HF Sinclair Corp
For the period ended Oct 28, 2026. Filed Oct 28, 2026.
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Oct 28, 2026 · Filed Oct 28, 2026
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Contents
EX-99.1 · Refining Segment Operating Data
Refining Segment Operating Data
The following tables set forth information, including non-GAAP (generally accepted accounting principles) performance measures, about our consolidated refinery operations. Adjusted refinery gross margin per produced barrel sold is total Refining segment gross margin plus Lower of cost or market inventory valuation adjustments, Depreciation and amortization and Operating expenses, divided by sales volumes of produced refined products. This margin measure does not include the non-cash effects of Lower of cost or market inventory valuation adjustments, which relate to inventory held at the end of the period. Reconciliations to amounts reported under GAAP are provided under “Reconciliations to Amounts Reported Under Generally Accepted Accounting Principles” below.
The disaggregation of our refining geographic operating data is presented in two regions, Mid-Continent and West, to best reflect the economic drivers of our refining operations. The Mid-Continent region is comprised of the El Dorado and Tulsa refineries. The West region is comprised of the Puget Sound, Navajo, Woods Cross, Parco and Casper refineries.
| Three Months Ended September 30, | Nine Months Ended September 30, | |||
|---|---|---|---|---|
| 2026 | 2025 | 2026 | 2025 | |
| Mid-Continent Region | ||||
| Crude charge (BPD) (1) | 250,340 | 280,240 | 262,170 | 264,580 |
| Refinery throughput (BPD) (2) | 268,820 | 296,220 | 279,420 | 280,920 |
| Sales of produced refined products (BPD) (3) | 243,520 | 281,040 | 260,900 | 265,300 |
| Refinery utilization (4) | 96.3% | 107.8% | 100.8% | 101.8% |
| Average per produced barrel sold: (5) | ||||
| Gross margin (6) | $42.47 | $8.08 | $19.68 | $4.01 |
| Adjusted refinery gross margin (7) | $53.38 | $17.50 | $24.50 | $13.71 |
| Less: operating expenses (8) | 8.59 | 6.20 | 7.65 | 6.52 |
| Adjusted refinery gross margin, less operating expenses | $44.79 | $11.30 | $16.85 | $7.19 |
| Operating expenses per throughput barrel (9) | $7.78 | $5.88 | $7.14 | $6.15 |
| Feedstocks: | ||||
| Sweet crude oil | 52% | 52% | 53% | 51% |
| Sour crude oil | 26% | 27% | 26% | 25% |
| Heavy sour crude oil | 15% | 16% | 15% | 18% |
| Other feedstocks and blends | 7% | 5% | 6% | 6% |
| Total | 100% | 100% | 100% | 100% |
| Sales of produced refined products: | ||||
| Gasolines | 50% | 50% | 50% | 51% |
| Diesel fuels | 30% | 32% | 31% | 32% |
| Jet fuels | 8% | 7% | 8% | 7% |
| Fuel oil | 1% | 1% | 1% | 1% |
| Asphalt | 5% | 4% | 4% | 3% |
| Base oils | 4% | 4% | 4% | 4% |
| LPG and other | 2% | 2% | 2% | 2% |
| Total | 100% | 100% | 100% | 100% |
| Three Months Ended September 30, | Nine Months Ended September 30, | |||
|---|---|---|---|---|
| 2026 | 2025 | 2026 | 2025 | |
| West Region | ||||
| Crude charge (BPD) (1) | 363,720 | 358,810 | 360,100 | 355,910 |
| Refinery throughput (BPD) (2) | 391,160 | 384,860 | 386,610 | 381,960 |
| Sales of produced refined products (BPD) (3) | 400,020 | 380,100 | 391,880 | 378,890 |
| Refinery utilization (4) | 87.0% | 85.8% | 86.1% | 85.1% |
| Average per produced barrel sold: (5) | ||||
| Gross margin (6) | $42.29 | $9.30 | $24.47 | $4.82 |
| Adjusted refinery gross margin (7) | $54.73 | $20.38 | $33.87 | $16.02 |
| Less: operating expenses (8) | 9.91 | 8.18 | 9.08 | 8.48 |
| Adjusted refinery gross margin, less operating expenses | $44.82 | $12.20 | $24.79 | $7.54 |
| Operating expenses per throughput barrel (9) | $10.14 | $8.08 | $9.21 | $8.41 |
| Feedstocks: | ||||
