Delek US ( (DK) ) has released its Q1 earnings. Here is a breakdown of the information Delek US presented to its investors.
Delek US Holdings, Inc. is a diversified downstream energy company operating in the petroleum refining, logistics, pipelines, and renewable fuels sectors, with significant refining operations in Texas, Arkansas, and Louisiana.
In its first quarter of 2025, Delek US reported a net loss of $172.7 million, or $2.78 per share, with an adjusted net loss of $144.4 million, or $2.32 per share. The company continues to focus on strategic objectives, including its Enterprise Optimization Plan (EOP), which aims to deliver a $120 million improvement in cash flow by the second half of 2025.
Key financial metrics for the quarter included an adjusted EBITDA of $26.5 million, a significant decrease from the previous year, primarily due to lower refining crack spreads. The logistics segment, however, showed improvement with an adjusted EBITDA of $116.5 million, driven by recent acquisitions. Delek US also reduced its ownership in Delek Logistics Partners to 63.4% following the acquisition of Gravity Water Midstream.
Despite the challenging market conditions, Delek US made progress in its strategic goals, including advancing midstream deconsolidation and enhancing economic separation from Delek Logistics. The company also repurchased $32 million of its common stock and paid $15.9 million in dividends during the quarter.
Looking forward, Delek US management remains committed to executing its strategic priorities, focusing on operational reliability, further midstream deconsolidation, and enhancing shareholder value while maintaining financial strength and flexibility.