Delek US (NYSE:DK – Get Free Report) issued its earnings results on Friday. The oil and gas company reported $13.55 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $8.05 by $5.50, FiscalAI reports. The business had revenue of $4.39 billion during the quarter, compared to analysts’ expectations of $3.88 billion. Delek US had a return on equity of 109.03% and a net margin of 1.86%. The business’s revenue for the quarter was up 52.1% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $7.13 EPS.
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 Stock Up 1.9%
Shares of NYSE:DK traded up $1.17 during trading on Friday, reaching $63.66. 1,632,537 shares of the stock were exchanged, compared to its average volume of 1,649,891. Delek US has a 1-year low of $25.85 and a 1-year high of $82.27. The stock has a fifty day moving average of $73.68 and a two-hundred day moving average of $53.75. The company has a debt-to-equity ratio of 7.53, a current ratio of 0.76 and a quick ratio of 0.47. The firm has a market cap of $3.90 billion, a price-to-earnings ratio of 9.33, a price-to-earnings-growth ratio of 0.51 and a beta of 0.61.
Delek US Increases Dividend
The company 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. The ex-dividend date of this dividend is Tuesday, November 10th. This is a positive change from Delek US’s previous quarterly dividend of $0.2550. This represents a $1.20 dividend on an annualized basis and a dividend yield of 1.9%. Delek US’s payout ratio is currently 28.65%.
Wall Street Analysts Forecast Growth
Several analysts recently weighed in on DK shares. TD Cowen boosted their price objective on shares of Delek US from $85.00 to $90.00 and gave the stock a “buy” rating in a research note on Thursday, October 22nd. Morgan Stanley lifted their target price on Delek US from $45.00 to $81.00 and gave the stock an “equal weight” rating in a report on Monday, September 14th. Wall Street Zen upgraded shares of Delek US from a “buy” rating to a “strong-buy” rating in a report on Sunday, August 9th. Wells Fargo & Company lifted their price target on shares of Delek US from $82.00 to $95.00 and gave the company an “overweight” rating in a research note on Wednesday, October 14th. Finally, Mizuho lowered shares of Delek US from an “outperform” rating to a “neutral” rating and upped their price objective for the company from $66.00 to $83.00 in a report on Thursday, October 8th. One research analyst has rated the stock with a Strong Buy rating, five have assigned a Buy rating and eight have assigned a Hold rating to the company’s stock. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $75.42.
View Our Latest Stock Analysis on Delek US
Delek US News Roundup
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
Insiders Place Their Bets
In other Delek US news, Director Vicky Sutil sold 6,397 shares of the business’s stock in a transaction on Friday, September 4th. The shares were sold at an average price of $71.50, for a total transaction of $457,385.50. Following the completion of the sale, the director owned 26,407 shares in the company, valued at approximately $1,888,100.50. The trade was a 19.50% decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director William Finnerty sold 2,943 shares of the business’s stock in a transaction on Friday, September 11th. The shares were sold at an average price of $77.17, for a total transaction of $227,111.31. Following the sale, the director owned 30,405 shares of the company’s stock, valued at $2,346,353.85. This trade represents a 8.83% decrease in their position. The SEC filing for this sale provides additional information. Insiders have sold a total of 163,377 shares of company stock worth $11,082,485 in the last quarter. Insiders own 3.56% of the company’s stock.
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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