Delek Us Hldgs Inc Stock Price, News & Analysis

Delek Logistics Partners, LP announced plans to issue a press release on its fourth quarter 2022 results before the market opens on February 28, 2023. A conference call to discuss the results will take place at 3:30 p.m. CT (4:30 p.m. ET) on the same day. Investors can access the live broadcast through the company’s website, with a replay available for 90 days. Based in Brentwood, Tennessee, Delek Logistics is involved in gathering, pipeline, and transportation services primarily for crude oil and natural gas customers. The company is linked to Delek US Holdings, which owns its general partner interest.

Delek US Holdings (NYSE: DK) announced plans to release its fourth quarter 2022 results on February 28, 2023, before the U.S. market opens. A conference call to discuss these results will take place at 2:00 p.m. CT (3:00 p.m. ET) on the same day. Investors can access the live broadcast through DelekUS.com in the investor relations section, with a replay available for 90 days. Delek US is a diversified downstream energy company engaged in petroleum refining, logistics, and retail convenience stores, operating refineries across Texas, Arkansas, and Louisiana with a combined capacity of 302,000 barrels per day.

Delek Logistics Partners has announced a quarterly cash distribution of $1.02 per common limited partner unit for Q4 2022, reflecting a 3% increase from Q3 2021 and a 5% increase from Q4 2021. This marks the 40th consecutive quarter of increased payouts. The distribution is set for payment on February 9, 2023, to unitholders of record as of February 2, 2023. Delek Logistics aims for another 5% distribution growth in 2023, driven by strong demand in its Permian and Delaware Gathering Systems.

Delek Logistics Partners declared a quarterly cash distribution of $1.02 per common limited partner unit for Q4 2022, marking a 3% increase from Q3 2021 and a 5% increase compared to Q4 2021. This is the 40th consecutive quarter of distribution increases, fulfilling the company's 5% growth commitment for 2022. The distribution is payable on February 9, 2023, to unitholders of record by February 2, 2023. Delek Logistics anticipates another 5% distribution growth for 2023, driven by strong demand in the Permian and Delaware Gathering Systems.

On January 4, 2023, Delek US Holdings (NYSE: DK) unveiled its 2023 capital spending budget, totaling approximately $350 million. The primary focus of this budget is on growth capital for expanding its gathering business in the Permian basin. Additionally, the budget includes a planned turnaround at the Tyler Refinery during the first half of the year. Key allocations encompass $21 million for regulatory, $176 million for maintenance, and $5 million for growth in the refining segment.

Delek US Holdings (NYSE: DK) and Delek Logistics Partners (NYSE: DKL) announced the appointment of Rosy Zuklic as Vice President of Investor Relations and Market Intelligence, effective early 2023. Zuklic, with over 25 years of experience in the oil and gas sector, will enhance Delek's communication with institutional investors and analysts. She previously held a senior role at Phillips 66. Blake Fernandez, the outgoing SVP of Investor Relations, will assist during the transition. Delek operates refineries with a combined capacity of 302,000 barrels per day and has over 250 convenience stores in Texas and New Mexico.

Delek US reported third-quarter 2022 net income of $7.4 million, or $0.10 per share, down from $11.8 million or $0.16 per share a year prior. Despite unfavorable inventory impacts of $225.1 million, adjusted EBITDA rose to $135.8 million. The company announced a $0.01 dividend increase to $0.21 per share and plans to repurchase $75 to $100 million in stock. Refining margins increased to $106 million, though impacted by inventory valuation issues. Delek US maintains 99% crude utilization and engaged bankers to explore corporate development opportunities.

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.