Holly Energy reports lower quarterly earnings but higher year-to-year revenue

Holly Energy Partners, L.P. revealed lower earnings this week, showing financial results for the fourth quarter of 2018 totaled $47.5 million in net income or 45-cents per basic and diluted limited partner unit.

The income for the Dallas, Texas based company that operates refineries in Tulsa and other cities across the U.S. compared to $86.1 million and 96-cents a share income for the fourth quarter of 2017.

Revenues from all of 2018 totaled $506.2 million, an increase of $51.9 million compared to 2017. The company explained that the increase was largely due to its acquisition of the remaining interests in the SLC and Frontier pipelines in the fourth quarter of 2017 as well as a turnaround at Holly Frontier’s Navajo refinery in the first quarter of 2017.

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