Delek Us Hldgs Inc Stock Price, News & Analysis

Delek Logistics Partners reported a third quarter net income of $44.7 million, up from $43.6 million year-over-year. EBITDA reached a record $89.0 million, despite $4.2 million in acquisition costs. The adjusted distributable cash flow coverage ratio stands at 1.62x, with a total leverage ratio of 4.35x. The company achieved a 4.2% year-over-year increase in its quarterly distribution to $0.99/unit, marking the 39th consecutive distribution growth. Recent credit amendments have improved liquidity and debt maturity.

On November 1, 2022, Delek US Holdings (NYSE: DK) announced a $0.01 increase in its quarterly dividend, raising it to $0.21 per share. This increase reflects the company’s commitment to returning cash to shareholders. The dividend will be paid on December 2, 2022, to shareholders recorded by November 18, 2022. The company operates refineries in Texas, Arkansas, and Louisiana, with a total throughput capacity of 302,000 barrels per day, alongside a convenience store network in Texas and New Mexico.

On October 25, 2022, Delek Logistics Partners, LP (NYSE: DKL) announced a quarterly cash distribution of $0.99 per common limited partner unit for Q3 2022, reflecting a 0.5% increase from Q2 2022 and a 4.2% rise from Q3 2021. This marks the 39th consecutive quarter of distribution increases since Q4 2012. The distribution will be payable on November 10, 2022 to unitholders of record by November 4, 2022. The company cites strong refining margins and operational momentum as key drivers.

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.