Financial Performance - Delek US reported a net loss of $76.8 million or $(1.20) per share for Q3 2024, compared to a net income of $128.7 million or $1.97 per share in Q3 2023[1][2]. - Adjusted EBITDA for Q3 2024 was $70.6 million, significantly down from $345.1 million in the same quarter last year[2]. - Adjusted net loss for Q3 2024 was $93.0 million, compared to an adjusted net income of $131.9 million in Q3 2023[2]. - The company experienced a net loss of $136.1 million for the three months ended September 30, 2024, compared to a net income of $206.8 million in the same period of 2023[16]. - Cash provided by operating activities from continuing operations was $(22.1) million for the three months ended September 30, 2024, down from $420.2 million in the same period of 2023[19]. - Nine months ended September 2024 showed a net loss of $146.6 million, compared to a net income of $184.7 million for the same period in 2023[31]. - The company reported total non-current liabilities of $3,617.9 million as of September 30, 2024, an increase from $3,527.0 million at December 31, 2023[15]. - The company recorded restructuring costs of $33.7 million ($26.1 million after-tax) for the third quarter of 2024, as part of its business transformation efforts[24]. Segment Performance - The refining segment's Adjusted EBITDA was $10.2 million, a decrease from $296.1 million in Q3 2023, primarily due to a 49.1% drop in benchmark crack spreads[3]. - The logistics segment achieved a record Adjusted EBITDA of $106.1 million, up from $96.5 million in the prior year quarter, driven by strong contributions from Delaware Gathering systems[4]. - Segment EBITDA attributable to Delek US for Q3 2024 was $1.8 million, a significant drop from $324.8 million in Q3 2023[33]. - Adjusted Segment EBITDA for Q3 2024 was $62.4 million, down from $328.7 million in Q3 2023, indicating a decline of approximately 81%[35]. - Refining segment net revenues for the three months ended September 30, 2024, were $2,852.6 million, while total revenues reached $3,027.8 million[44]. - The refining segment reported net revenues of $8,872.1 million for the three months ended September 30, 2024, compared to $4,392.4 million for the same period in 2023, indicating significant growth[46]. Cash and Debt Management - As of September 30, 2024, Delek US had a cash balance of $1,037.6 million and total consolidated long-term debt of $2,789.4 million, resulting in net debt of $1,751.8 million[7]. - Net (cash) debt, excluding DKL, as of September 30, 2024, was $(135.2) million, compared to $78.0 million as of December 31, 2023, indicating a shift to a net cash position[51]. - Total current assets decreased to $2,564.8 million as of September 30, 2024, from $2,666.0 million at December 31, 2023[15]. - Total liabilities increased to $6,084.9 million as of September 30, 2024, compared to $5,982.1 million at December 31, 2023[15]. Operational Metrics - Total refining production margin per barrel for the three months ended September 30, 2024, was $4.88, significantly lower than $16.01 for the same period in 2023, representing a decrease of approximately 69.6%[40]. - Average total throughput for the three months ended September 30, 2024, was 74,998 bpd, compared to 75,995 bpd in the same period of 2023, showing a slight decline of about 1.3%[40]. - The company reported total sales volume of refined products averaging 309,175 bpd for the three months ended September 30, 2024, compared to 307,626 bpd in the same period of 2023, indicating a slight increase of about 0.5%[40]. - The average crude oil utilization rate based on nameplate capacity for the three months ended September 30, 2024, was 97.8%, compared to 97.6% in the same period of 2023, showing a marginal improvement[40]. Strategic Initiatives - Delek US announced an Enterprise Optimization Plan (EOP) expected to increase overall profitability by at least $100 million[1]. - The company closed the sale of retail assets for proceeds of $390 million and completed the acquisition of H2O Midstream, enhancing third-party cash flows[1]. - Delek US completed the acquisition of H2O Midstream for $229.5 million, enhancing its water disposal and recycling operations in the Midland Basin, Texas[20]. - The company sold 100% of the equity interests in four retail subsidiaries for approximately $390.2 million, resulting in a gain on sale of $98.4 million[21]. Market Conditions - The average WTI Cushing crude oil price per barrel for the three months ended September 30, 2024, was $75.28, down from $82.51 in the same period of 2023[47]. - The U.S. Gulf Coast 5-3-2 crack spread averaged $15.64 per barrel for the three months ended September 30, 2024, compared to $32.39 in the same period of 2023, reflecting a significant decrease[47].

Company Overview - Delek US Holdings (DK) is expected to report a year-over-year decline in earnings due to lower revenues for the quarter ended September 2024, with a consensus estimate of a loss of $1.71 per share, reflecting a change of -184.7% [3] - Revenues are anticipated to be $3.09 billion, down 34.9% from the same quarter last year [3] Earnings Expectations - The earnings report is scheduled for November 6, 2024, and could lead to stock price movement depending on whether the results exceed or fall short of expectations [2] - The consensus EPS estimate has been revised 26.14% lower in the last 30 days, indicating a reassessment by analysts [4] Earnings Surprise Prediction - The Zacks Earnings ESP for Delek US Holdings is +3.32%, suggesting a more optimistic outlook from analysts compared to the consensus estimate [10] - Despite the positive Earnings ESP, the company holds a Zacks Rank of 5 (Strong Sell), complicating predictions of an earnings beat [10] Historical Performance - In the last reported quarter, Delek US Holdings had a surprise of +35.21%, posting a loss of $0.92 per share against an expected loss of $1.42 [11] - Over the past four quarters, the company has beaten consensus EPS estimates three times [12] Industry Context - Marathon Petroleum (MPC), another player in the Oil and Gas - Refining and Marketing industry, is expected to report earnings of $0.97 per share for the same quarter, indicating a year-over-year change of -88.1% [16] - Marathon Petroleum's revenues are projected to be $31.58 billion, down 24.1% from the previous year [16]

