Delek Us Hldgs Inc Stock Price, News & Analysis

Delek Logistics Partners, LP (NYSE: DKL) reported second-quarter 2021 net income of $43.2 million or $1.00 per diluted unit, down from $44.4 million year-over-year. Net cash from operating activities increased significantly to $85.8 million compared to $37.5 million in Q2 2020. EBITDA rose to $66.8 million, up from $64.8 million. The company announced a cash distribution of $0.94 per unit, a 4.4% increase from Q2 2020. Following a successful $400 million senior notes offering, total debt stands at $928.7 million, enhancing financial flexibility.

Delek US Holdings reported a second quarter 2021 net loss of $(81.1) million, or $(1.10) per share, contrasting with a net income of $87.7 million, or $1.18 per share, a year prior. Adjusted EBITDA improved to $2.0 million from $(99.6) million year-over-year. The company faced operational disruptions due to winter weather and pipeline outages, incurring $40-$45 million in additional expenses. However, a $156 million federal tax refund and ongoing insurance claims may provide near-term liquidity. Retail and logistics segments showed growth, with logistics' contribution margin reaching $64.2 million.

Delek Logistics Partners, LP (NYSE: DKL) announced a quarterly cash distribution of $0.94 per common limited partner unit for Q2 2021, marking a 2.2% increase from Q1 2021 and a 4.4% increase from Q2 2020. This is the 33rd consecutive quarterly increase, demonstrating business stability. The distribution is payable on August 11, 2021, to unitholders of record on August 5, 2021. CEO Uzi Yemin noted improving product demand trends as the economy reopens, which is expected to support energy demand into the second half of the year.

Delek US Holdings (NYSE: DK) plans to release its second quarter 2021 results on August 3, 2021, after the market closes. A conference call will follow on August 4, 2021, at 8:30 a.m. CT to discuss these results. Investors can access the live broadcast on DelekUS.com. The replay will be available for 90 days. Additionally, Delek Logistics Partners (NYSE: DKL) will have its earnings call on the same day at 7:30 a.m. CT, which may provide relevant insights for investors.

Delek Logistics Partners, LP (NYSE: DKL) announced it will release its second quarter 2021 results on August 3, 2021, post market close. A conference call to discuss the results will take place on August 4, 2021, at 7:30 a.m. CT. The live broadcast will be accessible online, with a 90-day replay available. Additionally, investors can tune into Delek US Holdings, Inc.'s (NYSE: DK) earnings call on the same day at 8:30 a.m. CT, which could provide relevant market insights.

Delek US Holdings (NYSE: DK) will participate in the inaugural Shareholder Equity Conference on July 12, 2021, at 2:35 p.m. ET. The event, conducted virtually as a fireside chat, aims to engage retail investors, allowing them to ask questions during the discussion. The presentation will be available via live stream, and an archived replay will be accessible for 90 days post-event. Delek US operates in petroleum refining, logistics, and convenience store retailing, with a crude throughput capacity of 302,000 barrels per day.

Delek Logistics Partners, LP (NYSE: DKL) announced plans to offer $400 million in senior notes due 2028 in a private placement, subject to market conditions. The proceeds will be used to reduce outstanding borrowings under its revolving credit facility. The offering is only for qualified institutional buyers, exempt from registration under the Securities Act. This press release serves as notification under Rule 135c and is not an offer for the sale of the Notes. Delek Logistics, based in Brentwood, Tennessee, operates logistics and marketing assets for crude oil and refined products.

Mashgin has partnered with Delek US Holdings (NYSE: DK) to implement advanced, touchless self-checkout systems across over 70 convenience stores in Texas by late summer 2021. This AI-powered solution aims to enhance customer experience by providing swift and contactless transactions, allowing shoppers to complete purchases in under 10 seconds. The system is expected to reduce wait times and improve operational efficiency, aligning with Delek's commitment to delivering a convenient shopping experience amidst evolving consumer demands during the pandemic.

Delek US Holdings, Inc. announced that at its 2021 Annual Meeting, shareholders overwhelmingly elected all eight director nominees, achieving approximately 90% support. The company expressed gratitude to its shareholders and reiterated its commitment to enhancing shareholder value while overseeing corporate strategy. Additionally, all other proposals from the meeting were approved. Delek plans to file the preliminary and final voting results with the SEC as per regulations.