Advertisement
U.S. markets closed
  • S&P 500

    5,254.35
    +5.86 (+0.11%)
     
  • Dow 30

    39,807.37
    +47.29 (+0.12%)
     
  • Nasdaq

    16,379.46
    -20.06 (-0.12%)
     
  • Russell 2000

    2,124.55
    +10.20 (+0.48%)
     
  • Crude Oil

    83.11
    -0.06 (-0.07%)
     
  • Gold

    2,254.80
    +16.40 (+0.73%)
     
  • Silver

    25.10
    +0.18 (+0.74%)
     
  • EUR/USD

    1.0777
    -0.0016 (-0.15%)
     
  • 10-Yr Bond

    4.2060
    +0.0100 (+0.24%)
     
  • dólar/libra

    1.2624
    +0.0002 (+0.02%)
     
  • USD/JPY

    151.3520
    -0.0200 (-0.01%)
     
  • Bitcoin USD

    69,995.73
    -395.53 (-0.56%)
     
  • CMC Crypto 200

    885.54
    0.00 (0.00%)
     
  • FTSE 100

    7,952.62
    +20.64 (+0.26%)
     
  • Nikkei 225

    40,369.44
    +201.37 (+0.50%)
     

Free Research Report as HollyFrontier’s Revenue Surged 31%; Adjusted EPS Rocketed 151%

LONDON, UK / ACCESSWIRE / December 12, 2017 / Active-Investors free earnings report on HollyFrontier Corp. (NYSE: HFC) has freshly been issued to its members, and you can also sign up to view this report at www.active-investors.com/registration-sg/?symbol=HFC. HollyFrontier reported its third quarter fiscal 2017 operating results on November 01, 2017. The independent energy Company outperformed top- and bottom-line expectations. Register today and get free access to our complimentary member's area where many more reports are available:

www.active-investors.com/registration-sg

Active-Investors.com is focused on giving you timely information and the inside line on companies that matter to you. This morning, HollyFrontier most recent news is on our radar and we have decided to include it on our blog post. Today's free coverage is available at:

www.active-investors.com/registration-sg/?symbol=HFC

Earnings Highlights and Summary

For the quarter ended September 30, 2017, HollyFrontier's revenue surged 31% to $3.72 billion compared to $2.85 billion in Q3 2016. The Company's revenue numbers topped analysts' estimates of $3.54 billion.

During Q3 2017, HollyFrontier's crude oil charges averaged 454,790 barrels per day ("BPD") compared to 443,560 BPD for Q3 2016. On a per barrel basis, the Company's consolidated refinery gross margin was $14.55 per produced barrel, a 48% increase compared to $9.83 for the year-ago corresponding period.

HollyFrontier's total operating expenses for Q3 2017 were $321.7 million compared to $256.2 million for Q3 2016 and include $56.1 million in costs attributable to its PCLI operations. The Company's adjusted EBITDA for the reported period was $454 million, reflecting an increase of 119% on a y-o-y basis, principally driven by higher refinery production and higher realized margins, combined to $23 million of earnings from its Petro-Canada Lubricants business.

For Q3 2017, the Company reported net income attributable to HollyFrontier stockholders of $272.0 million, or $1.53 per diluted share, compared to $74.5 million, or $0.42 per diluted share, for Q3 2016.

The Company's reported quarter results reflected special items that collectively increased net income by a total of $69.6 million. These items include a lower of cost or market inventory valuation adjustment that increased pre-tax earnings by $111.1 million, slightly offset by $4.2 million of pre-tax integration costs related to the Company's Petro-Canada Lubricants Inc. (PCLI) acquisition.

Excluding these items, HollyFrontier's net income for Q3 2017 was $202.4 million, or $1.14 per diluted share, compared to $74.7 million, or $0.42 per diluted share, for Q3 2016, which excludes an after-tax inventory valuation charge of $0.2 million. Adjusted for these items, HollyFrontier's net income for the reported quarter increased $127.7 million on a y-o-y basis driven by both higher sales volumes and refining margins. HollyFrontier's earnings exceeded Wall Street's estimates of $0.89 per share.

HollyFrontier's Segment Results

For Q3 2017, the Refining segment reported revenue of $3.41 billion compared to revenue of $2.83 billion in Q3 2016, reflecting growth of 20% on a y-o-y basis. The segment's net income for the reported quarter soared 238% to $408.74 million versus $120.99 million in the prior year's corresponding quarter.

During Q3 2017, the HEP segment's revenue grew 19% to $110.36 million compared to $92.61 million in Q3 2016. The segment's net income advanced 51% to $43.47 million in the reported quarter versus $28.81 million in the year-ago same period.

