HOLLY ENERGY PARTNERS LP

hollyenergy.com

No Longer Reporting

The company has not filed an annual or quarterly report since its Q3 FY2023 10-Q, filed Nov 2, 2023. Its latest SEC filing is a 15-12G from Dec 11, 2023.

The sections below describe the company as of the FY2022 annual report.

How Did They Make Money?

FY2022 revenue by reportable segment revenue

Segment	Share	Revenue
Pipelines	52% FY2019: 55%
Terminals, tanks and loading racks	31% FY2019: 30%
Refinery processing units	17% FY2019: 15%

Did Revenues Turn Into Profits?

Yes. It kept 40 cents of every revenue dollar as net income in FY2022 and turned 53 cents into free cash flow.

Operating income, FY2022

40% of revenue

▲ +7% vs FY2021 ($206.5M, 42%)

Net income, FY2022

40% of revenue

▲ +1% vs FY2021 ($214.9M, 43%)

Free cash flow, FY2022

53% of revenue

▲ +43% vs FY2021 ($204.1M, 41%)

How Were They Changing?

Since the FY2022 annual report

Latest quarter: Q3 FY2023, the three months to Sep 30, 2023

Revenue: ▲ +6%; vs $149M in Q3 FY2022
Net income: ▲ +50%; vs $42M in Q3 FY2022

Pipelines share of revenue vs 51.8% in Q3 FY2022

Held flat. Revenue was $547.5M in FY2022, about the same as the $506.2M of FY2018.

Revenue over time

Pipelines Terminals, tanks and loading racks Refinery processing units

$1B$500M$0

FY2018 FY2019 FY2020 FY2021 FY2022

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