HF Sinclair reported strong third-quarter 2026 earnings and announced a regular quarterly dividend of $0.525 per share. Separately, the refiner named current President and Chief Operating Officer Steve Ledbetter as its next chief executive, setting up a leadership transition at the start of 2027 while current CEO Franklin Myers remains involved in the company’s planned Lubricants & Specialties separation.
Key details
- HF Sinclair reported third-quarter net income attributable to stockholders of $2.015 billion, or $11.38 per diluted share. Adjusted net income was $2.079 billion, or $11.75 per diluted share.
- Reported EBITDA was $2.954 billion; adjusted EBITDA was $2.984 billion.
- The company returned $572 million to stockholders during the quarter through dividends and share repurchases.
- The new regular quarterly dividend is $0.525 per share.
- Ledbetter, who is already president and COO, will become CEO and president effective January 1, 2027. The board expects to expand its membership and appoint him as a director at a later date.
- Myers will continue as CEO until the handover date to support the transition. After that, he will remain with HF Sinclair as executive chairperson until the planned separation of the Lubricants & Specialties segment is completed. In that role, he will advise on the separation.
- The board has not approved changes to Ledbetter’s compensation in connection with his appointment.
What changes
The CEO succession is an internal promotion, with Ledbetter moving from president and COO to CEO and president. Myers’s continuing role as executive chairperson is specifically tied to advising on the planned Lubricants & Specialties separation; the announcement does not give a completion date for that process.