Delek Us Hldgs Inc Stock Price, News & Analysis

Delek Logistics Partners reported a net income of $36.3 million for Q1 2021, up from $27.8 million in Q1 2020. Earnings per unit rose to $0.83, compared to $0.76 a year earlier. Net cash from operations increased to $61.7 million from $34.8 million. Distributable cash flow also saw growth, reaching $52.5 million. The company announced a 3.4% year-over-year distribution growth, reflecting its commitment to 5% annual growth. Despite challenges from Winter Storm Uri, increased refinery utilization is expected, providing a positive outlook. A quarterly distribution of $0.92 per unit was declared.

Delek Logistics Partners, LP (NYSE: DKL) announced a quarterly cash distribution of $0.92 per common limited partner unit for Q1 2021, reflecting a 1.1% increase from the previous quarter. This marks the 32nd consecutive quarterly increase and a 3.4% rise from Q1 2020. The distribution is payable on May 14, 2021, to unitholders of record on May 10, 2021. CEO Uzi Yemin noted improving demand trends connected to vaccination efforts, which may bolster energy demand for the latter half of the year.

Delek US Holdings (NYSE: DK) has announced it will release its first quarter 2021 results on May 4, 2021, after market close. A conference call to discuss these results is scheduled for May 5, 2021, at 8:30 a.m. CT (9:30 a.m. ET). Investors can access the live broadcast on DelekUS.com. Additionally, Delek Logistics Partners (NYSE: DKL) will hold its earnings call on the same day at 7:30 a.m. CT (8:30 a.m. ET).

Delek Logistics Partners, LP (NYSE: DKL) will release its first quarter 2021 results after the market closes on May 4, 2021. A conference call to discuss these results is scheduled for May 5, 2021, at 7:30 a.m. CT. The call can be accessed live via www.DelekLogistics.com and will be available for replay for 90 days. Additionally, Delek US Holdings, Inc. (NYSE: DK) will hold its earnings call on the same day at 8:30 a.m. CT.

Delek US Holdings (NYSE: DK) has responded to a proxy contest initiated by CVR Energy, a competitor controlled by Carl Icahn. Delek alleges that CVR's motives are self-serving, aiming to benefit its stake at the expense of Delek shareholders. The company emphasizes its superior performance with a 5-year total shareholder return of 78%, compared to CVR's 6%. Delek rejected CVR's proposals, which included selling assets to fund buybacks of CVR's shares. Delek urges shareholders to support its board by voting with the WHITE proxy card, discarding any GOLD proxy materials from CVR.

Delek Logistics Partners, LP (NYSE: DKL) has announced that its 2020 K-1 tax packages are now accessible on its website. Unit holders can retrieve their tax information by visiting www.deleklogistics.com. The process of printing and mailing these packages is currently in progress. For inquiries related to the 2020 Tax Reporting Package, assistance is available through a dedicated hotline or email during business hours.

Delek US Holdings (NYSE: DK) announced the appointment of Todd O'Malley as EVP and Chief Commercial Officer, effective March 1, 2021. Uzi Yemin, Chairman and CEO, expressed optimism about O'Malley’s extensive experience in private equity, trading, and management within the energy sector. O'Malley has previously held significant roles in companies like Citizens Companies and PBF Energy. Delek US operates in petroleum refining, logistics, and retail, with a combined refining capacity of 302,000 barrels per day and approximately 253 convenience stores across Texas and New Mexico.

Delek US Holdings, Inc. (NYSE: DK) addressed a Section 220 request from CVR Energy, Inc., asserting its belief that CVR's activism campaign may not serve Delek's shareholders' best interests. Delek highlights a five-year total shareholder return of +92%, exceeding the 28% average of its peers. The company plans to review and respond to CVR's letter. Delek operates in refining, logistics, and retail, with a crude throughput capacity of 302,000 barrels per day and 253 convenience stores across Texas and New Mexico.

A fire occurred today at the Penex unit of Delek US Holdings' refinery in El Dorado, Arkansas. The fire was extinguished without adverse impacts reported to air quality in the area. Six employees received medical treatment, and the company is committed to supporting them. There were no operational impacts due to ongoing turnaround activities. Delek emphasizes the safety of personnel and customers, having rigorous safety protocols in place. A full investigation will follow to assess the incident.