| Sweet crude oil | 29% | 33% | 29% | 32% |
| Sour crude oil | 47% | 44% | 48% | 45% |
| Heavy sour crude oil | 11% | 11% | 10% | 11% |
| Wax crude oil | 6% | 5% | 6% | 5% |
| Other feedstocks and blends | 7% | 7% | 7% | 7% |
| Total | 100% | 100% | 100% | 100% |
| Sales of produced refined products: | ||||
| Gasolines | 50% | 51% | 51% | 52% |
| Diesel fuels | 30% | 32% | 30% | 33% |
| Jet fuels | 8% | 6% | 7% | 6% |
| Fuel oil | 2% | 2% | 3% | 2% |
| Asphalt | 3% | 3% | 2% | 2% |
| LPG and other | 7% | 6% | 7% | 5% |
| Total | 100% | 100% | 100% | 100% |
| Consolidated | ||||
| Crude charge (BPD) (1) | 614,060 | 639,050 | 622,270 | 620,490 |
| Refinery throughput (BPD) (2) | 659,980 | 681,080 | 666,030 | 662,880 |
| Sales of produced refined products (BPD) (3) | 643,540 | 661,140 | 652,780 | 644,190 |
| Refinery utilization (4) | 90.6% | 94.3% | 91.8% | 91.5% |
| Average per produced barrel sold: (5) | ||||
| Gross margin (6) | $42.36 | $8.78 | $22.56 | $4.49 |
| Adjusted refinery gross margin (7) | $54.22 | $19.16 | $30.12 | $15.07 |
| Less: operating expenses (8) | 9.41 | 7.34 | 8.51 | 7.67 |
| Adjusted refinery gross margin, less operating expenses | $44.81 | $11.82 | $21.61 | $7.40 |
| Operating expenses per throughput barrel (9) | $9.18 | $7.12 | $8.34 | $7.45 |
| Three Months Ended September 30, | Nine Months Ended September 30, | |||
|---|---|---|---|---|
| 2026 | 2025 | 2026 | 2025 | |
| Consolidated | ||||
| Feedstocks: | ||||
| Sweet crude oil | 39% | 42% | 39% | 40% |
| Sour crude oil | 39% | 36% | 39% | 37% |
| Heavy sour crude oil | 12% | 13% | 12% | 14% |
| Wax crude oil | 3% | 3% | 3% | 3% |
| Other feedstocks and blends | 7% | 6% | 7% | 6% |
| Total | 100% | 100% | 100% | 100% |
| Sales of produced refined products: | ||||
| Gasolines | 50% | 51% | 51% | 52% |
| Diesel fuels | 30% | 31% | 31% | 31% |
| Jet fuels | 8% | 7% | 7% | 7% |
| Fuel oil | 1% | 2% | 2% | 2% |
| Asphalt | 4% | 3% | 3% | 2% |
| Base oils | 2% | 2% | 2% | 2% |
| LPG and other | 5% | 4% | 4% | 4% |
| Total | 100% | 100% | 100% | 100% |
(1)Crude charge represents the barrels per day of crude oil processed at our refineries.
(2)Refinery throughput represents the barrels per day of crude and other refinery feedstocks input to the crude units and other conversion units at our refineries.
(3)Represents barrels sold of produced refined products at our refineries (including Asphalt and intersegment sales) and does not include volumes of refined products purchased for resale or volumes of excess crude oil sold.
(4)Represents crude charge divided by total crude capacity (BPSD). Our consolidated crude capacity is 678,000 BPSD.
(5)Represents the average amount per produced barrel sold, which is a non-GAAP measure. Reconciliations to amounts reported under GAAP are provided under “Reconciliations to Amounts Reported Under Generally Accepted Accounting Principles” below.
(6)Gross margin represents total Refining segment Sales and other revenues less Cost of materials and other, Lower of cost or market inventory valuation adjustments, Operating expenses and Depreciation and amortization, divided by sales volumes of produced refined products.
(7)Adjusted refinery gross margin is a non-GAAP measure. Reconciliations to amounts reported under GAAP are provided under “Reconciliations to Amounts Reported Under Generally Accepted Accounting Principles” below.
(8)Represents total Refining segment Operating expenses, exclusive of Depreciation and amortization, divided by sales volumes of produced refined products.
(9)Represents total Refining segment Operating expenses, exclusive of Depreciation and amortization, divided by refinery throughput.
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