Refining Margin Squeeze Hits HF Sinclair's Q2 Bottom Line: Details
Written by Emily J. Thompson, Senior Investment Analyst
Updated: Aug 01 2024
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Source: Benzinga
Financial Performance: HF Sinclair Corporation reported flat revenues of $7.845 billion for Q2 FY24, with a significant 53% drop in adjusted EBITDA to $405.8 million, primarily due to reduced refinery margins. However, adjusted EPS of $0.78 exceeded expectations.
Dividends and Future Outlook: The company declared a dividend of $0.50 per share, payable on September 5, and highlighted progress in operational efficiency and strategic initiatives across its business segments, despite a 3.81% decline in share price.
Analyst Views on FXN
Wall Street analysts forecast FXN stock price to rise over the next 12 months. According to Wall Street analysts, the average 1-year price target for FXN is USD with a low forecast of USD and a high forecast of USD. However, analyst price targets are subjective and often lag stock prices, so investors should focus on the objective reasons behind analyst rating changes, which better reflect the company's fundamentals.
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Current: 17.600
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Current: 17.600
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About the author
Emily J. Thompson
Emily J. Thompson, a Chartered Financial Analyst (CFA) with 12 years in investment research, graduated with honors from the Wharton School. Specializing in industrial and technology stocks, she provides in-depth analysis for Intellectia’s earnings and market brief reports.
