HFC - HollyFrontier Foresees Strong Long-Term Demand For Renewable Diesel

Merchant refiner HollyFrontier (HFC) gave its investors a pleasant surprise last week when it reported Q2 earnings that substantially beat the consensus estimates on both lines despite June's resurgence of the COVID-19 pandemic. The company's share price, which had fallen by more than 13% since I wrote about its worsening earnings outlook in late June, has recouped much of its summer losses in the wake of the Q2 report's release (see figure).

HollyFrontier reported Q2 adjusted EPS of -$0.25 on revenue of $2.1 billion. While both numbers were down sharply

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