After reporting a fourth quarter 2020 increase in net income over 2019, Holly Energy Partners, L.P. prepares to release its first quarter 2021 earnings report in May.
The Dallas-based company, owner of refineries in Tulsa, Oklahoma and in Kansas, Wyoming and Utah will announce its results for the quarter ending March 31, 2021 on May 4 before the opening of trading on the New York Stock Exchange.
A webcast conference will be held at 3 p.m. Central Time where leaders will discuss the financial results.
Its fourth quarter net income was $51.3 million or 49 cents a basic unit compared to $45.7 million and 43 cents a basic unit ni the fourth quarter of 2019.
Holly’s revenues for the quarter totaled $127.5 million, down more than $4 million from the quarter a year earlier. The firm blamed the decrease on lower volumes on its product pipelines that service Delek US Holdings and it pipeline systems in New Mexico and Texas.
Holly stated in its fourth quarter release that the impact of COVID-19 pandemic had created “diminished demand.” Still its refinery processing units saw increased revenues totaling $20.5 million.
Holly Energy, through its subsidiaries and joint ventures, owns and operates petroleum product and crude gathering pipelines, tankage and terminals in Texas, New Mexico, Washington, Idaho, Oklahoma, Utah, Nevada, Wyoming and Kansas as well as refinery processing units in Kansas and Utah.
