The 10-second takeaway
For the quarter ended June 30 (Q2), HollyFrontier missed estimates on revenues and beat expectations on earnings per share.
Compared to the prior-year quarter, revenue increased significantly and GAAP earnings per share improved significantly.
Margins grew across the board.
HollyFrontier reported revenue of $4.81 billion. The six analysts polled by S&P Capital IQ looked for revenue of $5.09 billion on the same basis. GAAP reported sales were 62% higher than the prior-year quarter's $2.97 billion.
Source: S&P Capital IQ. Quarterly periods. Dollar amounts in millions. Non-GAAP figures may vary to maintain comparability with estimates.
EPS came in at $2.39. The 15 earnings estimates compiled by S&P Capital IQ forecast $2.16 per share. GAAP EPS of $2.39 for Q2 were 34% higher than the prior-year quarter's $1.79 per share.
Source: S&P Capital IQ. Quarterly periods. Non-GAAP figures may vary to maintain comparability with estimates.
For the quarter, gross margin was 18.8%, 600 basis points better than the prior-year quarter. Operating margin was 16.9%, 580 basis points better than the prior-year quarter. Net margin was 10.3%, 380 basis points better than the prior-year quarter.
Next quarter's average estimate for revenue is $4.82 billion. On the bottom line, the average EPS estimate is $1.69.
Next year's average estimate for revenue is $18.98 billion. The average EPS estimate is $5.93.
The stock has a five-star rating (out of five) at Motley Fool CAPS, with 718 members out of 751 rating the stock outperform, and 33 members rating it underperform. Among 200 CAPS All-Star picks (recommendations by the highest-ranked CAPS members), 194 give HollyFrontier a green thumbs-up, and six give it a red thumbs-down.
Of Wall Street recommendations tracked by S&P Capital IQ, the average opinion on HollyFrontier is outperform, with an average price target of $38.08.
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