Company profile

Ticker
DK
Exchange
Website
CEO
Ezra Uzi Yemin
Employees
Incorporated
Location
Fiscal year end
Industry (SIC)
Former names
Delek Holdco, Inc.
SEC CIK

DK stock data

(
)

Calendar

7 Aug 20
13 Aug 20
31 Dec 20

News

Company financial data Financial data

Quarter (USD) Jun 20 Mar 20 Dec 19 Sep 19
Revenue 1.54B 1.82B 2.28B 2.33B
Net income 98.5M -307M 38M 60M
Diluted EPS 1.18 -4.28 0.44 0.68
Net profit margin 6.41% -16.86% 1.66% 2.57%
Operating income 22.8M -361.5M 48.2M 87.4M
Net change in cash 64.1M -170.4M -51.1M 55M
Cash on hand 849M 784.9M 955.3M 1.01B
Cost of revenue 1.43B 2.09B 2.13B 2.15B
Annual (USD) Dec 19 Dec 18 Dec 17 Dec 16
Revenue 9.3B 10.23B 7.27B 4.2B
Net income 336.2M 374.9M 322.6M -133.4M
Diluted EPS 4.06 3.95 4 -2.49
Net profit margin 3.62% 3.66% 4.44% -3.18%
Operating income 492.3M 611.9M 180.3M -49.2M
Net change in cash -124M 147.5M 242.6M 402M
Cash on hand 955.3M 1.08B 931.8M 689.2M
Cost of revenue 8.41B 9.26B 6.84B 4.17B

Financial data from Delek US earnings reports

Date Owner Security Transaction Code 10b5-1 $Price #Shares $Value #Remaining
10 Jun 20 Marcogliese Richard J Common Stock Grant Aquire A No 0 6,246 0 8,246
10 Jun 20 Wiessman David Common Stock Grant Aquire A No 0 6,246 0 63,426
10 Jun 20 Green Frederec Common Stock Payment of exercise Dispose F No 20.01 435 8.7K 154,554
10 Jun 20 Soreq Avigal Common Stock Payment of exercise Dispose F No 20.01 394 7.88K 59,159
10 Jun 20 Soreq Avigal Common Stock Grant Aquire A No 0 6,246 0 59,553
10 Jun 20 Finnerty William J Common Stock Grant Aquire A No 0 6,246 0 27,000
13F holders
Current Prev Q Change
Total holders 204 253 -19.4%
Opened positions 31 43 -27.9%
Closed positions 80 49 +63.3%
Increased positions 68 70 -2.9%
Reduced positions 72 103 -30.1%
13F shares
Current Prev Q Change
Total value 1.32B 2.64B -50.1%
Total shares 82.71M 78.59M +5.2%
Total puts 496.3K 329.2K +50.8%
Total calls 371.2K 411.3K -9.7%
Total put/call ratio 1.3 0.8 +67.0%
Largest owners
Shares Value Change
Icahn Carl C Et Al 10.54M $166.11M NEW
Vanguard 8.83M $139.09M +0.3%
BLK BlackRock 5.84M $91.98M +5.5%
Wellington Management 5.55M $87.39M +0.9%
Dimensional Fund Advisors 5.51M $86.89M +9.9%
STT State Street 3.77M $59.47M +21.6%
FMR 3.65M $57.57M +15.8%
Victory Capital Management 2.5M $39.37M -18.7%
Menora Mivtachim 2.02M $31.78M 0.0%
MCQEF Macquarie 2.01M $31.63M +2.2%
Largest transactions
Shares Bought/sold Change
Icahn Carl C Et Al 10.54M +10.54M NEW
PFG Principal Financial 1.09M -1.44M -56.9%
Nuveen Asset Management 1.38M -1.21M -46.7%
Norges Bank 0 -1.2M EXIT
Migdal Insurance & Financial 0 -1.12M EXIT
Copeland Capital Management 0 -877.05K EXIT
STT State Street 3.77M +669.83K +21.6%
Victory Capital Management 2.5M -576K -18.7%
GS Goldman Sachs 920.35K -525.89K -36.4%
FMR 3.65M +498.68K +15.8%

