HollyFrontier Looks to Extend Strong Performance Into 2018; Raising FVE, but Shares Fully Valued
HollyFrontier closed out 2017 on a relatively strong note as fourth-quarter earnings were buoyed by strong market conditions, although they fell below market expectations. Earnings excluding a host of special items, most notably a $307 million benefit from tax reform, improved to $125 million from a $10 million loss the year before. While higher earnings from HEP and the addition of the acquired lubricants business contributed, the refining segment was the primary reason for the improvement. Ref...
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