Delek US reports Q2 adjusted EPS (56c), consensus (83c)

Reports Q2 revenue $2.76B, consensus $2.68B. “We continue to make progress in achieving our Sum of the Parts goals and improving the overall profitability of the company by achieving our original $120 million EOP target one quarter in advance,” said Avigal Soreq, president and CEO of Delek US (DK). “Our EOP efforts are exceeding expectations and today we have increased our run-rate cash flow improvement target to $130 to 170 million. DKL’s processing plant further strengthens DKL’s premier position in the Permian basin. The new processing plant, ongoing AGI initiatives, and DKL’s increasing economic separation from DK are getting us closer to unlocking the full value of our midstream assets.”