U.S. refining margins are worse than previously thought, Simmons Co. says in lowering its Q4...
U.S. refining margins are worse than previously thought, Simmons Co. says in lowering its Q4 earnings forecasts for the industry. The firm projects Marathon Petroleum's (MPC -3.6%) EPS at zero, down from its earlier estimate of $0.70, and Holly Frontier (HFC -3.2%) will post a $1.20 gain, down from $1.26. Other refiners, including Valero (VLO -3.3%) and Delek (DK -4.7%), also are lower.
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