Financial report summary

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Risks
  • A substantial or extended decline in refining margins would reduce our operating results and cash flows and could materially and adversely impact our future rate of growth and the carrying value of our assets.
  • The availability and cost of RINs could have a material adverse effect on our financial condition and results of operations.
  • The availability and cost of RINs and other required credits could have an adverse effect on our financial condition and results of operations.
  • Increased supply of and demand for alternative transportation fuels, increased fuel economy standards and increased use of alternative means of transportation could lead to a decrease in transportation fuel prices and/or a reduction in demand for petroleum-based transportation fuels.
  • Competition in the refining and logistics industry is intense, and an increase in competition in the markets in which we sell our products could adversely affect our earnings and profitability.
  • Our retail segment is subject to loss of market share or pressure to reduce prices in order to compete effectively with a changing group of competitors in a fragmented retail industry.
  • We may seek to diversify and expand our retail fuel and convenience store operations, which may present operational and competitive challenges.
  • Decreases in commodity prices may lessen our borrowing capacities, increase collateral requirements for derivative instruments or cause a write-down of inventory.
  • A terrorist attack on our assets, or threats of war or actual war, may hinder or prevent us from conducting our business.
  • Legislative and regulatory measures to address climate change and GHG emissions could increase our operating costs or decrease demand for our refined products.
  • Increasing attention to environmental, social and governance matters may impact our business, financial results or stock price.
  • We are particularly vulnerable to disruptions to our refining operations because our refining operations are concentrated in four facilities.
  • Our operations are subject to business interruptions and casualty losses. Failure to manage risks associated with business interruptions could adversely impact our operations, financial condition, results of operations and cash flows.
  • The costs, scope, timelines and benefits of our refining projects may deviate significantly from our original plans and estimates.
  • We depend upon our logistics segment for a substantial portion of the crude oil supply and refined product distribution networks that serve our Tyler, Big Spring and El Dorado refineries.
  • Interruptions or limitations in the supply and delivery of crude oil, or the supply and distribution of refined products, may negatively affect our refining operations and inhibit the growth of our refining operations.
  • We are subject to risks associated with significant investments in the Permian Basin.
  • Our retail segment is dependent on fuel sales, which makes us susceptible to increases in the cost of gasoline and interruptions in fuel supply.
  • General economic conditions may adversely affect our business, operating results and financial condition.
  • The termination or expiration of our supply and offtake agreements could have a material adverse effect on our liquidity.
  • If there is negative publicity concerning our brand names or the brand names of our suppliers, fuel and merchandise sales in our retail segment may suffer.
  • Wholesale cost increases, vendor pricing programs and tax increases applicable to tobacco products, as well as campaigns to discourage their use, could adversely impact our results of operations in our retail segment.
  • Our insurance policies do not cover all losses, costs or liabilities that we may experience, and insurance companies that currently insure companies in the energy industry may cease to do so or substantially increase premiums.
  • We may not be able to successfully execute our strategy of growth through acquisitions.
  • Acquisitions involve risks that could cause our actual growth or operating results to differ adversely compared with our expectations.
  • Our future results will suffer if we do not effectively manage our expanded operations.
  • We may incur significant costs and liabilities with respect to investigation and remediation of environmental conditions at our facilities.
  • We could incur substantial costs or disruptions in our business if we cannot obtain or maintain necessary permits and authorizations or otherwise comply with health, safety, environmental and other laws and regulations.
  • Our Tyler refinery currently primarily distributes refined petroleum products via truck or rail. We do not have the ability to distribute these products into markets outside our local market via pipeline.
  • An increase in competition, and/or reduction in demand in the markets in which we purchase feedstocks and sell our refined products, could increase our costs and/or lower prices and adversely affect our sales and profitability.
  • Compliance with and changes in tax laws could adversely affect our performance.
  • Adverse weather conditions or other unforeseen developments could damage our facilities, reduce customer traffic and impair our ability to produce and deliver refined petroleum products or receive supplies for our retail fuel and convenience stores.
  • Our operating results are seasonal and generally lower in the first and fourth quarters of the year for our refining and logistics segments and in the first quarter of the year for our retail segment. We depend on favorable weather conditions in the spring and summer months.
  • A substantial portion of the workforce at our refineries is unionized, and we may face labor disruptions that would interfere with our operations.
  • We rely on information technology in our operations, and any material failure, inadequacy, interruption, cyber-attack or security failure of that technology could harm our business.
  • If we lose any of our key personnel, our ability to manage our business and continue our growth could be negatively impacted.
  • If we are, or become, a United States real property holding corporation, special tax rules may apply to a sale, exchange or other disposition of common stock, and non-U.S. holders may be less inclined to invest in our stock, as they may be subject to United States federal income tax in certain situations.
  • Loss of or reductions to tax incentives for biodiesel production may have a material adverse effect on earnings, profitability and cash flows relating to our renewable fuels facilities.
  • The price of our common stock may fluctuate significantly, and you could lose all or part of your investment.
  • Stockholder activism may negatively impact the price of our common stock.
  • Future sales of shares of our common stock could depress the price of our common stock, and could result in substantial dilution to our stockholders.
  • We depend upon our subsidiaries for cash to meet our obligations and pay any dividends.
  • We may be unable to pay future regular dividends in the anticipated amounts and frequency set forth herein.
  • Provisions of Delaware law and our organizational documents may discourage takeovers and business combinations that our stockholders may consider in their best interests, which could negatively affect our stock price.
  • Changes in our credit profile could affect our relationships with our suppliers, which could have a material adverse effect on our liquidity and our ability to operate our refineries at full capacity.
  • Our commodity and interest rate derivative activity may limit potential gains, increase potential losses, result in earnings volatility and involve other risks.
  • We are exposed to certain counterparty risks which may adversely impact our results of operations.
  • From time to time, our cash and credit needs may exceed our internally generated cash flow and available credit, and our business could be materially and adversely affected if we are not able to obtain the necessary cash or credit from financing sources.
  • Our debt levels may limit our flexibility in obtaining additional financing and in pursuing other business opportunities.
  • Our debt agreements contain operating and financial restrictions that might constrain our business and financing activities.
  • We may refinance a significant amount of indebtedness and otherwise require additional financing; we cannot guarantee that we will be able to obtain the necessary funds on favorable terms or at all.
  • We recorded goodwill and other intangible assets that could become impaired and result in material non-cash charges to our results of operations in the future.
Management Discussion
  • Consolidated net income for the second quarter of 2020 was $98.5 million compared to $83.8 million for the second quarter of 2019. Consolidated net income attributable to Delek for the second quarter of June 30, 2020 was $87.7 million, or $1.19 per basic share, compared to $77.3 million, or $1.01 per basic share, for the second quarter 2019. Explanations for significant drivers impacting net income as compared to the comparable period of the prior year are discussed in the sections below.
Content analysis ?
Positive
Negative
Uncertain
Constraining
Legalese
Litigous
Readability
H.S. junior Avg
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