other material
confidence high
sentiment neutral
materiality 0.70
Delek US 2023 net income falls to $19.8M; Q1 2024 throughput guidance 269-281k bpd
Delek US Holdings, Inc.
- Net income attributable to Delek US dropped to $19.8M in 2023 from $257.1M in 2022; Adjusted EBITDA fell to $949.7M.
- Cash from operations $1,013.6M; consolidated net debt reduced to $1.78B; DK ex-DKL net debt only $77.6M.
- Completed DKL public equity offering of ~3.6M units (net $132.5M) and $650M private placement of 8.625% Senior Notes due 2029.
- Q1 2024 guidance: crude throughput 269-281k bpd; operating expenses $215-225M; total capex forecast $330M for 2024.
- Evaluating value-unlocking alternatives including highlighting retail segment multiple of 6.5x-10x.