This Day On The Street
Continue to site right-arrow
This account is pending registration confirmation. Please click on the link within the confirmation email previously sent you to complete registration.
Need a new registration confirmation email? Click here
Cramer's Action Alerts PLUS - See his portfolio and get alerts BEFORE every trade. Learn more NOW!

Delek US Holdings Reports Record Second Quarter 2012 Net Income

Delek US Holdings, Inc. (NYSE: DK), a diversified energy company with assets in the petroleum refining, marketing and retail industries, today announced financial results for the second quarter 2012.

For the three months ended June 30, 2012, Delek US reported net income of $67.8 million, or $1.15 per diluted share, versus net income of $62.1 million, or $1.08 per diluted share in the second quarter 2011.

Excluding special items, the Company reported adjusted net income of $69.0 million, or $1.17 per share, in the second quarter 2012. Adjusted net income in the second quarter 2012 excludes $1.2 million of after tax expense or $0.02 per diluted share, incurred in connection with the potential initial public offering of our logistics assets. This compares to adjusted net income of $52.9 million, or $0.92 per diluted share, in the second quarter 2011.

Uzi Yemin, President and Chief Executive Officer of Delek US Holdings, remarked: “Our Company continues to perform extremely well as all three of our segments delivered year-over-year improvements in contribution margin. In our refining segment, we were able to overcome challenges and still post strong operating results. Our refineries' proximity to increasing supplies of crude oil continues to provide us access to higher volumes of cost advantaged WTI-linked crude oil. Additionally, during the second quarter, we took strategic steps to create flexibility to supply the El Dorado refinery with up to 15,000 barrels per day of crude delivered via rail including heavy Canadian, Bakken and mid-continent crudes. These steps, in addition to increased locally sourced crude, supported our ability to average more than 137,000 barrels per day of combined throughput at our refineries during the month of July."

The second quarter was positively impacted by the increase in the benchmark Gulf Coast 5-3-2 crack spread, which averaged $25.42 per barrel during the second quarter 2012, compared to $23.14 per barrel during the same period last year. Overall, a lower crude price environment and higher asphalt prices also contributed positively to performance.

1 of 8

Check Out Our Best Services for Investors

Action Alerts PLUS

Portfolio Manager Jim Cramer and Director of Research Jack Mohr reveal their investment tactics while giving advanced notice before every trade.

Product Features:
  • $2.5+ million portfolio
  • Large-cap and dividend focus
  • Intraday trade alerts from Cramer
Quant Ratings

Access the tool that DOMINATES the Russell 2000 and the S&P 500.

Product Features:
  • Buy, hold, or sell recommendations for over 4,300 stocks
  • Unlimited research reports on your favorite stocks
  • A custom stock screener
Stocks Under $10

David Peltier uncovers low dollar stocks with serious upside potential that are flying under Wall Street's radar.

Product Features:
  • Model portfolio
  • Stocks trading below $10
  • Intraday trade alerts
14-Days Free
Try it NOW
Only $9.95
Try it NOW
14-Days Free
Try it NOW

Check Out Our Best Services for Investors

Dividend Stock Advisor

David Peltier identifies the best of breed dividend stocks that will pay a reliable AND significant income stream.

Product Features:
  • Diversified model portfolio of dividend stocks
  • Updates with exact steps to take - BUY, HOLD, SELL
Trifecta Stocks

Every recommendation goes through 3 layers of intense scrutiny—quantitative, fundamental and technical analysis—to maximize profit potential and minimize risk.

Product Features:
  • Model Portfolio
  • Intra Day Trade alerts
  • Access to Quant Ratings
Options Profits

Our options trading pros provide over 100 monthly option trading ideas and strategies to help you become a well-seasoned trader.

Product Features:
  • Actionable options commentary and news
  • Real-time trading community
Try it NOW
Try it NOW
Try it NOW
To begin commenting right away, you can log in below using your Disqus, Facebook, Twitter, OpenID or Yahoo login credentials. Alternatively, you can post a comment as a "guest" just by entering an email address. Your use of the commenting tool is subject to multiple terms of service/use and privacy policies - see here for more details.
Submit an article to us!


DOW 17,776.12 -200.19 -1.11%
S&P 500 2,067.89 -18.35 -0.88%
NASDAQ 4,900.8850 -46.5560 -0.94%

Partners Compare Online Brokers

Free Reports

Free Newsletters from TheStreet

My Subscriptions:

After the Bell

Before the Bell

Booyah! Newsletter

Midday Bell

TheStreet Top 10 Stories

Winners & Losers

Register for Newsletters
Top Rated Stocks Top Rated Funds Top Rated ETFs