NYSE$DK

Delek US Holdings Inc · Q3 2025 earnings

Q3 2025 earnings · · Before market open · Investor relations

Briefing

DK reported Q3 2025, revenue of $2.89B, net income of $178M, diluted EPS of $2.93.

For Q3 2025, DK reported revenue of $2.89B, net income of $178M, diluted EPS of $2.93. Management discusses operating trends, liquidity, and strategic priorities as disclosed in the quarterly filing.

  • Revenue $2.89B.
  • Net income $178M.
  • Diluted EPS $2.93.

Headline financials

Total Revenue

$2.89B

Previous: $3.04B-5.1%
EPS (adj)

$2.93

Previous: -$1.20+344.2%
Adjusted EBITDA

$760M

Previous: $70.6M+975.9%
Refining Adjusted EBITDA

$697M

Previous: $10.2M+6732.4%
Logistics Adjusted EBITDA

$132M

Previous: $106M+23.9%
Total Consolidated Long-Term Debt

$3.18B

No prior period
Net Debt Consolidated

$2.55B

No prior period
Cash Excluding DKL

$624M

No prior period
Long-Term Debt Excluding DKL

$889M

No prior period
Net Debt Excluding DKL

$265M

No prior period
Refining Production Margin per bbl

$9.59

Previous: $4.88+96.5%
Refining Operating Expenses per bbl

$5.43

Previous: $5.12+6.1%
Total Refining Production Margin

$277M

Previous: $138M+100.8%
Supply, Marketing and Other

$411M

Previous: $10.7M+3743.9%
Total Adjusted Refining Margin

$689M

Previous: $149M+362.8%
Crude Utilization

100.6%

Previous: 97.8%+2.9%
Capital Expenditures

-$410M

Previous: -$237M-72.6%
Free Cash Flow

-$232M

Previous: -$314M+26.3%
Net Income

$178M

Previous: -$76.8M+331.8%
Operating Income

$296M

Previous: -$122M+342.6%
Gross Profit

$398M

Previous: -$20.2M+2068.8%
Cash & Equivalents

$631M

Previous: $1.04B-39.2%
Total Assets

$7.08B

Previous: $7.03B+0.7%

Revenue & EPS history

Delek US · Revenue · Quarterly

$2.89B

Q3 2025-5.1%vs Q3 2024
Beat estimate in 4 of 5 quarters(80%)
ActualEstimate

Revenue by segment

Delek US · $3.88K total across 2 segments · Q4 2024

  • Refining
    $3.78K
  • Logistics
    $99.4

Forward guidance

Management discusses DK's outlook, capital deployment, and key risks as disclosed in the earnings materials and periodic report.

Tailwinds

  • DK cited progress on strategic priorities in the quarterly filing.
  • Liquidity and balance sheet support continued operations and investment.

Headwinds

  • Macro, competitive, and regulatory factors may affect near-term results.
  • R&D, credit, or project timing can create quarter-to-quarter volatility.

Historical earnings impact

How earnings announcements have historically affected this stock's price.

Avg. return before/after earnings

Based on 20 quarterly earnings reports · overlaid with Q3 2025

Historical avgQ3 2025

+1.1%

Avg return

Earnings day

+1.7%

Avg return

5 days after

+5.2%

Avg return

30 days after

46%

12 / 26 earnings

Positive

+13.7%

Q1 2026

Best reaction

-6.8%

Q2 2020

Worst reaction

Earnings price reactions
QuarterReport dateReaction (Day 0)+5 days+30 days
Q1 2026+13.7%+17.0%+8.4%
Q4 2025+4.8%+18.7%+30.4%
Q3 2025+5.7%+4.2%-7.1%
Q2 2025-4.9%-1.8%+48.6%
Q1 2025+1.4%+11.3%+38.3%
Q4 2024+4.3%+5.0%+3.4%
Q3 2024-0.7%+7.3%-15.2%
Q2 2024+0.0%-4.8%-3.4%
Q1 2024+0.0%+8.6%-11.1%
Q3 2023-1.3%+0.1%-0.8%
Q2 2023+2.7%+2.9%+12.1%
Q1 2023+1.8%+3.1%+12.3%
Q3 2022-0.6%+0.1%-22.6%
Q2 2022-0.2%+7.1%+14.5%
Q1 2022-2.6%-13.2%+10.2%
Q3 2021+3.1%-0.2%-10.6%
Q2 2021+3.4%-0.4%+0.6%
Q1 2021-1.9%-6.4%-1.2%
Q3 2020+0.0%+18.5%+45.2%
Q2 2020-6.8%-0.7%-3.6%
Q1 2020+12.8%-4.5%+18.6%
Q3 2019+1.1%+0.0%-10.8%
Q2 2019-1.2%-8.2%-1.6%
Q1 2019-3.8%-9.7%-7.2%
Q3 2018+0.5%-4.4%-2.4%
Q2 2018-1.6%-6.0%-9.7%

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