Core Insights - Delek US Holdings, Inc. (DK) is a significant player in the U.S. downstream energy sector, focusing on refining crude oil and managing logistics, producing essential fuels like gasoline, diesel, and jet fuel [1] - The company has seen a 40.8% increase in share price over the past six months, outperforming the broader refining and marketing oil and gas sub-industry and the overall oils and energy sector [2] Performance Overview - DK's logistics segment achieved a record $117 million in adjusted EBITDA in Q1 2025, contributing to strong cash flows and growth [7] - The refining operations have improved, with throughput guidance for Q2 2025 set between 302,000-318,000 barrels per day, and margin improvements expected at El Dorado [9][11] - Seasonal demand is anticipated to enhance refining margins in Q2 2025 due to increased gasoline demand and tighter supply conditions [11] Strategic Positioning - DK's midstream assets are strategically located in the Permian Basin, benefiting from sour gas gathering and water midstream opportunities, with the Libby 2 gas plant nearing completion [10] - Management has expressed confidence in the long-term strategy, highlighting operational improvements and midstream growth [12] Challenges and Risks - The refining segment reported an adjusted EBITDA loss of $27.4 million in Q1 2025, a significant decline from $110.1 million in Q1 2024, primarily due to lower crack spreads [13] - Execution risks related to the Enterprise Optimization Plan could impact cash flow improvements, with potential delays in operational efficiencies and cost cuts [15] - Regulatory uncertainty surrounding Small Refinery Exemptions poses a risk, as the approval timeline and political factors remain hurdles [17] Investment Considerations - DK presents both opportunities and risks, with strong logistics performance and strategic positioning in the Permian Basin, but ongoing challenges in refining margins and high capital intensity could pressure near-term cash flows [21][22] - A cautious investment approach is suggested, with a hold strategy recommended until a more favorable entry point is identified [23]

Delek US Holdings, Inc. Investor Presentation March 2018 Disclaimers Forward Looking Statements: Delek US Holdings, Inc. ("Delek US") and Delek Logistics Partners, LP ("Delek Logistics"; collectively with Delek US, defined as "we", "our") are traded on the New York Stock Exchange in the United States under the symbols "DK" and "DKL", respectively, and, as such, are governed by the rules and regulations of the United States Securities and Exchange Commission. These slides and any accompanying oral and writte ...

Core Viewpoint - Delek US Holdings, Inc. is a significant player in the downstream energy sector, focusing on refining and logistics, transforming crude oil into essential fuels and managing the infrastructure for their transportation and storage [1] Group 1: Performance and Strategic Initiatives - The company is making strong progress on its Enterprise Optimization Plan, targeting at least $120 million in annual cash flow improvements by the second half of 2025, with operational gains already realized [4][10] - Delek is actively deconsolidating Delek Logistics, aiming to increase third-party EBITDA to 80%, which has improved liquidity by $250 million and could unlock hidden value in DKL [5][10] - Despite a challenging refining margin environment, Delek repurchased $32 million in shares and paid $16 million in dividends in Q1 2025, indicating confidence in its long-term value [6][10] - The company’s refineries are positioned for stronger performance heading into the summer driving season, with improved throughput guidance suggesting better earnings [7] - Potential retroactive small refinery exemption approvals from the EPA could provide a financial benefit exceeding $300 million, significantly improving liquidity and earnings [8] Group 2: Challenges and Risks - First-quarter 2025 refining margins were down nearly 30% year over year, contributing to a net loss of $173 million, with ongoing macroeconomic headwinds posing risks to profitability [11] - Execution risks in the midstream deconsolidation process could hinder value realization, as full deconsolidation is not yet complete [12] - Competitive pressures in the Southwest refining market, with gasoline and diesel cracks below five-year averages, may impact refining margins [13] - Reliance on Permian crude output presents risks; any decrease in production could increase feedstock costs and disadvantage Delek compared to larger refiners [14] - The company's share price has declined 20.5% over the past year, underperforming its sub-industry, indicating investor concerns about margin pressures and operational efficiency [15]

For years now, there's been a deep value/sum of the parts play for refiner Delek US Holdings (NYSE: DK ) stock. The core of the thesis is simple: Delek's stake in midstream play Delek Logistics Partners ( DKL ) accounts forI've been contributing to Seeking Alpha and other investment websites since 2011, with a general (though far from rigid) focus on value over growth. I got my Series 7 and 63 back in 1999, and watched the dot-com bubble peak and then burst in real time at a small, tech-focused retail broke ...

Delek US Holdings, Inc. (DK) reported a first-quarter 2025 adjusted net loss of $2.32 per share, wider than the Zacks Consensus Estimate of a loss of $2.27 and the year-ago quarter’s loss of 41 cents. This decline was mainly due to weaker year-over-year performance in the Refining segment. (See the Zacks Earnings Calendar to stay ahead of market-making news.)Net revenues decreased 18.2% year over year to $2.6 billion.  The figure also missed the Zacks Consensus Estimate by $208 million.The diversified downs ...

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 March 31, 2025 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) (State or other jurisdiction of incorporati ...

Delek US (DK) Q1 2025 Earnings Call May 07, 2025 11:00 AM ET Company Participants Robert Wright - EVP & CFOAvigal Soreq - President and CEOJoseph Israel - EVP, President of Refining & RenewablesMark Hobbs - EVP & CFOMatthew Blair - Managing DirectorMohit Bhardwaj - SVP - Strategy & GrowthManav Gupta - Executive DirectorJason Gabelman - MD - Equity Research Conference Call Participants Alexa Petrick - Investment Research AnalystMcKinley Trusclair - AnalystJoe Laetsch - AnalystRyan Todd - Senior Research Anal ...

Delek US (DK) Q1 2025 Earnings Call May 07, 2025 11:00 AM ET Speaker0 name is JL, and I will be your conference operator today. At this time, I would like to welcome everyone to the Delek U. S. First Quarter Earnings Call. All lines have been placed on mute to prevent any background noise. After the speakers' remarks, there will be a question and answer session. I would now like to turn the conference over to Robert Wright, Senior VP of The U. S. Branch. You may begin. Speaker1 Good morning, and welcome to ...

Here is how Delek US Holdings performed in the just reported quarter in terms of the metrics most widely monitored and projected by Wall Street analysts: View all Key Company Metrics for Delek US Holdings here>>> Delek US Holdings (DK) reported $2.64 billion in revenue for the quarter ended March 2025, representing a year-over-year decline of 18.2%. EPS of -$2.32 for the same period compares to -$0.41 a year ago. The reported revenue represents a surprise of +8.54% over the Zacks Consensus Estimate of $2.43 ...

Exhibit 99.2 First Quarter 2025 Earnings Conference Call May 7, 2025 Disclaimers 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 b ...