Delek US beats Q2 revenue estimates, on track to meet FY EBITDA guidance

Delek US Holdings

05/08/2026 11:49

Overview
US downstream energy firm's Q2 revenue rose and beat analyst expectations
Adjusted EPS for Q2 rose sharply yr/yr, driven by higher refining margins and improved operations
Company purchased $20 mln in common stock and refinanced debt, extending maturities and reducing interest expense

Outlook
Delek US expects no more planned refinery turnarounds for the rest of 2026
Company says it is well positioned to benefit from a constructive margin environment
Delek Logistics remains on track to meet annual EBITDA guidance of $520-560 mln

Result Drivers
REFINING MARGINS - Higher crack spreads drove a significant increase in refining segment adjusted EBITDA
DISTILLATE YIELD AND OPERATIONS - High distillate yield, access to advantaged crudes, improved BSR performance and limited turnaround activity supported results
LOGISTICS SEGMENT - Increased adjusted EBITDA in logistics segment driven by higher wholesale margins and increased interest income from sales-type leases

Company press release: ID:nBw8JC7F7a

Key Details
Metric
Beat/Miss
Actual
Consensus Estimate
Q2 Revenue
Beat
$4.09 bln
$3.61 bln (8 Analysts)
Q2 Adjusted EPS
 
$5.48
 
Q2 EPS
 
$2.71
 
Q2 Adjusted Net Income
 
$343.90 mln
 
Q2 Net Income
 
$169.50 mln
 
Q2 Adjusted EBITDA
 
$638.70 mln
 

Analyst Coverage
The current average analyst rating on the shares is "hold" and the breakdown of recommendations is 6 "strong buy" or "buy", 6 "hold" and 1 "sell" or "strong sell"
The average consensus recommendation for the oil & gas refining and marketing peer group is "buy."
Wall Street's median 12-month price target for Delek US Holdings Inc is $52.00, about 21.5% below its August 4 closing price of $66.20
The stock recently traded at 11 times the next 12-month earnings vs. a P/E of 17 three months ago

Reuters Recommended Reads
Aug 3 - EPA gives Delek refinery biofuel relief, finds HF Sinclair petitions ineligible
Aug 4 - Marathon Petroleum's profits surge on big refining margin boost
Aug 4 - Par Pacific Q2 revenue, adjusted net income ease past estimates

For questions concerning the data in this report, contact Estimates.Support@lseg.com. For any other questions or feedback, contact reuters.support@thomsonreuters.com.

(This story was created using Reuters automation and AI based on LSEG and company data. It was checked and edited by a Reuters journalist prior to publication.)