- Adjusted EBITDA for Q2 2025 was $665 million, compared to $406 million in Q2 2024, driven by strong performance in Refining with $476 million adjusted EBITDA versus $187 million last year.
- Debt outstanding was $2.7 billion with a debt-to-capital ratio of 22% and net debt-to-capital ratio of 15%.
- HF Sinclair reported second quarter net income attributable to shareholders of $208 million, or $1.10 per diluted share, with adjusted net income of $322 million, or $1.70 per diluted share, up from $150 million, or $0.78 per diluted share in Q2 2024.
- Lubricants & Specialties segment EBITDA decreased to $55 million from $97 million, impacted by lower base oil margins, sales volumes, and a $20 million FIFO charge.
- Marketing segment EBITDA increased to $25 million from $15 million in Q2 2024, driven by higher margins and store mix optimization.
- Midstream segment adjusted EBITDA was $112 million, slightly up from $110 million, benefiting from higher pipeline revenues and lower operating expenses.
- Net cash provided by operations was $587 million, including $179 million of turnaround spend, with capital expenditures of $111 million and a cash balance of $874 million as of June 30, 2025.
- Refining crude oil charge averaged 616,000 barrels per day, down from 635,000 barrels per day in Q2 2024 due to turnaround activities.
- Renewables segment reported adjusted EBITDA of negative $2 million excluding a $24 million inventory valuation benefit, impacted by lower sales volumes and margins.
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