HollyFrontier (HFC) Misses Q1 EPS by 1c

HollyFrontier (NYSE: HFC) reported Q1 EPS of $0.76, $0.01 worse than the analyst estimate of $0.77. Revenue for the quarter came in at $4.79 billion versus the consensus estimate of $4.18 billion.

For the first quarter, net income attributable to our stockholders decreased by $181.6 million compared to the same period of 2013, principally reflecting lower first quarter refining margins. Refinery gross margins were $14.75 per produced barrel, a 37% decrease compared to $23.32 for the first quarter of 2013. Production levels averaged approximately 436,000 barrels per day (“BPD”) and crude oil charges averaged approximately 416,000 BPD for the current quarter. Operating expenses for the quarter were $274.0 million or $6.29 per barrel compared to $265.1 million or $6.68 per barrel for the first quarter of last year.

For earnings history and earnings-related data on HollyFrontier (HFC) click here.

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