Delek Us Hldgs Inc Stock Price, News & Analysis

Delek US Holdings appointed Laurie Z. Tolson to its Board of Directors on January 20, 2021. Her diverse background in technology is expected to enhance the company's operations and align with its goal of increasing board diversity by 2022. Tolson, who has extensive experience in digital transformation and has held executive roles at GE Transportation and ABB, aims to improve efficiency and safety through technological advancements. Delek US operates in petroleum refining, logistics, asphalt, renewable fuels, and convenience store retailing across several states.

Delek US Holdings (NYSE: DK) responded to a letter from CVR Energy, emphasizing its commitment to enhancing shareholder value. The company reported refinery utilization rates above industry averages and strategic investments aimed at boosting performance in 2021 and 2022. With over $265 million returned to shareholders through dividends and buybacks in 2019, Delek US plans to cut capital expenditures by approximately 40% in 2021. The company assures shareholders of ongoing dialogue and engagement while remaining focused on long-term strategic goals.

Delek US Holdings (NYSE: DK) will announce fourth quarter 2020 results on February 23, 2021, after market close. A conference call to discuss these results is set for February 24, 2021, at 8:30 a.m. CT (9:30 a.m. ET). Investors can access the live broadcast on www.DelekUS.com. Additionally, Delek Logistics Partners (NYSE: DKL) will hold its earnings call on the same day, starting at 7:30 a.m. CT (8:30 a.m. ET).

Delek Logistics Partners, LP (NYSE: DKL) will release its fourth quarter 2020 results after market close on February 23, 2021. A conference call to discuss the results is set for 7:30 a.m. CT on February 24, 2021. Investors can access the live broadcast via DelekLogistics.com, with a replay available for 90 days. Delek US Holdings, Inc. (NYSE: DK) will also hold its earnings call on the same day at 8:30 a.m. CT, providing insights that may be relevant to Delek Logistics as a subsidiary.

Delek US Holdings reported a net loss of $(88.1) million or $(1.20) per share for Q3 2020, compared to a net income of $51.3 million or $0.68 per share a year earlier. Adjusted EBITDA fell to $21.9 million from $184.2 million. Key actions to improve cash flow include an 8% workforce reduction and 40% CAPEX cut, projected to enhance cash flow by $200 million in 2021. The company suspended dividends to maintain financial flexibility. As of September 30, 2020, cash was $808 million, with $2.47 billion debt. Refining margins plummeted, while logistics saw improved contributions.

Delek Logistics Partners reported a strong performance for Q3 2020, with net income of $46.3 million ($1.26 per unit), up 52% year-over-year. Net cash from operations was $62.3 million, while distributable cash flow reached $59.1 million. EBITDA increased by 32% to $67.8 million, driven by the drop down of new assets and reduced operating expenses. The company declared a cash distribution of $0.905 per unit, reflecting a 2.8% increase from Q3 2019. Total debt stood at approximately $1 billion with a leverage ratio of 3.9x, demonstrating financial stability and growth potential.

Delek Logistics Partners, LP (NYSE: DKL) announced a quarterly cash distribution of $0.905 per common limited partner unit for Q3 2020, reflecting a 0.6% increase from Q2 2020 and a 2.8% increase year-over-year. This marks the 30th consecutive quarterly increase in distributions, demonstrating business stability amid challenging energy conditions. The distribution is payable on November 12, 2020 to unitholders of record on November 6, 2020. Delek Logistics aims for 5% distribution growth for the year compared to 2019.

Delek US Holdings (NYSE: DK) will issue its third quarter 2020 results on November 4, 2020, after market close. A conference call to discuss these results is scheduled for 8:30 a.m. CT on November 5, 2020. Investors can access the live broadcast through the Delek US website. Additionally, Delek Logistics Partners (NYSE: DKL) will hold its own earnings call at 7:30 a.m. CT on the same day, which may offer relevant information for Delek US stakeholders.

Delek Logistics Partners, LP (NYSE: DKL) announced it will release its third-quarter 2020 results after market close on November 4, 2020. A conference call is scheduled for November 5, 2020, at 7:30 a.m. CT to discuss the results. Investors can access the live call on its website, with a replay available for 90 days. Additionally, Delek US Holdings, Inc. (NYSE: DK) will also hold its own earnings call on the same day at 8:30 a.m. CT. The logistics partnership focuses on owning and operating midstream energy infrastructure.