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HF Sinclair beats quarterly profit estimates on lubricants unit's growth
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(Reuters) -HF Sinclair on Thursday beat third-quarter profit estimates on strong results from its lubricants and specialty products segment.
Core profit from the segment jumped to $118.4 million in the quarter, compared with $15.2 million reported last year.
The company's lubricants and specialty products segment is the integrated business of processing feedstocks into base oils and processing base oils into finished lubricant products along with the packaging, distribution and sales to customers.
The company reported an adjusted profit of $4.06 per share for the quarter ended Sept. 30, compared with analysts' average estimate of $3.67, according to LSEG data.
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