Delek US Holdings, Inc. reports news on its downstream energy operations, including petroleum refining, logistics, pipelines, and renewable fuels. Company updates commonly cover refining performance at facilities in Texas, Arkansas, and Louisiana, quarterly results, dividends, credit and capital-allocation actions, and leadership changes tied to refining operations.
News also includes developments at Delek Logistics Partners, LP, the midstream master limited partnership in which Delek US owns the general partner interest and a majority limited partner interest. Those updates address gathering, pipelines, transportation, storage, wholesale marketing, terminalling, water disposal, recycling, distributions, tax reporting, and Form 10-K availability.
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.
Delek US Holdings (NYSE: DK) announced a first-quarter 2021 net loss of $(98.6) million, or $(1.34) per share, an improvement from $(314.4) million in Q1 2020. Adjusted net loss was $(125.2) million, with Adjusted EBITDA at $(41.4) million. The refining segment saw contributions improve to $(21.2) million, while logistics segment contributions rose to $57.7 million. Retail operations reported strong performance with $16.9 million in contribution margin. As of March 31, 2021, the company had $793.5 million in cash and $2,367.8 million in debt, resulting in net debt of $1,574.3 million.
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.