Delek US reports Q1 adjusted EPS ($2.32), consensus ($2.43)

Reports Q1 revenue $2.64B, consensus $2.63B. “We showed incremental progress in achieving our Sum of the Parts goals and improving the overall profitability of the company, despite continued challenging market conditions,” said Avigal Soreq, President and Chief Executive Officer of Delek US (DK). “We are excited about the progress we are making with our EOP and expect to deliver cash flow improvements of at least ~$120 million by 2H’2025. The new intercompany agreements further increase the economic separation with DKL and unlocks in excess of $250 million of liquidity. They are also an incremental step in our top strategic goal to complete midstream deconsolidation. On a pro-forma basis, ~80% of DKL’s cash flows will be coming from third-party sources after these agreements.”