Delek Us Holdings, Inc. · NYSE:DK
Delek Us — Q4 2021 Earnings Presentation
13 slides from Delek Us's earnings presentation, Feb 23, 2022
Slide 1: Fourth Quarter 2021 Earnings Call
February 24, 2022 Delek US Holdings, Inc. Fourth Quarter 2021 Earnings Call Exhibit 99.2
Slide 2: Disclaimers
Disclaimers 2 Forward Looking Statements: Delek US Holdings, Inc. (“Delek US”) and Delek Logistics Partners, LP (“Delek Logistics”; and collectively with Delek US, “we” or “our”) are traded on the New York Stock Exchange in the United States under the symbols “DK” and ”DKL”, respectively. These slid
Slide 3: Fourth Quarter 2021
3 Fourth Quarter 2021 (1) See slides 11, 12 and 13 for a reconciliation of adjusted net income to net income, adjusted net income per share to net income per share, and adjusted EBITDA to net income. (2) See earnings release for composition of headwinds • Reported EPS of $(0.57) and adjusted EPS of
Slide 4: Fourth Quarter 2021
4 Fourth Quarter 2021 • Strong financial position with $857 million of cash on the balance sheet • Cash flow from operating activities of approx. $161 million • Cash flow from operating activities (excluding working capital) of approx. $51 million • Working capital impacted cash flow by approx. $110
Slide 5: Capitalization
5 Capitalization • Delek US Consolidated at December 31, 2021 ◦ Cash of $857 million ◦ Net debt of $1.36 billion • Excluding Delek Logistics at December 31, 2021 ◦ Cash of $853 million ◦ Net debt of $467 million • Balance sheet provides financial flexibility ($ in millions)(1) December 31, 2021 Dece
Slide 6: Guidance
6 Guidance 1Q22 Guidance Range ($ in millions) Low High Consolidated Operating Expenses $160 $170 Consolidated G&A $60 $65 Consolidated Combined Operating Expenses and G&A $220 $235 Consolidated Depreciation and Amort. $65 $70 Net interest expense $32 $37 Total Crude Throughput 275,000 285,000
Slide 7: 2022 Capital Expenditure Guidance
• 2022 spending guidance of approximately $250 to $260 million ◦ Growth capital focused toward: ▪ Permian Gathering business ▪ Retail new stores to industry • 2021 includes the following projects: ◦ Krotz Springs Turnaround ▪ Completed in March 2021 ◦ El Dorado Turnaround ▪ Completed in late April 2
Slide 8: Majority of Capital Increase is Directed towards Growth in DPG
Majority of Capital Increase is Directed towards Growth in DPG 8 (1) (2) (3)(1)(2)(3)(1)(2)(3)
Slide 9: Sustainability Progress Update
Sustainability Progress Update 9 (1) (2) (3)(1)(2)(3)(1)(2)(3) • Announced first GHG emissions reduction goals in our 2020-2021 Sustainability report ◦ Our goal is to reduce our Scope 1 & Scope 2 emissions by 34% by 2030 through a combination of reductions and offsets. • EEO-1 included in the report
Slide 10: A Diversified Refining and Logistics Company
Complementary Logistics Systems Significant Organic Growth / Margin Improvement Opportunities Focus on Long-Term Shareholder Returns Financial Flexibility Permian Focused Refining System Questions and Answers A Diversified Refining and Logistics Company
Slide 11: Non-GAAP Reconciliations of Adjusted Net Income (Loss)
11 Non-GAAP Reconciliations of Adjusted Net Income (Loss) Delek US Holdings, Inc. Reconciliation of Amounts Reported Under U.S. GAAP $ in millions Three Months Ended December 31, Reconciliation of Net Income (Loss) attributable to Delek to Adjusted Net Loss) 2021 2020 (Unaudited) Reported net income
Slide 12: Non-GAAP Reconciliations of Adjusted Net Income (Loss) per Share
12 Non-GAAP Reconciliations of Adjusted Net Income (Loss) per Share Delek US Holdings, Inc. Reconciliation of Amounts Reported Under U.S. GAAP per share data Three Months Ended December 31, Reconciliation of U.S. GAAP Income (Loss) per share to Adjusted Net Income (Loss) per share 2021 2020 (Unaudit
Slide 13: Non-GAAP Reconciliations of Adjusted EBITDA
13 Non-GAAP Reconciliations of Adjusted EBITDA Delek US Holdings, Inc. Reconciliation of Amounts Reported Under U.S. GAAP $ in millions Three Months Ended December 31, Reconciliation of Net Income (Loss) attributable to Delek to Adjusted EBITDA 2021 2020 (Unaudited) Reported net income (loss) attrib