Skip to main content

HF Sinclair Corp

For the period ended Mar 31, 2026. Filed May 1, 2026.

View on SEC.gov

About this filing

A company's report for each of its first three quarters. The financial statements are not audited. It shows how the business has moved since the last annual report, and what management says changed.

Mar 31, 2026 · Filed May 1, 2026

DINO$97.18-0.6%Stored close · as of Nov 6, 2026
See the whole filing, with its images and exhibits

Cover page

Show cover page

UNITED STATES

SECURITIES AND EXCHANGE COMMISSION

Washington, D.C. 20549

FORM 10-Q

(Mark One)

☒QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934

For the Quarterly Period Ended March 31, 2026

or

☐TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934

For the transition period from __________ to ____________

Commission File Number 001-41325

(Exact name of registrant as specified in its charter)

Delaware87-2092143
(State or other jurisdiction ofincorporation or organization)(I.R.S. Employer Identification No.)
Dallas, Texas75219
(Address of principal executive offices)(Zip Code)

Registrant’s telephone number, including area code:(214)871-3555

(Former name, former address and former fiscal year, if changed since last report)

Securities registered pursuant to Section 12(b) of the Securities Exchange Act of 1934:
Title of each classTrading Symbol(s)Name of each exchange on which registered
Common Stock $0.01 par valueDINONew York Stock Exchange
NYSE Texas, Inc.

Indicate by check mark whether the registrant (1) has filed all reports required to be filed by Section 13 or 15(d) of the Securities Exchange Act of 1934 during the preceding 12 months (or for such shorter period that the registrant was required to file such reports), and (2) has been subject to such filing requirements for the past 90 days. Yes ☒ No☐

Indicate by check mark whether the registrant has submitted electronically every Interactive Data File required to be submitted pursuant to Rule 405 of Regulation S-T (§232.405 of this chapter) during the preceding 12 months (or for such shorter period that the registrant was required to submit such files). Yes ☒ No☐

Indicate by check mark whether the registrant is a large accelerated filer, an accelerated filer, a non-accelerated filer, a smaller reporting company, or an emerging growth company. See the definitions of “large accelerated filer,” “accelerated filer,” “smaller reporting company” and “emerging growth company” in Rule 12b-2 of the Exchange Act.

Large accelerated filer☒Accelerated filer☐Non-accelerated filer☐Smaller reporting company☐
Emerging growth company☐

If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act.☐

Indicate by check mark whether the registrant is a shell company (as defined in Rule 12b-2 of the Exchange Act). Yes☐ No☒

180,275,437 shares of Common Stock, par value $0.01 per share, were outstanding on April 27, 2026.

TABLE OF CONTENTS

Page
Forward-Looking Statements3
Definitions5
PART I - FINANCIAL INFORMATION
Item 1. Financial Statements6
Consolidated Balance Sheets (Unaudited)6
Consolidated Statements of Operations (Unaudited)7
Consolidated Statements of Comprehensive Income (Unaudited)8
Consolidated Statements of Cash Flows (Unaudited)9
Consolidated Statements of Equity (Unaudited)10
Notes to Consolidated Financial Statements (Unaudited):11
Note 1: Description of Business and Basis of Presentation11
Note 2: Cushing Connect Joint Venture12
Note 3: Revenues13
Note 4: Other Income (Expense), Net14
Note 5: Fair Value Measurements15
Note 6: Earnings (Loss) Per Share16
Note 7: Stock-Based Compensation17
Note 8: Inventories17
Note 9: Accrued Liabilities and Other Long-Term Liabilities18
Note 10: Income Taxes19
Note 11: Debt19
Note 12: Derivative Instruments and Hedging Activities20
Note 13: Stockholders’ Equity23
Note 14: Other Comprehensive Income (Loss)23
Note 15: Commitments and Contingencies24
Note 16: Segment Information24
Item 2. Management’s Discussion and Analysis of Financial Condition and Results of Operations27
Overview27
Results of Operations29
Liquidity and Capital Resources37
Critical Accounting Estimates39
Risk Management39
Reconciliations to Amounts Reported Under Generally Accepted Accounting Principles41
Item 3. Quantitative and Qualitative Disclosures About Market Risk45
Item 4. Controls and Procedures46
PART II - OTHER INFORMATION
Item 1. Legal Proceedings47
Item 1A. Risk Factors47
Item 2. Unregistered Sales of Equity Securities and Use of Proceeds48
Item 5. Other Information48
Item 6. Exhibits49
Signatures50
ContentsView on SEC.gov

The text of this filing, as the company filed it with the SEC, without its images or exhibits. This is not investment advice.