- HollyFrontier (HFC) Q2 earnings fell 48% as refinery margins narrowed amid lower production, but says the proximity of its refineries to U.S. crude-producing regions would keep refining margins healthy.
- Refinery gross margin dropped 28% to $20.28/bbl from $27.43 a year ago.
- Planned and unplanned maintenance at its Tulsa, El Dorado and Cheyenne refineries contributed to lower production.
- Declares a special dividend of $0.50/share in addition to the regular $0.30 quarterly dividend.
- Shares -2.8% premarket.
More on HollyFrontier's Q2 results, shares -2.8% premarket
Aug 7 2013, 08:37 ET