Filing Flows › HF Sinclair (DINO) › Q2 2026 › vs Q1 2026
HF Sinclair (DINO) Q2 2026 vs Q1 2026 (quarter over quarter)
HF Sinclair's revenue rose $3.3B (+46%) from $7.1B in Q1 2026 to $10.4B in Q2 2026. The biggest changes: Total refined product revenues +$3.3B (+51%); Excess crude oil revenues −$119M (-28%); Other revenues +$85.0M (+47%). Operating margin 11.2% against 11.9% (-0.6 pts).
HF Sinclair, Q2 2026: revenue $10.4B (+53% year over year), operating margin 11.2%, net earnings $893M, operating cash flow $1.5B. The chart draws each line against Q1 2026, the increases inside each band.
Margins
| Q2 2026 | Q1 2026 | Change | |
|---|---|---|---|
| Operating margin | 11.2% | 11.9% | -0.6 pts |
| Net margin | 8.6% | 9.1% | -0.5 pts |
| Free cash flow margin | 13.4% | 5.0% | +8.4 pts |
Every line
| Line | Q2 2026 | Q1 2026 | Change | % |
|---|---|---|---|---|
| Transportation fuels | $8.3B | $5.5B | $2.8B | +51% |
| Lubricants and specialty products | $879M | $586M | $293M | +50% |
| Asphalt, fuel oil and other products | $587M | $393M | $194M | +49% |
| Total refined product revenues | $9.8B | $6.5B | $3.3B | +51% |
| Excess crude oil revenues | $310M | $429M | −$119M | -28% |
| Other revenues | $264M | $179M | $85.0M | +47% |
| Transportation and logistics services | $32.0M | $31.0M | $1.0M | +3% |
| Revenue | $10.4B | $7.1B | $3.3B | +46% |
| Operating profit | $1.2B | $847M | $321M | +38% |
| Costs & expenses | $9.2B | $6.3B | $2.9B | +47% |
| Pre-tax earnings | $1.2B | $839M | $333M | +40% |
| Cost of revenue | $8.8B | $5.9B | $2.9B | +49% |
| SG&A | $130M | $115M | $15.0M | +13% |
| Other operating costs | $275M | $229M | $46.0M | +20% |
| Net earnings | $893M | $650M | $243M | +37% |
| Income tax | $279M | $189M | $90.0M | +48% |
| Depreciation & amortization | $228M | $229M | −$1.0M | -0.4% |
| Share-based compensation | $8.0M | $7.0M | $1.0M | +14% |
| Working capital & other | $381M | −$429M | $810M | — |
| Operating cash flow | $1.5B | $457M | $1.1B | +230% |
| Free cash flow (OCF − capex) | $1.4B | $355M | $1.0B | +292% |
| Capital expenditures | $118M | $102M | $16.0M | +16% |
Questions
How much did HF Sinclair's revenue grow quarter over quarter in Q2 2026?
HF Sinclair's revenue rose $3.3B (+46%) from $7.1B in Q1 2026 to $10.4B in Q2 2026.
What drove HF Sinclair's revenue change in Q2 2026?
Total refined product revenues +$3.3B (+51%); Excess crude oil revenues −$119M (-28%); Other revenues +$85.0M (+47%).