Delek US (NYSE:DK) Releases Quarterly Earnings Results, Beats Estimates By $5.50 EPS

Key Points

• Delek US beat third-quarter estimates: Earnings per share were $13.55 versus $8.05 expected, while revenue of $4.39 billion topped the $3.88 billion consensus and rose 52.1% year over year.
• Management raised its Enterprise Optimization Plan target to at least $250 million in annual run-rate improvements, citing stronger refining performance and operational gains.
• Delek increased its quarterly dividend about 18% to $0.30 per share and expects roughly $100 million in share repurchases in Q4.

Delek US (NYSE:DK - Get Free Report) issued its quarterly earnings data on Friday. The oil and gas company reported $13.55 earnings per share for the quarter, beating the consensus estimate of $8.05 by $5.50, FiscalAI reports. The company had revenue of $4.39 billion for the quarter, compared to analyst estimates of $3.88 billion. Delek US had a net margin of 1.86% and a return on equity of 109.03%. The company's revenue was up 52.1% on a year-over-year basis. During the same period in the prior year, the firm earned $7.13 earnings per share.

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

• Delek reported third-quarter adjusted net income of about $843 million and adjusted EBITDA of about $1.28 billion. Excluding the 50% RVO adjustment and small-refinery exemption impacts, adjusted EBITDA was about $1.04 billion and adjusted EPS was $10.53.
• The company raised its Enterprise Optimization Plan target to at least $250 million in annual run-rate improvements, citing about $60 million of contribution in Q3 and stronger refining capture rates. Management said all four refineries ran reliably and Big Spring has exceeded its post-turnaround value-creation targets.
• Delek received small-refinery exemptions for all four refineries for 2025 and expects about $425 million in proceeds in Q4; management estimates the total accounting benefit at current RIN prices could reach $750 million–$800 million. Executives said the company intends to remain compliant but did not disclose its RIN position or detailed monetization strategy, and future relief remains dependent on policy.
• Delek increased its quarterly dividend by about 18% to $0.30 per share and expects roughly $100 million in Q4 share repurchases. Standalone Delek ended the quarter with about $22 million in net cash, and management said it does not plan to hold excess cash.
• Delek Logistics raised its 2026 EBITDA guidance to $530 million–$560 million and expects another $60 million of run-rate EBITDA from organic projects in 2027. Delek said third-party EBITDA is expected to exceed 80% on a pro forma basis, supporting its sum-of-the-parts strategy, though management gave no timeline for reducing its ownership below 50%.

Delek US Price Performance

Shares of NYSE:DK traded up $1.17 during trading on Friday, reaching $63.66. 1,632,537 shares of the company traded hands, compared to its average volume of 1,649,891. The firm has a market capitalization of $3.90 billion, a PE ratio of 9.33, a PEG ratio of 0.51 and a beta of 0.61. Delek US has a 52 week low of $25.85 and a 52 week high of $82.27. The company has a quick ratio of 0.47, a current ratio of 0.76 and a debt-to-equity ratio of 7.53. The company's 50 day moving average is $73.68 and its two-hundred day moving average is $53.75.

Delek US Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Wednesday, November 18th. Stockholders of record on Tuesday, November 10th will be given a dividend of $0.30 per share. This represents a $1.20 dividend on an annualized basis and a dividend yield of 1.9%. The ex-dividend date is Tuesday, November 10th. This is a positive change from Delek US's previous quarterly dividend of $0.2550. Delek US's dividend payout ratio is currently 28.65%.

Insider Buying and Selling

In related news, EVP Reuven Spiegel sold 10,000 shares of the company's stock in a transaction dated Tuesday, August 18th. The shares were sold at an average price of $68.21, for a total transaction of $682,100.00. Following the completion of the sale, the executive vice president owned 36,435 shares of the company's stock, valued at $2,485,231.35. This represents a 21.54% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director Vicky Sutil sold 6,397 shares of the company's stock in a transaction dated Friday, September 4th. The stock was sold at an average price of $71.50, for a total transaction of $457,385.50. Following the sale, the director directly owned 26,407 shares of the company's stock, valued at $1,888,100.50. This represents a 19.50% decrease in their position. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders have sold 163,377 shares of company stock valued at $11,082,485 in the last ninety days. Insiders own 3.56% of the company's stock.

Analysts Set New Price Targets

Several research firms have weighed in on DK. Freedom Broker started coverage on shares of Delek US in a report on Wednesday, October 7th. They issued a "hold" rating and a $86.00 price target on the stock. Wells Fargo & Company boosted their price objective on Delek US from $82.00 to $95.00 and gave the stock an "overweight" rating in a report on Wednesday, October 14th. Wall Street Zen raised Delek US from a "buy" rating to a "strong-buy" rating in a research report on Sunday, August 9th. Weiss Ratings upgraded Delek US from a "hold (c+)" rating to a "buy (b-)" rating in a research note on Thursday, October 8th. Finally, Citigroup reiterated a "neutral" rating on shares of Delek US in a research note on Thursday, August 6th. One research analyst has rated the stock with a Strong Buy rating, five have issued a Buy rating and eight have given a Hold rating to the company. According to data from MarketBeat, the company has an average rating of "Moderate Buy" and an average target price of $75.42.

Delek US News Summary

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

• Positive Sentiment: For Q3 2026, adjusted EPS was $13.55, versus the $8.05 FactSet estimate, while revenue of $4.39 billion exceeded the $3.88 billion consensus and rose 52.1% year over year. Reports attributed the strong results to refining performance and margins. Earnings results
• Positive Sentiment: Management raised its Enterprise Optimization Plan improvement guidance to at least $250 million from $220 million, signaling confidence in further operational gains and cash-flow generation. Company results release
• Positive Sentiment: Delek is targeting $100 million in share repurchases during Q4, which could support per-share value if completed. Buyback and improvement plan

About Delek US

Delek US Holdings, Inc is a downstream energy company headquartered in Brentwood, Tennessee. The company operates petroleum refineries and related logistics assets, producing and transporting fuels and other refined petroleum products for markets primarily in the southern United States.

Through its refining operations, Delek processes crude oil into products such as gasoline, diesel, jet fuel and asphalt. Its logistics business, conducted in part through Delek Logistics Partners, owns and operates pipelines, crude oil gathering systems, storage terminals, transportation assets and other infrastructure that supports the movement of crude oil and refined products.

Delek has also operated convenience stores and fuel stations, particularly in Texas and neighboring states, under brands including DK and Alon.

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