Delek reports Q’ EPS (41c), consensus (45c)

Reports Q1 revenue $3.23B, consensus $3.3B…”We are proud of our operational excellence progress that reflects favorable EHS performance trends,” said Avigal Soreq, President and Chief Executive Officer of Delek US. “We navigated regional demand headwinds early in the quarter and delivered solid operational performance. This resulted in a quarter that was in line with our guidance.” “On the strategic front, we made significant headway,” Soreq continued. “Delek Logistics improved its financial strength and flexibility with the debt and equity offerings executed during the quarter. The $800 million of liquidity and additional volume activity in the units enhances our opportunities with DKL. In addition, we initiated a process to unlock the value inherit in the retail business. We are well positioned to execute the sum of the parts initiative and realize value for our stakeholders.” “Looking ahead, we will continue to execute on our priorities of running safe and reliable operations, enhancing our portfolio with strategic growth projects, and delivering shareholder value while maintaining our financial strength and flexibility,” Soreq concluded.