Delek US Holdings Inc., (DK), a company that focuses on petroleum refining, reported Tuesday an increase in its second quarter net income that was mainly attributable to increase in benchmark Gulf Coast, lower crude price and higher asphalt prices. Net income was higher than the Consensus estimates.
Net earnings were $67.8 million or $1.15 per share, compared to $62.1 million or $1.08 per share last year.
Adjusted net income for the current quarter was $69.0 million or $1.17 per share, compared to $52.9 million or $0.92 per share last year.
On average 9 analysts polled by Thomson Reuters estimated $1.03 per share for the current quarter. Analyst estimates typically exclude special items.
Net revenue was $2.1 billion, compared to $1.8 billion last year. The company's net revenue for the quarter was higher than estimates. Analysts estimated revenue to be $1.4 billion for the current quarter.
The second quarter was also positively influenced by the increase in the benchmark Gulf Coast 5-3-2 crack spread that averaged $25.42 per barrel, compared to $23.14 per barrel last year. Also a lower crude price environment and higher asphalt prices contributed positively to performance.
Refining segment contribution margin of the company increased to $133.2 million, compared to $122.3 million last year.
Uzi Yemin, President and Chief Executive Officer of Delek US Holdings, said, "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."
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June 05, 2026 16:18 ET A busy week for economic news flow saw a slew of reports being released that reflected the trends in the U.S. labor market. In Europe, economic growth and inflation data gained attention as the European Central Bank and Bank of England head for policy session later in the month. In Asia, the monetary policy session of the Indian central bank was in focus as the country, a major oil importer, reels under the pressures of a weaker rupee and rising inflation.