Delek US (NYSE:DK) Releases Quarterly Earnings Results, Beats Expectations By $0.63 EPS

Delek US (NYSE:DK) issued its quarterly earnings results on Friday. The oil and gas company reported $0.44 EPS for the quarter, topping analysts’ consensus estimates of ($0.19) by $0.63, Zacks reports. Delek US had a negative return on equity of 56.40% and a negative net margin of 4.83%.The company had revenue of $2.43 billion for the quarter, compared to analysts’ expectations of $2.55 billion. During the same quarter last year, the business earned ($2.54) earnings per share. Delek US’s revenue was up 2.3% on a year-over-year basis.

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 Stock Performance

NYSE:DK opened at $37.76 on Friday. The stock’s 50-day moving average is $31.11 and its 200-day moving average is $32.59. Delek US has a 1-year low of $11.02 and a 1-year high of $43.50. 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 stock has a market cap of $2.27 billion, a P/E ratio of -4.63 and a beta of 0.84.

Delek US Announces Dividend

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

Key Headlines Impacting Delek US

Here are the key news stories impacting Delek US this week:

• Positive Sentiment: Q4 EPS sharply beat estimates — Delek reported $2.31 EPS versus a consensus near ($0.19), driven by cost cuts and refinery relief that reversed prior losses; that surprise profit is the main immediate catalyst for the stock rise. Read More.
• Positive Sentiment: Enterprise Optimization Plan expanded — management raised the target to a $200M annual run‑rate, accelerating expected structural savings and supporting margins and free cash flow. Read More.
• Positive Sentiment: Cash returns and liquidity focus — the company highlighted improved cash flow, boosted cash returns and provided materials/slides that underline management’s commitment to returning capital as savings materialize. Read More.
• Neutral Sentiment: Revenue slightly missed estimates — Q4 revenue was $2.43B vs. a $2.55B consensus, so the EPS beat was more margin/cost driven than top‑line strength; investors will watch next‑quarter volumes and crack spreads. Read More.
• Neutral Sentiment: Earnings call detail available — the transcript provides color on inventory intermediation agreement cost reductions and the timing/risks around the economic separation from Delek Logistics. Useful for modeling but not a definitive directional read. Read More.
• Negative Sentiment: Balance-sheet and profitability risks remain — Delek still shows negative net margin and ROE, and a very high debt‑to‑equity level that could constrain flexibility if margins slip. That structural leverage keeps some investors cautious. Read More.
• Negative Sentiment: Analyst forecasts still mixed — some models expect a sizable FY loss (consensus long‑run EPS weakness), so sustained stock gains depend on execution of cost saves, separation progress and stronger refining fundamentals. Read More.

Hedge Funds Weigh In On Delek US

Several institutional investors and hedge funds have recently added to or reduced their stakes in DK. Invesco Ltd. raised its stake in shares of Delek US by 28.5% during the fourth quarter. Invesco Ltd. now owns 252,108 shares of the oil and gas company’s stock valued at $7,478,000 after acquiring an additional 55,941 shares during the last quarter. Mackenzie Financial Corp raised its position in Delek US by 631.7% during the 4th quarter. Mackenzie Financial Corp now owns 54,234 shares of the oil and gas company’s stock worth $1,619,000 after purchasing an additional 46,822 shares during the last quarter. XTX Topco Ltd lifted its holdings in Delek US by 357.6% during the 4th quarter. XTX Topco Ltd now owns 138,495 shares of the oil and gas company’s stock worth $4,108,000 after buying an additional 108,231 shares during the period. Voloridge Investment Management LLC grew its position in shares of Delek US by 23.0% in the 4th quarter. Voloridge Investment Management LLC now owns 888,745 shares of the oil and gas company’s stock valued at $26,360,000 after buying an additional 166,461 shares during the last quarter. Finally, Tudor Investment Corp ET AL increased its stake in shares of Delek US by 5.8% in the fourth quarter. Tudor Investment Corp ET AL now owns 367,955 shares of the oil and gas company’s stock valued at $10,914,000 after buying an additional 20,144 shares during the period. 97.01% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several research firms recently issued reports on DK. UBS Group increased their price target on shares of Delek US from $31.00 to $42.00 and gave the stock a “neutral” rating in a research report on Tuesday, November 18th. Citigroup reduced their target price on Delek US from $37.00 to $33.00 and set a “neutral” rating on the stock in a report on Monday, January 26th. TD Cowen boosted their price target on Delek US from $28.00 to $36.00 and gave the stock a “hold” rating in a report on Tuesday, November 11th. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Delek US in a research note on Wednesday, January 21st. Finally, Morgan Stanley decreased their target price on 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. Four investment analysts have rated the stock with a Buy rating, eight have given a Hold rating and two have issued a Sell rating to the company’s stock. According to data from MarketBeat, the stock has a consensus rating of “Hold” and a consensus price target of $38.85.

Delek US Company Profile

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.