Filing Flows › HF Sinclair (DINO) › Q3 2025
HF Sinclair (DINO) Q3 2025 earnings results (third quarter 2025)
10-Q filed Oct 30, 2025
HF Sinclair (DINO) reported revenue of $7.3B for the third quarter 2025 (Q3 2025), +0.6% from a year earlier and +7% from the quarter before. Operating margin was 7.8%, net earnings $405M (5.6% of revenue).
HF Sinclair, Q3 2025: revenue $7.3B (+0.6% year over year), operating margin 7.8%, net earnings $405M, operating cash flow $809M. The chart follows the revenue to costs, profit and cash.
| Q3 2025 | Amount | Q/Q | Y/Y |
|---|---|---|---|
| Revenue | $7.3B | +7% | +0.6% |
| Operating profit | $564M | +105% | — |
| Net earnings | $405M | +93% | — |
| Operating cash flow | $809M | +38% | +14% |
| Free cash flow | $688M | +45% | +18% |
What changed
Revenue was $7.3B in Q3 2025, up 1% year over year and up 7% from the previous quarter. Transportation fuels was the largest line at 78% of revenue. Transportation fuels added $0.08B year over year (up 1%), 186% of the total change. Asphalt, fuel oil and other products declined 26%.
Operating profit was $0.56B, a 7.8% margin (up 9.5 points year over year). Total costs fell 9% while revenue rose 1%. Net earnings were $0.40B. The effective tax rate was 23.3%.
Operating cash flow was $0.81B (up 14% year over year), 200% of net earnings. Non-cash charges added back $0.23B of depreciation and amortization and $0.01B of share-based compensation. Working capital and other items added $0.17B. Capital expenditures of $0.12B left free cash flow of $0.69B.
Questions
What was HF Sinclair's revenue in the third quarter 2025?
HF Sinclair (DINO) reported revenue of $7.3B for the third quarter 2025 (Q3 2025), +0.6% from a year earlier and +7% from the quarter before.
Was HF Sinclair profitable in the third quarter 2025?
Operating profit was $564M (7.8% of revenue) and net earnings $405M.
Source: HF Sinclair 10-Q on SEC EDGAR.