Delek US Holdings, Inc. (DK) , a U.S.-based oil and gas refining and marketing company, recently announced that its subsidiary, Delek Logistics Partners, LP (DKL) , completed the acquisition of H2O Midstream, a portfolio company of EIV Capital, LLC. This acquisition, valued at $230 million, includes $160 million in cash and $70 million in convertible preferred redeemable equity. The transaction was funded through a combination of cash and debt financing, a strategic move aimed at strengthening DK's core mid ...

It has been about a month since the last earnings report for Delek US Holdings (DK) . Shares have added about 1% in that time frame, underperforming the S&P 500. Will the recent positive trend continue leading up to its next earnings release, or is Delek US Holdings due for a pullback? Before we dive into how investors and analysts have reacted as of late, let's take a quick look at the most recent earnings report in order to get a better handle on the important drivers. Delek Q2 Loss Narrower Than Expected ...

Group 1: Company Overview - Delek US Holdings (DK) has announced a $400 million increase in its share buyback authorization, bringing the total available mandate to $562 million [1] - The company has cash reserves exceeding $650 million, which supports its buyback program [3] - Delek also returns cash to shareholders through dividends, currently yielding an attractive 5% [3] Group 2: Share Buyback Mechanism - A share buyback reduces the number of outstanding shares, potentially increasing the value of remaining shares and boosting earnings per share (EPS) [2] - This practice has become a preferred method for returning cash to shareholders, often indicating management's belief that the stock is undervalued [2] Group 3: Market Position and Comparisons - Delek currently holds a Zacks Rank of 3 (Hold) [4] - In the Oil/Energy sector, other operators like Core Laboratories (CLB) and Nine Energy Service (NINE) are also mentioned, with CLB holding a Zacks Rank of 2 [4] - Core Laboratories has an expected EPS growth rate of 22.2% over three to five years, compared to the industry's growth rate of 14.5% [5] - Nine Energy Service has seen a 10.3% increase in the Zacks Consensus Estimate for 2024 over the past 60 days [6]

Delek US Holdings, Inc. (DK) reported second-quarter 2024 adjusted net loss of 92 cents per share, narrower than the Zacks Consensus Estimate of a loss of $1.42, owing to lower year-over-year operating costs. However, the figure deteriorated from the year-ago quarter's profit of $1 per share. The loss was due to the Refining and Retail segment's weak year-on-year contributions. Net revenues decreased 18.4% year over year to $3.4 billion. However, the figure beat the Zacks Consensus Estimate of $3.1 billion, ...

UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 Form 10-Q (Mark One) ☑ QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the quarterly period ended June 30, 2024 or ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the transition period from to Commission file number 001-38142 DELEK US HOLDINGS, INC. (Exact name of registrant as specified in its charter) Delaware 35-2581557 (State or other jurisdic ...

Delek US Holdings, Inc. (NYSE:DK) Q2 2024 Earnings Conference Call August 6, 2024 12:00 PM ET Company Participants Robert Wright - Deputy Chief Financial Officer Avigal Soreq - President & Chief Executive Officer Joseph Israel - Executive Vice President-Operations Reuven Spiegel - Executive Vice President & Chief Financial Officer Mark Hobbs - Executive Vice President-Corporate Development Conference Call Participants Manav Gupta - UBS Joe Leach - Morgan Stanley Neil Mehta - Goldman Sachs Matthew Blair - TP ...

Exhibit 99.2 Second Quarter 2024 Earnings Conference Call August 6, 2024 Forward Looking Statements: Delek US Holdings, Inc. ("Delek US") and Delek Logistics Partners, LP ("Delek Logistics"; and collectively with Delek US, "we" or "our") are traded on the New York Stock Exchange in the United States under the symbols "DK" and "DKL", respectively. These slides and any accompanying oral or written presentations contain forward-looking statements within the meaning of federal securities laws that are based upo ...

Core Insights - Delek US Holdings reported a quarterly loss of $0.92 per share, which was better than the Zacks Consensus Estimate of a loss of $1.42, representing an earnings surprise of 35.21% [1] - The company posted revenues of $3.42 billion for the quarter ended June 2024, exceeding the Zacks Consensus Estimate by 11.49%, but down from $4.2 billion year-over-year [2] - The stock has underperformed the market, losing about 15.8% since the beginning of the year compared to the S&P 500's gain of 8.7% [3] Company Performance - Over the last four quarters, Delek US Holdings has surpassed consensus EPS estimates three times [2] - The current consensus EPS estimate for the upcoming quarter is -$0.17 on revenues of $3.15 billion, and for the current fiscal year, it is -$2.83 on revenues of $12.34 billion [7] Industry Context - The Oil and Gas - Refining and Marketing industry is currently ranked in the bottom 11% of over 250 Zacks industries, indicating a challenging environment [8] - Empirical research shows a strong correlation between near-term stock movements and trends in earnings estimate revisions, which can impact stock performance [5]