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HollyFrontier posts higher Q2 adjusted net income as revenues rise

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HollyFrontier posts higher Q2 adjusted net income as revenues rise

HollyFrontier Corp. on Aug. 1 reported adjusted net income attributable to its stockholders of $372.3 million, or $2.18 per share, for the second quarter, up from $258.9 million, or $1.45 per share, a year ago.

The Texas-based refiner beat the S&P Global Market Intelligence normalized consensus EPS estimate of $1.63 for the quarter.

On a GAAP basis, the company had a net income attributable to HollyFrontier stockholders of $196.9 million, down from $345.5 million in the prior-year period.

Sales and other revenues totaled $4.78 billion for the quarter, topping $4.47 billion a year earlier.

President and CEO George Damiris said the results were driven by strong gasoline and diesel margins.