On Wall Street, analyst downgrades often trigger alarm bells, leading to short-term declines in the share price of such downgraded stocks. Yet many investors regard those analyst downgrades as potential long-term stocks to buy. In fact, a 2012 study involving 11,000 global analysts revealed surprisingly low accuracy rates for target prices. Analysts were correct only 30% of the time with 12-month targets and a mere 18% with short-term forecasts. In other words, downgrades frequently lead to a shift in the s ...

Oil prices have trended lower over the past three weeks due to concerns over demand and the perception that geopolitical risks to crude supplies are ebbing. The stock has been in breakneck mode over the past 12 months, notching up a series of all-time highs. That said, MPC has now dipped -3% year to date and fallen more than 21% from its 52-week highs of $221.11 in early April. As a result, several previously high-performing stocks have been caught up in this sell-off. However, now may be a good time to sta ...

It has been about a month since the last earnings report for Delek US Holdings (DK) . Shares have lost about 9.4% in that time frame, underperforming the S&P 500. Will the recent negative trend continue leading up to its next earnings release, or is Delek US Holdings due for a breakout? 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 catalysts. Delek Q1 Loss Narrower Than Expec ...

Merchandise sales of $70.7 million declined from the year-ago quarter's reported figure of $73.9 million. The figure also marginally missed our estimate by 0.1 %. The merchandise margin increased to 33.5% from the year-ago quarter's reported figure of 33%. Delek US Holdings, Inc. (DK) reported first-quarter 2024 adjusted net loss of 41 cents per share, narrower than the Zacks Consensus Estimate of a loss of 56 cents per share, owing to lower year-over-year operating costs. However, the figure deteriorated f ...

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, 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 jurisdi ...

Financial Data and Key Metrics Changes - The company reported an adjusted EBITDA of $159 million for Q1 2024, an improvement over Q4 2023 [6][34] - The net loss for the quarter was $33 million, or $0.51 per share, while the adjusted net loss was $26 million, or $0.41 per share [33] - Cash flow from operations was $167 million, with a positive $28 million from working capital improvements [36] Business Line Data and Key Metrics Changes - The Refining segment saw a $117 million improvement in EBITDA, primarily due to higher crack spreads and capture rates [34] - The Logistics segment delivered $100 million in EBITDA, with strong contributions from the Midland Gathering System [7][34] - The Retail segment operated as expected, in line with typical first-quarter seasonality [8] Market Data and Key Metrics Changes - Total throughput in Big Spring was approximately 65,000 barrels per day, with a production margin of $12.87 per barrel [18] - In Tyler, throughput was approximately 72,000 barrels per day, with a production margin of $15.72 per barrel [24] - El Dorado's throughput was approximately 84,000 barrels per day, with a production margin of $9.29 per barrel [25] Company Strategy and Development Direction - The company focuses on safe and reliable operations, maintaining a strong balance sheet, and unlocking value from its assets [9][10] - There is an ongoing effort to highlight the value of midstream assets and improve internal efficiencies [11][15] - The company is evaluating strategic opportunities for its Retail segment to unlock inherent value [21][60] Management's Comments on Operating Environment and Future Outlook - Management expressed confidence in the operational improvements and the positioning for the driving season, expecting throughput guidance to be met [31] - The company is focused on cost efficiency, targeting $90 million to $100 million in cost savings by the end of 2024 [16][84] - Management acknowledged challenges from extreme weather conditions impacting operations but emphasized ongoing risk mitigation efforts [96] Other Important Information - The company paid $60 million in dividends during the quarter and announced a $0.05 per share increase in the regular dividend [10] - Liquidity increased from approximately $300 million to $800 million, and the leverage ratio was reduced from 4.34x to 4.01x [12] Q&A Session Summary Question: Update on cost reduction targets - Management confirmed they are on track for $90 million to $100 million in cost savings by the end of 2024, with additional opportunities identified for 2025 [48][125] Question: Impact of winter storm on operations - Management discussed the challenges faced during the winter storm and emphasized the importance of risk mitigation strategies to minimize future impacts [94][96] Question: Future of the marketing business and potential monetization - Management acknowledged a shift in strategy regarding the marketing business and is exploring options to unlock value [54][60] Question: Dividend policy and buyback expectations - Management reiterated their commitment to a consistent and growing dividend while maintaining a strong balance sheet, with no immediate plans for buybacks due to strategic initiatives [111][112]

First Quarter 2024 Earnings Conference Call Forward Looking Statements: Exhibit 99.2 Disclaimers These forward-looking statements include, but are not limited to, the statements regarding the following: financial and operating guidance for future and uncompleted financial periods; financial strength and flexibility; potential for and projections of growth; return of cash to shareholders, stock repurchases and the payment of dividends, including the amount and timing thereof; cost reductions; crude oil throu ...

Exhibit 99.1 Delek US Holdings Reports First Quarter 2024 Results BRENTWOOD, Tenn.-- May 7, 2024 -- Delek US Holdings, Inc. (NYSE: DK) ("Delek US", "Company") today announced financial results for its first quarter ended March 31, 2024. "We are proud of our operational excellence progress that reflects favorable EHS performance trends," said Avigal Soreq, President and Chief Executive Officer of Delek US. "We navigated regional demand headwinds early in the quarter and delivered solid operational performanc ...

Editor's note: Seeking Alpha is proud to welcome Long Term Capital as a new contributor. It's easy to become a Seeking Alpha contributor and earn money for your best investment ideas. Active contributors also get free access to SA Premium. Click here to find out more » Frank Rothe/The Image Bank via Getty Images Delek US Holdings (NYSE:DK) is an integrated energy company with operations in refining, logistics, and retail segments through its network of convenience stores and gas stations. Despite consis ...

Delek US Holdings, Inc. (DK) reported fourth-quarter 2023 adjusted net loss of $1.46 per share, wider than the Zacks Consensus Estimate of a loss of $1.28. The figure also deteriorated from the year-ago quarter’s profit of 88 cents per share. The underperformance could be attributed to the Refining segment's weak year-on-year contributions.Net revenues decreased 9.6% year over year to $4 billion. The figure, however, beat the consensus mark of $3.8 billion due to record contributions from the Retail and Log ...