Management ChangeOct 28, 2026, 06:36 AM
HF Sinclair Appoints Steve Ledbetter CEO; Q3 Earnings Soar
AI Summary
HF Sinclair Corporation announced a significant leadership transition with the appointment of Steve Ledbetter as Chief Executive Officer and President, effective January 1, 2027. Ledbetter will succeed Franklin Myers, who will transition to Executive Chairperson to focus on the planned separation of the Lubricants & Specialties segment. The company also reported strong third quarter 2026 financial results, with Net income of $2,015 million ($11.38 per diluted share) and Adjusted EBITDA of $2,984 million. A regular quarterly dividend of $0.525 per share was declared.
Key Highlights
- Steve Ledbetter appointed CEO and President of HF Sinclair, effective January 1, 2027.
- Franklin Myers to transition from CEO to Executive Chairperson to support separation of Lubricants & Specialties segment.
- HF Sinclair reported Q3 2026 Net income of $2,015 million, or $11.38 per diluted share.
- Adjusted EBITDA for Q3 2026 was $2,984 million, a significant increase from $870 million in Q3 2025.
- Regular quarterly dividend of $0.525 per share declared, payable December 2, 2026.
- Company returned $572 million to stockholders via dividends and share repurchases in Q3 2026.
- Refining segment income before interest and taxes was $2,435 million for Q3 2026, up from $476 million in Q3 2025.
Price Impact
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