HollyFrontier Carries Strong Performance Into 2018 on Continuously Advantageous Market Conditions
Narrow-moat HollyFrontier reported strong first-quarter 2018 results as advantageous market conditions continued to support operations in line with our expectations. Excluding a sizable portion of special items, the largest of which were $104 million in beneficial inventory valuation adjustments and $72 million in RIN costs exemptions, earnings grew to a profit of $137 million versus a net loss of $33 million last year. Good results in Lubricants and HEP were surpassed by a strong performance in...HollyFrontier is a petroleum refiner that produces products such as gasoline, diesel fuel, jet fuel, other lubricant products, and specialty and modified asphalt. The company's segments are: Refining, which involves the purchase and refining of crude oil and wholesale and marketing of refined products; Lubricants and Specialty Products, which includes the production of lubricant products such as base oils, white oils, other products and finished lubricants; and the company's subsidiary, Holly Energy Partners, L.P., which owns and operates logistics and refinery assets consisting of petroleum product and crude oil pipelines, terminals, tankage, loading rack facilities and processing units.
Morningstar, Inc. is a leading provider of independent investment research in North America, Europe, Australia, and Asia. The company offer an extensive line of products and services for individual investors, financial advisors, asset managers, and retirement plan providers and sponsors.
Morningstar provides data on approximately 530,000 investment offerings, including stocks, mutual funds, and similar vehicles, along with real-time global market data on more than 18 million equities, indexes, futures, options, commodities, and precious metals, in addition to foreign exchange and Treasury markets. Morningstar also offers investment management services through its investment advisory subsidiaries and had approximately $185 billion in assets under advisement and management as of June 30, 2016.
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