Overview

• Downstream energy company's Q4 2025 revenue missed analyst expectations

• Adjusted EPS for Q4 2025 was $2.31

• Company purchased $20 mln in common stock during the quarter

Outlook

• Delek Logistics expects 2026 adjusted EBITDA of $520 mln to $560 mln

• Company aims to enhance cash flow through operational excellence and cost optimization

• Company focuses on growth in the Permian Basin with investments in gas processing

Result Drivers

• ENTERPRISE OPTIMIZATION - Co advanced its Enterprise Optimization Plan, achieving ~$50 mln in improvements in Q4

• INVENTORY AGREEMENT RESTRUCTURING - Restructuring of Inventory Intermediation Agreement to generate at least $40 mln in free cash flow

• REFINING SEGMENT - Increased crack spreads and regulatory relief under renewable fuel standards boosted refining segment results

Company press release: ID:nBw1Q777ka

Key Details

Analyst Coverage

• The current average analyst rating on the shares is "hold" and the breakdown of recommendations is 4 "strong buy" or "buy", 9 "hold" and 1 "sell" or "strong sell"

• The average consensus recommendation for the oil & gas refining and marketing peer group is "buy."

• Wall Street's median 12-month price target for Delek US Holdings Inc is $39.00, about 7.2% above its February 26 closing price of $36.38

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