This Day On The Street
Continue to site
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

Delek US Holdings Reports Record Second Quarter 2012 Net Income

El Dorado refining margin, excluding finished product buy/sell activity, decreased to $12.74 per barrel compared to $13.71 per barrel sold during the 63 days we operated in the second quarter of 2011.

Retail Segment

Retail segment contribution margin increased to $18.2 million in the second quarter 2012, versus $14.6 million in the second quarter 2011. Increases in fuel and merchandise same store sales and lower overall operating expenses contributed to improved performance as compared to second quarter 2011. Second quarter 2012 results were positively impacted by same store merchandise sales growth of 4.3 percent, which was supported by same store food service sales growth of 9.3 percent. In addition, same store fuel gallons sold increased 2.2 percent as declining fuel prices coincided with the peak driving season. The merchandise margin was 29.7 percent and the fuel margin was 18.2 cents per gallon for second quarter 2012.

At the conclusion of the second quarter 2012, the retail segment operated 374 locations, versus 390 locations at the end of the second quarter 2011.

Marketing Segment

Marketing segment contribution margin improved to $7.5 million in the second quarter 2012, versus $5.1 million in the second quarter 2011. The improved results were supported by an increase in total sales volumes of 4.5 percent, to 16,670 barrels per day, and the addition of bio-fuel sales.

Reconciliation of GAAP to Non-GAAP Financial Measures

Delek US reports its financial results in accordance with generally accepted accounting principles (GAAP). However, management believes that certain non-GAAP performance measures may provide users of financial information (i) increased transparency into the Company's operations; and (ii) additional meaningful comparisons between current results and results in prior operating periods. For these reasons, management is presenting certain adjustments to GAAP results in order to reflect the ongoing operations of the business. Management believes these measures will help investors better understand and evaluate the Company.

4 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
Only $9.95
14-Days Free
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 17,826.30 -279.47 -1.54%
S&P 500 2,081.18 -23.81 -1.13%
NASDAQ 4,931.8150 -75.9760 -1.52%

Partners Compare Online Brokers

Free Reports

Top Rated Stocks Top Rated Funds Top Rated ETFs