HollyFrontier (HFC) Q2 2019 Earnings Call Transcript

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HollyFrontier (NYSE: HFC)
Q2 2019 Earnings Call
Aug 01, 2019, 8:30 a.m. ET

Contents:

  • Prepared Remarks

  • Questions and Answers

  • Call Participants

Prepared Remarks:


Operator

Welcome to HollyFrontier Corporation's second-quarter 2019 conference call and webcast. Hosting the call today from HollyFrontier is George Damiris, president and chief executive officer. He is joined by Rich Voliva, executive vice president and chief financial officer; Tom Creery, president, refining and marketing; and Jim Stump, senior vice president, refining. [Operator instructions] Please note that this conference is being recorded.

It is now my pleasure to turn the call over to Craig Biery, director, investor relations. Craig, you may begin.

Craig Biery -- Director, Investor Relations

Thank you, Stacy. Good morning, everyone, and welcome to HollyFrontier Corporation's second-quarter 2019 earnings call. This morning, we issued a press release announcing results for the quarter ending June 30, 2019. If you would like a copy of the press release, you may find one on our website at hollyfrontier.com.

Before we proceed with remarks, please note the safe harbor disclosure statement in today's press release. In summary, it says statements made regarding management expectations, judgments or predictions are forward-looking statements. These statements are intended to be covered under the safe harbor provisions of federal security laws. There are many factors that could cause results to differ from expectations, including those noted in our SEC filings.

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The call also may include discussion of non-GAAP measures. Please see the press release for reconciliations to GAAP financial measures. Also, please note, any time-sensitive information provided on today's call may no longer be accurate at the time of any webcast replay or rereading of the transcript. And with that, I'll turn the call over to George Damiris.

George Damiris -- President and Chief Executive Officer

Thanks, Craig, and good morning, everyone. Today, we reported second-quarter net income attributable to HollyFrontier shareholders $197 million or $1.15 per diluted share. Certain items detailed in our earnings release decreased net income by $175 million on an after-tax basis. Excluding these items, net income for the current quarter was $372 million or $2.18 per diluted share versus adjusted net income of $259 million or $1.45 per diluted share for the same period last year.