HollyFrontier Corp (NYSE:HFC) delivered a profit and missed Wall Street’s expectations, BUT beat the revenue expectation. The revenue beat is a positive sign to shareholders seeking high growth out of the company.
HollyFrontier Corp Earnings Cheat Sheet
Results: Adjusted Earnings Per Share increased 40.52% to $1.63 in the quarter versus EPS of $1.16 in the year-earlier quarter.
Revenue: Decreased 4.56% to $4.71 billion from the year-earlier quarter.
Actual vs. Wall St. Expectations: reported adjusted EPS income of $1.63 per share. By that measure, the company missed the mean analyst estimate of $1.73. It beat the average revenue estimate of $4.59 billion.
Quoting Management: HollyFrontier’s President & CEO, Mike Jennings, commented, “We are pleased with our first quarter results. Planned turnarounds resulted in overall lower production levels for the quarter, but strong refined product margins helped drive a solid year-over-year increase in first quarter earnings. Significant planned refinery maintenance was performed at both the El Dorado and Navajo refineries during the quarter, and that work has since been completed. Looking forward into the summer driving season, our margin outlook continues to be positive. We remain focused on total shareholder return while maintaining a strong balance sheet.”
Key Stats (on next page)…