U.S. refiner HollyFrontier Corporation reported third-quarter 2020 net loss per share (excluding special items) of 41 cents, narrower than the Zacks Consensus Estimate of a loss of 54 cents. The outperformance reflects stronger-than-expected refining throughput and robust results from the Lubricants and Specialty Products division.
However, the bottom line compared unfavorably with the year-ago adjusted profit of $1.68. The underperformance mainly stemmed weak refining margins.
Revenues of $2.8 billion beat the Zacks Consensus Estimate of $2.4 billion but slumped 36.3% from the third-quarter 2019 sales of $4.4 billion.
Balance Sheet
As of Sep 30, HollyFrontier had approximately $1.5 billion in cash and cash equivalents, and $3.2 billion in long-term debt, representing a debt-to-capitalization of 35.1%.
During the quarter, the company paid $57.2 million in dividends.
Zacks Rank & Stock Picks
HollyFrontier holds a Zacks Rank #4 (Sell).
Some better-ranked players in the energy space are Antero Midstream Corporation (AM - Free Report) and CrossAmerica Partners LP (CAPL - Free Report) that sport a Zacks Rank #2 (Buy).
You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.
Antero Midstream has an excellent earnings surprise history, having surpassed estimates in each of the last four quarters by 21.47%, on average
The 2020 Zacks Consensus Estimate for CrossAmerica Partners indicates 376.5% earnings per unit growth over 2019.
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U.S. refiner HollyFrontier Corporation reported third-quarter 2020 net loss per share (excluding special items) of 41 cents, narrower than the Zacks Consensus Estimate of a loss of 54 cents. The outperformance reflects stronger-than-expected refining throughput and robust results from the Lubricants and Specialty Products division.
However, the bottom line compared unfavorably with the year-ago adjusted profit of $1.68. The underperformance mainly stemmed weak refining margins.
Revenues of $2.8 billion beat the Zacks Consensus Estimate of $2.4 billion but slumped 36.3% from the third-quarter 2019 sales of $4.4 billion.
Balance Sheet
As of Sep 30, HollyFrontier had approximately $1.5 billion in cash and cash equivalents, and $3.2 billion in long-term debt, representing a debt-to-capitalization of 35.1%.
During the quarter, the company paid $57.2 million in dividends.
Zacks Rank & Stock Picks
HollyFrontier holds a Zacks Rank #4 (Sell).
Some better-ranked players in the energy space are Antero Midstream Corporation (AM - Free Report) and CrossAmerica Partners LP (CAPL - Free Report) that sport a Zacks Rank #2 (Buy).
You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.
Antero Midstream has an excellent earnings surprise history, having surpassed estimates in each of the last four quarters by 21.47%, on average
The 2020 Zacks Consensus Estimate for CrossAmerica Partners indicates 376.5% earnings per unit growth over 2019.
These Stocks Are Poised to Soar Past the Pandemic
The COVID-19 outbreak has shifted consumer behavior dramatically, and a handful of high-tech companies have stepped up to keep America running. Right now, investors in these companies have a shot at serious profits. For example, Zoom jumped 108.5% in less than 4 months while most other stocks were sinking.
Our research shows that 5 cutting-edge stocks could skyrocket from the exponential increase in demand for “stay at home” technologies. This could be one of the biggest buying opportunities of this decade, especially for those who get in early.
See the 5 high-tech stocks now>>
Zacks Names "Single Best Pick to Double"
From thousands of stocks, 5 Zacks experts each have chosen their favorite to skyrocket +100% or more in months to come. From those 5, Director of Research Sheraz Mian hand-picks one to have the most explosive upside of all.
It’s a little-known chemical company that’s up 65% over last year, yet still dirt cheap. With unrelenting demand, soaring 2022 earnings estimates, and $1.5 billion for repurchasing shares, retail investors could jump in at any time.
This company could rival or surpass other recent Zacks’ Stocks Set to Double like Boston Beer Company which shot up +143.0% in little more than 9 months and NVIDIA which boomed +175.9% in one year.
Free: See Our Top Stock and 4 Runners Up >>
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