Delek US Holdings, Inc. - DK STOCK NEWS

Delek Logistics Partners (NYSE: DKL) has entered into a definitive agreement to acquire 100% of the equity interests in 3Bear Delaware Holding – NM, LLC for $624.7 million. The acquisition encompasses 3Bear's crude oil and gas gathering, processing, and transportation operations in New Mexico's Delaware Basin. 3Bear manages a robust asset portfolio with significant pipeline and processing capacities. This strategic move is expected to enhance revenue, diversify product offerings, and support cash flow growth. The transaction is anticipated to close mid-2022, subject to regulatory approval.

Delek US Holdings (NYSE: DK) announced a leadership transition effective June 2022, with Uzi Yemin stepping down as CEO to become Executive Chairman. Avigal Soreq, previously CEO of El Al Airlines, will take over as CEO of Delek US and President of Delek Logistics. The company emphasizes its strategic direction and operational capabilities under the new leadership. Other appointments include Todd O'Malley as COO and Nithia Thaver as EVP and President of Refining. Leonardo Moreno joins the Board, broadening governance and bringing renewable energy expertise.

Delek Logistics Partners, LP (NYSE: DKL) has announced that the 2021 K-1 tax packages are now available for unit holders on its website. The packages can be accessed by selecting the Tax Information link. Additionally, the company is currently in the process of printing and mailing these tax packages. Unit holders can direct any inquiries regarding the tax packages to a dedicated helpline or via email. Delek Logistics, based in Brentwood, Tennessee, focuses on owning and operating crude oil and refined product logistics and marketing assets.

Delek US Holdings (NYSE: DK) announced a $64 million stock purchase agreement with the Icahn Group, buying back shares at $18.30 each, closing by March 11, 2022. This acquisition will reduce shares outstanding by approximately 4.7%, increasing Icahn Group's stake to about 4.93%. CEO Uzi Yemin stated the transaction reflects confidence in the company's underlying business, supported by a strong cash balance and refining margins. A Form 8-K detailing the agreement will be filed with the SEC.

Delek US Holdings reported a fourth quarter 2021 net loss of $(41.9) million, a significant improvement from a net loss of $(293.2) million in Q4 2020. On an adjusted basis, the net loss was $(44.9) million versus $(204.0) million the prior year. Adjusted EBITDA was $58.2 million, contrasting with $(137.6) million in Q4 2020. The refining contribution margin rose to $32.1 million, driven by increased demand and higher crack spreads. The company maintained a cash balance of $856.5 million with total long-term debt at $2,218.0 million.

Delek US Holdings (NYSE: DK) announced its response to the nomination of three candidates for its Board of Directors by IEP Energy Holding LLC, controlled by Carl Icahn. The company emphasizes its commitment to a strong, independent, and diverse Board that serves stockholders' interests. The Nominating and Corporate Governance Committee will review the nominees and advise the Board, which will then provide recommendations to stockholders. No action is required from stockholders at this time.

Delek's retail segment is enhancing customer experience through innovative technology and personalized services. In 2021, 25% of stores adopted Touch-Less checkout using Mashgin tech, reducing checkout times by 67%. The High Octane Rewards Program offers mobile benefits, including fuel discounts, resulting in a 42% increase in loyalty member basket sizes. In 2022, a new loyalty app with mobile payment will be launched to further enhance customer engagement. This strategy aims to fulfill the vision of delivering a customer-centric experience.

Delek Logistics Partners, LP (NYSE: DKL) declared a quarterly cash distribution of $0.975 per common limited partner unit for Q4 2021, a 2.6% increase from Q3 2021 and a 7.1% increase from Q4 2020. This distribution, payable on February 8, 2022, highlights the company's consistent quarterly increases since Q4 2012. Improved energy sentiment and strong utilization rates are noted as contributing factors, while no major turnaround activities are planned for 2022. The management emphasizes stability despite potential risks, including those linked to Delek US and external market conditions.

Delek US Holdings (NYSE: DK) announced it will summarize its fourth quarter 2021 results after the U.S. market closes on February 23, 2022. A conference call for results discussion is set for 8:30 a.m. CT on February 24, 2022. Investors can access the live broadcast via DelekUS.com. Additionally, Delek Logistics Partners (NYSE: DKL) will announce its fourth quarter earnings on the same day at 7:30 a.m. CT, with relevant information also available on DelekLogistics.com.