Delek US (NYSE:DK) Posts Quarterly Earnings Results

Delek US (NYSE:DK) posted its quarterly earnings results on Friday. The oil and gas company reported $2.31 earnings per share for the quarter, topping analysts’ consensus estimates of ($0.19) by $2.50, FiscalAI reports. The business had revenue of $2.43 billion for the quarter, compared to analysts’ expectations of $2.55 billion. Delek US had a negative net margin of 4.83% and a negative return on equity of 56.40%. The business’s revenue for the quarter was up 2.3% on a year-over-year basis. During the same period in the prior year, the company posted ($2.54) EPS.

Here are the key takeaways from Delek US’s conference call:

• The company raised its Enterprise Optimization Plan (EOP) target to at least $200 million annual run rate, saying EOP contributed about $50 million to Q4 results and is a sustained, company-wide initiative to boost free cash flow.
• Management monetized the bulk of 2023–2024 RINs (~$360 million) and used proceeds to pay down the Inventory Intermediation Agreement (~$380 million), which they expect will cut annual interest expense by at least $40 million and improve free cash flow.
• Delek Logistics (DKL) delivered a record ~$536 million adjusted EBITDA in 2025, gave 2026 guidance of $520–$560 million, and expects pro forma third‑party EBITDA to exceed 80%, supporting the company’s sum‑of‑the‑parts / deconsolidation strategy.
• Refining results were the main drag on quarter‑to‑quarter adjusted EBITDA (down ~$91 million excluding SREs) and Big Spring’s planned Q1 2026 turnaround will lower throughput, with system throughput guidance of 240,000–259,000 bpd for Q1 and elevated operating expenses.
• While management is confident SREs remain a durable policy and expects additional monetizations in early 2026, recognition of pre‑2023 RINs and future SRE values remain dependent on EPA decisions and carry execution/legislative risk.

Delek US Trading Up 3.8%

Shares of Delek US stock traded up $1.38 during trading hours on Friday, reaching $37.76. 2,905,502 shares of the company’s stock were exchanged, compared to its average volume of 1,530,470. Delek US has a 52-week low of $11.02 and a 52-week high of $43.50. The company has a fifty day moving average of $30.97 and a 200-day moving average of $32.47. The company has a current ratio of 0.86, a quick ratio of 0.58 and a debt-to-equity ratio of 7.12. The firm has a market capitalization of $2.27 billion, a price-to-earnings ratio of -4.63 and a beta of 0.84.

Delek US Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Monday, March 9th. Shareholders of record on Monday, March 2nd will be issued a $0.255 dividend. The ex-dividend date is Monday, March 2nd. This represents a $1.02 annualized dividend and a yield of 2.7%. Delek US’s payout ratio is -12.50%.

Analyst Upgrades and Downgrades

Several equities analysts recently weighed in on the company. UBS Group raised their price objective on Delek US from $31.00 to $42.00 and gave the company a “neutral” rating in a research note on Tuesday, November 18th. Wells Fargo & Company upped their target price on Delek US from $43.00 to $53.00 and gave the company an “overweight” rating in a report on Monday, November 10th. Scotiabank set a $34.00 price target on Delek US in a research report on Friday, January 16th. Morgan Stanley decreased their price objective on shares of Delek US from $40.00 to $38.00 and set an “equal weight” rating on the stock in a research report on Tuesday, January 27th. Finally, Citigroup dropped their target price on shares of Delek US from $37.00 to $33.00 and set a “neutral” rating for the company in a report on Monday, January 26th. Four investment analysts have rated the stock with a Buy rating, eight have issued a Hold rating and two have issued a Sell rating to the stock. According to data from MarketBeat, the stock presently has an average rating of “Hold” and a consensus target price of $38.85.

Institutional Trading of Delek US

Several hedge funds and other institutional investors have recently added to or reduced their stakes in DK. ION Fund Management Ltd acquired a new position in shares of Delek US during the fourth quarter worth about $52,427,000. Arrowstreet Capital Limited Partnership raised its holdings in shares of Delek US by 6,300.8% during the 3rd quarter. Arrowstreet Capital Limited Partnership now owns 1,306,269 shares of the oil and gas company’s stock valued at $42,153,000 after buying an additional 1,285,861 shares during the period. Price T Rowe Associates Inc. MD lifted its position in Delek US by 1,516.7% during the 4th quarter. Price T Rowe Associates Inc. MD now owns 996,059 shares of the oil and gas company’s stock worth $29,544,000 after acquiring an additional 934,448 shares in the last quarter. Voloridge Investment Management LLC purchased a new position in Delek US in the 3rd quarter worth approximately $23,308,000. Finally, Squarepoint Ops LLC acquired a new stake in Delek US in the fourth quarter valued at approximately $21,371,000. Hedge funds and other institutional investors own 97.01% of the company’s stock.

About Delek US

Delek US Holdings, Inc (NYSE: DK) is an independent downstream energy company engaged in the refining, logistics, and marketing of petroleum products. Headquartered in Brentwood, Tennessee, the company operates a network of inland refineries, storage terminals and pipelines, and convenience store locations. Delek US focuses on converting crude oil into a variety of finished products, including gasoline, diesel, jet fuel, asphalt and renewable fuels, serving wholesale and retail customers across the United States.

In its refining segment, Delek US owns and operates four inland refineries located in Texas and Arkansas.