2025-11-07 15:30Financial Performance - Adjusted EPS was $7.13 in 3Q 2025[17] - Adjusted EBITDA reached $759.6 million[18] - CFO (ex WC and SREs) amounted to $150 million[19] Enterprise Optimization Plan (EOP) - The company achieved approximately $60 million in EOP improvements in 3Q 2025[9] - The run-rate cash flow improvement guidance is raised to at least $180 million from the previous $130 - $170 million[12] - $50 million margin improvement plan stems from enhanced logistics, reduced costs, higher quality product slate and higher yields at El Dorado[37] Delek Logistics (DKL) - DKL is increasing its expected 2025 EBITDA range to $500 million[13] - Increased DKL Distribution: $1.12 per unit ($4.48 per unit annualized)[15] Small Refinery Exemptions (SREs) - The majority of pending 2019-2024 SRE petitions were approved[13] - A cash inflow of approximately $400 million is expected over the next six to nine months due to SREs[14] - The impact of (50% RVO Exemption 1Q to 3Q 2025) is $160.2 million[21] Capital Returns - Approximately $30 million was allocated to dividends and buybacks in 3Q 2025[15, 17] - Delek has led the group in the last twelve months in total shareholder returns, outperforming the group average by 7%[26]