HF Sinclair Corporation (DINO) saw its stock plummet 7.5% in the pre-market trading session on Thursday, following the company's report of a bigger-than-expected loss for the fourth quarter of 2024.
The independent energy company reported a quarterly adjusted loss of $1.02 per share, missing analysts' expectations of a loss of $0.90 per share. The wider loss was primarily attributed to lower refining margins and a rise in global refining capacity.
HF Sinclair's revenue of $6.5 billion also fell short of Wall Street's estimates of $6.94 billion, reflecting a 15.14% decrease from the same period last year. The company's adjusted EBITDA came in at $28 million, lower than the consensus estimate of $34 million. Additionally, the refiner reported a pretax loss of $230 million, significantly worse than the expected loss of $51.8 million.
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