HFC - HollyFrontier stock falls 9% on refiner's poor Q4 results

HollyFrontier (NYSE:HFC) stock fell 9% despite the firm reporting Q4 results that topped Street estimates. HFC said its Q4 results were impacted by heavy refining maintenance and weather-related downtime. Q4 crude throughput was ~421K barrels per day (BPD), below HFC's initial guidance of 450K-470K BPD. At Dec. 31, HFC's cash and cash equivalents stood at $234.4M, a $1.25B decrease over $1.48B at Sept. 30, inclusive of the Puget Sound Refinery purchase. HFC's consolidated debt was $3.07B.  In a post-earnings call, CEO Michael Jennings said HFC expects crude throughput of 490K-510K BPD within the refining segment for Q1. Guidance reflects impacts of weather-related downtime at Puget Sound refinery, a scheduled turnaround at the Woods Cross refinery, and maintenance activities at the Navajo refinery throughout Q1. Jennings said demand for transportation fuels will likely strengthen as the global economy recovers from COVID-19. HFC expects base oil prices and margins to continue to decline through Q1,

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HollyFrontier stock falls 9% on refiner's poor Q4 results