Cash Matters

For Q3 2017, HollyFrontier's net cash provided by operations totaled $312.0 million compared to $133.9 million in Q3 2016. During the period, the Company declared and paid a dividend of $0.33 per share to shareholders totaling $58.8 million. At September 30, 2017, HollyFrontier's cash and cash equivalents totaled $630.7 million, reflecting a $170.4 million increase over cash and cash equivalents of $460.3 million at June 30, 2017. Additionally, the Company's consolidated debt was $2.24 billion.

Stock Performance Snapshot

December 11, 2017 - At Monday's closing bell, HollyFrontier's stock advanced 2.01%, ending the trading session at $46.61.

Volume traded for the day: 2.35 million shares.

Stock performance in the last month – up 10.45%; previous three-month period – up 41.33%; past twelve-month period – up 40.94%; and year-to-date – up 42.28%

After yesterday's close, HollyFrontier's market cap was at $8.22 billion.

Price to Earnings (P/E) ratio was at 24.53.

The stock has a dividend yield of 2.83%.

The stock is part of the Basic Materials sector, categorized under the Oil & Gas Refining & Marketing industry. This sector was up 0.8% at the end of the session.

Active-Investors:

Active-Investors (A-I) produces regular sponsored and non-sponsored reports, articles, stock market blogs, and popular investment newsletters covering equities listed on NYSE and NASDAQ and Canadian stocks. A-I has two distinct and independent departments. One department produces non-sponsored analyst certified content generally in the form of press releases, articles and reports covering equities listed on NYSE and NASDAQ and the other produces sponsored content (in most cases not reviewed by a registered analyst), which typically consists of compensated investment newsletters, articles and reports covering listed stocks and micro-caps. Such sponsored content is outside the scope of procedures detailed below.

A-I has not been compensated; directly or indirectly; for producing or publishing this document.

PRESS RELEASE PROCEDURES:

The non-sponsored content contained herein has been prepared by a writer (the "Author") and is fact checked and reviewed by a third-party research service company (the "Reviewer") represented by a credentialed financial analyst [for further information on analyst credentials, please email info@active-investors.com. Rohit Tuli, a CFA® charter-holder (the "Sponsor"), provides necessary guidance in preparing the document templates. The Reviewer has reviewed and revised the content, as necessary, based on publicly available information which is believed to be reliable. Content is researched, written and reviewed on a reasonable effort basis. The Reviewer has not performed any independent investigations or forensic audits to validate the information herein. The Reviewer has only independently reviewed the information provided by the Author according to the procedures outlined by A-I. A-I is not entitled to veto or interfere in the application of such procedures by the third-party research service company to the articles, documents or reports, as the case may be. Unless otherwise noted, any content outside of this document has no association with the Author or the Reviewer in any way.

NO WARRANTY

A-I, the Author, and the Reviewer are not responsible for any error which may be occasioned at the time of printing of this document or any error, mistake or shortcoming. No liability is accepted whatsoever for any direct, indirect or consequential loss arising from the use of this document. A-I, the Author, and the Reviewer expressly disclaim any fiduciary responsibility or liability for any consequences, financial or otherwise arising from any reliance placed on the information in this document. Additionally, A-I, the Author, and the Reviewer do not (1) guarantee the accuracy, timeliness, completeness or correct sequencing of the information, or (2) warrant any results from use of the information. The included information is subject to change without notice.

NOT AN OFFERING

This document is not intended as an offering, recommendation, or a solicitation of an offer to buy or sell the securities mentioned or discussed, and is to be used for informational purposes only. Please read all associated disclosures and disclaimers in full before investing. Neither A-I nor any party affiliated with us is a registered investment adviser or broker-dealer with any agency or in any jurisdiction whatsoever. To download our report(s), read our disclosures, or for more information, visit http://active-investors.com/legal-disclaimer/.

CONTACT

For any questions, inquiries, or comments reach out to us directly. If you're a company we are covering and wish to no longer feature on our coverage list contact us via email and/or phone between 09:30 EDT to 16:00 EDT from Monday to Friday at:

Email: info@active-investors.com

Phone number: 73 29 92 6381

Office Address: 6, Jalan Kia Peng, Kuala Lumpur, 50450 Kuala Lumpur, Wilayah Persekutuan Kuala Lumpur, Malaysia

CFA® and Chartered Financial Analyst® are registered trademarks owned by CFA Institute.

SOURCE: Active-Investors

Advertisement