Delek Us Holdings, Inc. · NYSE:DK
Delek Us — Q4 2020 Earnings Presentation
12 slides from Delek Us's earnings presentation, Feb 24, 2021
Slide 1: Fourth Quarter 2020 Earnings Call
Exhibit 99.2 Delek US Holdings, Inc. Fourth Quarter 2020 Earnings Call February 24, 2021
Slide 2: Disclaimers
Disclaimers 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 slides
Slide 3: Fourth Quarter 2020: Transforming to More Diversified EBITDA
Fourth Quarter 2020 Transforming to More Diversified EBITDA • Reported EPS of $(3.98) and adjusted EPS of $(2.77) (1) ◦ Adjusted net loss of $204 million and adjusted EBITDA loss of $138 million (1) ▪ Adjusted quarterly results were impacted by net headwinds totaling approximately $38 million (after
Slide 4: Fourth Quarter 2020 Cash Flow
Fourth Quarter 2020 • Strong financial position with $788 million of cash on the balance sheet • Cash flow from operating activities of approx. $117 million • Cash flow from operating activities (excluding working capital) of approx. $(126) million • Working capital impacted cash flow by approx. $24
Slide 5: Capitalization
Capitalization ($ in millions) December 31, 2020 December 31, 2019 • Delek US Consolidated at December 31, 2020 Current Portion of Long-Term Debt $33 $36 ◦ Cash of $788 million Long-Term Debt $2,315 $2,031 ◦ Net debt of $1.56 billion Total Debt $2,348 $2,067 Cash $788 $955 • Excluding Delek Logistic
Slide 6: Guidance
Guidance 1Q21 Guidance Range ($ in millions) Low High Consolidated Operating Expenses $150 $160 Consolidated G&A $52 $57 Consolidated Depreciation and Amort. $63 $66 Net interest expense $27 $30 Total Crude Throughput 165,000 175,000 6
Slide 7: Capital Expenditure
Capital Expenditure • 2021 spending guidance of $150 to $160 For Year Ended million (including turnarounds) ($ in millions) December 31, 2020 2021 Forecast ◦ Reducing CAPEX approximately 35% Y/Y Refining: Regulatory $41.3 $4.4 Maintenance/reliability $158.9 $92.2 • 2020 includes the following projec
Slide 8: Renewable Diesel
Renewable Diesel GCE Holdings Acquisitions, LLC recently purchased the Bakersfield a Delek has established a ‘capital light’ approach to Refinery from Delek and is retooling it into the largest facility of its Renewable Diesel kind in the western United States which can produce renewable fuels from
Slide 9: Questions and Answers
Questions and Answers Significant Organic Focus on Long-Term Growth / Margin Shareholder Returns Improvement Opportunities An Integrated and Permian Focused Diversified Refining, Financial Flexibility Refining System Logistics and Marketing Company Complementary Logistics Systems
Slide 10: Non-GAAP Reconciliations of Adjusted Net Income
Non-GAAP Reconciliations of Adjusted Net Income 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 Income (Loss) 2020 2019 (Unaudited) Reported net income (
Slide 11: Non-GAAP Reconciliations of Adjusted Net Income per Share
Non-GAAP Reconciliations of Adjusted Net Income 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 2020 2019 (Unaudited) Report
Slide 12: Non-GAAP Reconciliations of Adjusted EBITDA
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 2020 2019 (Unaudited) Reported net income (loss) attributa