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How HF Sinclair (DINO) makes money
HF Sinclair (DINO) made $10.9B of revenue in the third quarter 2026 (Q3 2026), +50% from a year earlier. Total refined product revenues brought in $10.1B (93%); Excess crude oil revenues brought in $413M (4%); Other revenues brought in $298M (3%). Of every dollar of revenue, 25¢ was left as operating profit, 19¢ was left as net earnings.
Drawing the Sankey…
Revenue by segment, Q3 2026
| Segment | Revenue | Share | Q/Q | Y/Y |
|---|---|---|---|---|
| Total refined product revenues | $10.1B | 93.1% | +3% | +52% |
| ↳ Transportation fuels | $8.7B | 79.9% | +4% | +53% |
| ↳ Lubricants and specialty products | $851M | 7.8% | -3% | +43% |
| ↳ Asphalt, fuel oil and other products | $583M | 5.4% | -0.7% | +45% |
| Excess crude oil revenues | $413M | 3.8% | +33% | +5% |
| Other revenues | $298M | 2.7% | +13% | +82% |
| Transportation and logistics services | $34.0M | 0.3% | +6% | +17% |
Where each dollar of revenue goes
| Line | Q3 2026 | % of revenue |
|---|---|---|
| Revenue | $10.9B | 100.0% |
| Operating profit | $2.7B | 24.6% |
| Income tax | $632M | 5.8% |
| Net earnings | $2.0B | 18.6% |
| Operating cash flow | $1.8B | 16.4% |
| Free cash flow | $1.6B | 15.2% |
Revenue, quarter by quarter
| Quarter | Revenue | Y/Y |
|---|---|---|
| Q3 2026 | $10.9B | +50% |
| Q2 2026 | $10.4B | +53% |
| Q1 2026 | $7.1B | +12% |
| Q4 2025 | $6.5B | -0.6% |
| Q3 2025 | $7.3B | +0.6% |
| Q2 2025 | $6.8B | -14% |
| Q1 2025 | $6.4B | -9% |
From HF Sinclair's 10-Q filed Oct 28, 2026 (on EDGAR).
Questions
How does HF Sinclair make money?
HF Sinclair (DINO) made $10.9B of revenue in the third quarter 2026 (Q3 2026), +50% from a year earlier. Total refined product revenues brought in $10.1B (93%); Excess crude oil revenues brought in $413M (4%); Other revenues brought in $298M (3%). Of every dollar of revenue, 25¢ was left as operating profit, 19¢ was left as net earnings.
What is HF Sinclair's biggest business?
Total refined product revenues: $10.1B in the third quarter 2026, 93% of revenue, +52% from a year earlier.
What is HF Sinclair's profit margin?
Net earnings were $2.0B, 18.6% of revenue, in the third quarter 2026; the operating margin was 24.6%.
Updated Nov 8, 2026. Read automatically from SEC filings and public data; errors are possible. Not investment advice.