Delek Us Holdings, Inc. · NYSE:DK
Delek Us — Q2 2022 Earnings Presentation
12 slides from Delek Us's earnings presentation, Aug 4, 2022
Slide 1: Delek US Holdings, Inc. Second Quarter 2022 Earnings Call
August 4, 2022 Delek US Holdings, Inc. Second Quarter 2022 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: Second Quarter 2022
3 Second Quarter 2022 (1) See slides 9, 10, 11, and 12 for a reconciliation of adjusted net income to net income, adjusted net income per share to net income per share, adjusted EBITDA to net income, and contribution margin to adjusted segment contribution margin. (2) Excluding intercompany eliminat
Slide 4: Second Quarter 2022 Cash Flows
4 Second Quarter 2022 • Strong financial position with $1.24 billion of cash on the balance sheet • Cash flow from operating activities of approx. $559 million ◦ Cash flow from operating activities (excluding working capital) of approx. $552 million ◦ Working capital benefited cash flow by approx. $
Slide 5: Capitalization
5 Capitalization • Delek US Consolidated at June 30, 2022 ◦ Cash of $1.24 billion ◦ Net debt of $1.57 billion • Excluding Delek Logistics at June 30, 2022 ◦ Cash of $1.23 billion ◦ Net debt of $65 million • Balance sheet provides financial flexibility • DKL debt balance reflects 3Bear Delaware - NM,
Slide 6: Guidance
6 Guidance 3Q22 Guidance Range ($ in millions) Low High Consolidated Operating Expenses $185 $195 Consolidated G&A $67 $72 Consolidated Depreciation and Amort. $74 $78 Net Interest Expense $46 $50 Total Crude Throughput 285,000 295,000
Slide 7: Capital Expenditure
• 2022 spending guidance of approximately $290 to $300 million ◦ Growth capital focused toward: ▪ Early close of 3Bear Delaware - NM, LLC acquisition ▪ Accelerating DPG activity ▪ New Retail stores to industry • Second Quarter 2022 capital expenditures were $60 million • 2021 includes the following
Slide 8: Questions and Answers
Questions and Answers ESG-Conscious Investments with Clear Value Propositions and Sustainable Returns Long-term Sustainable Business Model Culture of Innovation and Operational Excellence Digital Transformation V Refinery of the Future Operational Optimization and Improved Margin Capture
Slide 9: Reconciliation of Net Income to Adjusted Net Income
9 Reconciliation of Net Income (Loss) attributable to Delek to Adjusted Net Income (Loss) Three Months Ended June 30, 2022 2021 $ in millions (unaudited) 2022 As Adjusted (1) (Unaudited) Reported net income (loss) attributable to Delek $ 361.8 $ (56.7) Adjusting items (2) Inventory LCM valuation los
Slide 10: Reconciliation of GAAP Income per Share to Adjusted Net Income per Share
10 Reconciliation of U.S. GAAP Income (Loss) per share to Adjusted Net Income (Loss) per share: Three Months Ended June 30, $ in millions (unaudited) 2022 2021 As Adjusted(1) (Unaudited) Reported diluted income (loss) per share $ 5.05 $ (0.77) Adjusting items, after tax (per share) (2) (3) Net inven
Slide 11: Reconciliation of Net Income to Adjusted EBITDA
11 Reconciliation of Net Income (Loss) attributable to Delek to Adjusted EBITDA Three Months Ended June 30, $ in millions (unaudited) 2022 2021 As Adjusted(1) Reported net income (loss) attributable to Delek $ 361.8 $ (56.7) Add: Interest expense, net 43.6 33.1 Loss on extinguishment of debt — — Inc
Slide 12: Reconciliation of Segment Contribution Margin to Adjusted Segment Contribution Margin
12 Reconciliation of U.S. GAAP Segment Contribution Margin to Adjusted Segment Contribution Margin Three Months Ended June 30, 2022 $ in millions (unaudited) Refining Logistics Retail Corporate, Other and Eliminations Consolidated Reported segment contribution margin $ 618.3 $ 69.3 $ 18.2 $ (28.3) $