Delek US Holdings (NYSE: DK) disclosed a quarterly loss of $(1.46) per share on February 27, 2024, which was below the analyst consensus estimate of $(1.27) by 14.96%. This represents a significant 292.11% decrease from earnings of $0.76 per share in the same quarter last year.
The company’s quarterly sales of $4.05 billion surpassed the analyst consensus estimate of $3.55 billion by 14.06%. The decline in earnings was primarily attributed to reduced volumes and lower average margins during the fourth quarter of 2022 compared to the same period in 2021.
Delek US also reported a net loss of $118.7 million for the fourth quarter, equivalent to $1.73 per share, but managed to achieve an adjusted net income of $60.8 million or $0.88 per share.
During the fourth quarter, Delek US repurchased approximately 2.8 million shares of common stock for around $89.6 million and raised its quarterly regular dividend by $0.01 to $0.22 per share. As of December 31, 2022, the company had a cash balance of $841.3 million and total consolidated long-term debt of $3,053.7 million.
Looking forward, Delek US is optimistic about seizing market opportunities, particularly in refining, with no significant planned downtime scheduled until late 2024. The company is actively engaged in cost reduction efforts and strategic initiatives aimed at enhancing shareholder value.
Investors seeking more in-depth financial information and updates on Delek US Holdings can participate in their earnings conference calls and access relevant materials on the company’s website.
DK Stock Performance on February 27, 2024: Mixed Results with Positive Momentum
On February 27, 2024, DK stock exhibited mixed performances based on the information provided by CNN Money. The stock was trading near the top of its 52-week range and above its 200-day simple moving average, indicating a positive trend in the stock’s price momentum.
The price of DK shares increased by $0.03 since the market last closed, representing a modest 0.11% rise. The stock closed at $28.29 on the previous trading day. However, in pre-market trading, the stock dropped by $0.78, which may indicate some volatility and uncertainty in the stock’s performance for the day ahead.
DK Stock Shows Impressive Financial Performance with 90% Revenue Increase in 2024
On February 27, 2024, DK stock showed impressive performances based on the financial data provided by CNN Money. The company reported a total revenue of $20.25 billion over the past year, which represents a significant increase of 90.13% compared to the previous year. Additionally, the total revenue for the last quarter was $4.75 billion, showing a 13.18% increase since the previous quarter.
Furthermore, DK reported a net income of $257.10 million over the past year, marking a substantial increase of 226.34% compared to the previous year. The net income for the last quarter was $128.70 million, showing an impressive increase of 1650.6% since the previous quarter.
Earnings per share (EPS) for DK stock were reported at $3.60 over the past year, reflecting a notable increase of 230.7% compared to the previous year. The EPS for the last quarter was $1.97, showing a remarkable increase of 1657.77% since the previous quarter.
Investors may view these positive financial indicators as a sign of the company’s growth and profitability, potentially leading to increased interest and investment in DK stock.
