% | $7M+16.7% | $7M+16.7% | |
| Midstream | $19M+5.6% | $19M-5.0% | $18M0.0% | $19M+26.7% | $18M-10.0% | |
| Refining | $145M+5.8% | $138M+4.5% | $139M+13.0% | $134M+9.8% | $137M+17.1% | |
| Renewables | $19M-17.4% | $22M+29.4% | $22M+4.8% | $26M+30.0% | $23M+15.0% | |
| CapEx by Business | ||||||
| Lubricants & Specialties | $6M-40.0% | $17M-10.5% | $8M-27.3% | $11M+57.1% | $10M+100% | |
| Marketing | $18M+200% | $13M-31.6% | $17M+30.8% | $11M-15.4% | $6M-25.0% | |
| Midstream | $12M+33.3% | $13M0.0% | $9M-43.8% | $12M+9.1% | $9M+12.5% | |
| Refining | $64M+10.3% | $77M-27.4% | $79M+11.3% | $71M+97.2% | $58M+5.5% | |
| Renewables | $1M0.0% | $2M0.0% | $0-100% | $0-100% | $1M-66.7% | |
| Inventory Valuation Reserves by Business | ||||||
| Refining | $0-100% | $604M+220% | $291M+46.4% | $245M+1,014% | $73M— | |
| Renewables | $34M-65.7% | $102M+2.0% | $95M-15.6% | $75M-31.3% | $99M-11.8% | |
| Sales and other revenues (Note 3) by Product | ||||||
| Asphalt, fuel oil and other products | $393M+23.2% | $313M-83.8% | $401M-25.7% | $393M-30.9% | $319M-34.0% | |
| Excess crude oil revenues | $429M+12.0% | $213M-86.4% | $394M+9.4% | $345M-21.1% | $383M+43.4% | |
| Lubricants and specialty products | $586M-1.8% | $531M-78.1% | $596M-2.3% | $583M-9.5% | $597M-2.8% | |
| RIN | $76M-29.3% | $107.5M— | $107.5M— | $107.5M— | $107.5M— | |
| Transportation and logistics services | $31M+6.9% | $34M-68.2% | $29M+3.6% | $29M+7.4% | $29M+26.1% | |
| Transportation fuels | $5.51B+11.0% | $4.96B-77.7% | $5.67B+1.5% | $5.34B-12.4% | $4.96B-10.7% |
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.
