Welcome to our dedicated page for Delek US Holdings news (Ticker: DK), a resource for investors and traders seeking the latest updates and insights on Delek US Holdings stock.
Delek US Holdings, Inc. (NYSE: DK) is a diversified downstream energy company that operates through three main business segments: petroleum refining, marketing & supply, and retail. Headquartered in Brentwood, Tennessee, Delek US Holdings' refining segment operates a 60,000 barrel-per-day refinery in Tyler, Texas, known for its high conversion and moderate complexity refining capabilities. This refinery plays a crucial role in producing various petroleum products for transportation and industrial markets in the United States.
The marketing & supply segment of Delek US Holdings is involved in the transportation and wholesale distribution of refined products throughout West Texas, utilizing both company-owned and third-party operated terminals. This segment ensures the efficient delivery of products such as gasoline, diesel, and other refined goods to various markets.
Delek US Holdings also boasts an extensive retail network, operating more than 450 company-owned fuel and convenience stores across eight states. The retail segment markets gasoline and diesel through various regional brands including Mapco Express®, Mapco Mart® East Coast®, Discount Food Mart™, Fast Food and Fuel™, and Favorite Markets®.
Additionally, Delek US Holdings has a logistics segment that focuses on gathering, transporting, and storing crude oil and intermediate products. This segment is crucial for the company's operations as it supports the refining and marketing activities by ensuring a seamless supply chain for crude oil and refined products.
Recent developments highlight Delek US Holdings' dynamic growth strategy. The company, through its subsidiary Delek Logistics Partners, LP (NYSE: DKL), has been active in the financial markets, recently pricing an upsized offering of $650 million in senior notes and commencing a $120 million public offering of common units. The proceeds from these offerings are earmarked for repurchases, repayments, and general corporate purposes.
Delek US Holdings demonstrates a robust financial and operational framework, bolstered by strategic partnerships and a diversified product portfolio. The company's focus on refining, logistics, and retail ensures a comprehensive energy supply chain, catering to both wholesale and retail markets. As an integrated energy business, Delek US Holdings continues to strengthen its market position through strategic investments and a commitment to operational excellence.
Delek US Holdings (NYSE: DK) will release its third quarter 2022 results before the U.S. market opens on November 7, 2022. A conference call to discuss these results is set for 9:30 a.m. CT. Investors can access the live broadcast at www.DelekUS.com. Additionally, Delek Logistics Partners (NYSE: DKL) will hold its earnings call the same day at 8:30 a.m. CT, with insights relevant to Delek US's operations.
Delek US operates refineries in Texas, Arkansas, and Louisiana, with a capacity of 302,000 barrels per day.
Delek Logistics Partners, LP (NYSE: DKL) announced intentions to release its third quarter 2022 results before the U.S. stock market opens on November 7th, 2022. A conference call is set for 8:30 a.m. CT to discuss these results. Investors can access the live broadcast via www.DelekLogistics.com. Additionally, Delek US Holdings, Inc. (NYSE: DK) will also host its earnings call on the same day at 9:30 a.m. CT, providing insights relevant to Delek Logistics.
On September 6, 2022, Delek US Holdings (NYSE:DK) announced the appointment of Mark Hobbs as Executive Vice President of Corporate Development. Hobbs brings over 28 years of energy industry experience and a background in strategic advisory roles. His expertise is expected to enhance Delek's growth strategy, focusing on unlocking the company's 'sum of the parts' valuation and exploring opportunities in both existing and new markets, including alternative energy sectors. This leadership change is aimed at positioning Delek for substantial growth.
Delek Logistics Partners, LP (NYSE: DKL) has announced that 2021 Schedule K-3 tax packages are now accessible on its website for unitholders. These packages can be found under the Tax Information section at www.deleklogistics.com. Unitholders with inquiries regarding the 2021 Tax Reporting Package can reach out via phone at 1-855-301-4589 or email at DelekLogisticsK1Help@deloitte.com. Delek Logistics operates primarily in midstream energy services in regions like the Permian and Delaware Basins.
Delek US Holdings reported a strong second quarter for 2022, achieving a net income of $361.8 million or $5.05 per share, significantly up from a net loss of $(56.7) million in the same period of 2021. Adjusted EBITDA reached $518.4 million, a notable increase from $46.1 million year-over-year. The board announced a regular quarterly dividend of $0.20 per share and expanded its share repurchase program to $400 million. The acquisition of 3 Bear enhances revenue and geographic footprint, while cash reserves improved to $1.24 billion.
Delek US Holdings (NYSE: DK) has reinstated its regular quarterly cash dividend of $0.20 per share, payable on September 6, 2022, to shareholders of record by August 22, 2022. The company also expanded its share repurchase authorization by $170 million, now totaling $400 million. CEO Avigal Soreq emphasized the commitment to returning cash to shareholders and views the company's equity as undervalued, advocating for share retirements as a long-term investment strategy amid strong free cash flow generation.
Delek US Holdings (NYSE: DK) announced it will release its second quarter 2022 financial results on August 4, 2022, before the market opens. A conference call to discuss the results is scheduled for 10:00 a.m. CT on the same day. Investors can access the live broadcast on the company’s website, with a replay available for 90 days. Additionally, Delek Logistics Partners (NYSE: DKL) will hold its earnings call at 9:00 a.m. CT on August 4, 2022. Delek US operates in refining, logistics, and convenience retail with substantial assets across Texas and other states.
Delek US Holdings (NYSE: DK) has declared a special dividend of $0.20 per share, payable on July 20, 2022, to shareholders of record by July 12, 2022. This announcement reflects a strong macro environment for refining and is complemented by a recent $64 million share repurchase at $18.30 per share, representing 5% of its outstanding shares. The company prioritizes returning cash to shareholders while maintaining a solid balance sheet, with further assessment of a sustained dividend expected during the second quarter earnings announcement in early August.
Delek US Holdings reported a first quarter net income of $6.6 million or $0.09 per share, recovering from a net loss of $70 million in Q1 2021. Adjusted EBITDA reached $172.8 million, up from $12.6 million a year ago, driven by improved refining margins and utilization rates. The company plans to acquire 3Bear, aiming for midstream EBITDA of $365 - $395 million. With a cash reserve of $854 million and no major maintenance plans in 2022, Delek is positioned to capitalize on a strengthening energy market.
Delek Logistics Partners reported first quarter net income of $39.5 million, a 9% increase year-over-year. EBITDA rose to $66.0 million, up 12% year-over-year. The company declared a quarterly distribution of $0.98 per unit, reflecting a 6.5% increase from last year. A planned acquisition of 3Bear will enhance scale and revenue diversity, while strong activity in the Permian Gathering business is expected to boost volumes. The distributable cash flow coverage ratio stood at 1.21x with a leverage ratio of 3.3x.
FAQ
What is the current stock price of Delek US Holdings (DK)?
What is the market cap of Delek US Holdings (DK)?
What are the primary business segments of Delek US Holdings, Inc.?
Where is Delek US Holdings, Inc. headquartered?
What is the capacity of Delek's refinery in Tyler, Texas?
How does Delek US Holdings distribute its refined products?
What brands operate under Delek's retail segment?
What recent financial activities has Delek Logistics Partners, LP undertaken?
How does Delek US Holdings support its refining and marketing activities?
What is the role of Delek's logistics segment?
Which regions do Delek's retail stores operate in?
What is the strategic focus of Delek US Holdings, Inc.?
