Delek Us Holdings, Inc. · NYSE:DK
Delek Us — Q4 2022 Earnings Presentation
12 slides from Delek Us's earnings presentation, Feb 28, 2023
Slide 1: Fourth Quarter 2022 Earnings Conference Call
Fourth Quarter 2022 Earnings Conference Call February 28, 2023 Exhibit 99.2
Slide 2: Disclaimers
2 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 slid
Slide 3: Overview
3 Overview 2022 Best year for Delek US Shareholder friendly Unlocking value and cost initiatives update Tyler Refinery turnaround Record Logistics financial performance Tyler Refinery, Tyler, TX
Slide 4: 4th Quarter Highlights
4 4th Quarter Highlights $ Millions (except per share) Adjusted Net Income per share $0.88 Adjusted EBITDA $221 Adjustments $243 Shareholder Distributions* $104 *includes dividends and share repurchases
Slide 5: 4th Quarter Adjusted EBITDA
5 4th Quarter Adjusted EBITDA 4Q22 vs 4Q21 ($MM) $182 $91 $8 $(60) 4Q22 Adjusted EBITDA $33 $185 $23 $(2) $(18) $221 4Q21 Adj. EBITDA Refining Logistics Retail Corporate 4Q22 Adj. EBITDA $— $50 $100 $150 $200 $250 $300
Slide 6: 4th Quarter Consolidated Cash Flow
6 4th Quarter Consolidated Cash Flow ($MM) *includes cash and cash equivalents $1,154 $(291) $(112) $90 $841 9/30/2022 Cash Balance Operating Activities Investing Activities Financing Activities 12/31/2022 Cash Balance $— $200 $400 $600 $800 $1,000 $1,200 $1,400
Slide 7: Capital Expenditures
7 Capital Expenditures $ Millions 2022 2023 Est. Refining $ 138 $ 202 Logistics 131 81 Retail 34 31 Corporate/Other 40 36 Delek Total $ 343 $ 351 2023 Capital Expenditures Drivers 10% 68% 22% Regulatory Sustaining Growth
Slide 8: 1st Quarter 2023 Outlook
8 1st Quarter 2023 Outlook $ Millions (except throughput) Low High Consolidated Operating Expenses $180 $190 Consolidated G&A $90 $95 Consolidated Depreciation and Amortization $80 $85 Net Interest Expense $55 $60 Total Crude Throughput (barrels per day) 250,000 260,000
Slide 9: Supplemental Slides
9 Supplemental Slides
Slide 10: 2022 Consolidated Cash Flow
10 2022 Consolidated Cash Flow ($MM) *includes cash and cash equivalents $857 $722 $728 $(297) $(306) $(626) $(236) $842 12/31/2021 Cash Balance Operating Cash Flow (excluding working capital) Financing Activities Working Capital Investing Activities 3 Bear Return to Shareholders 12/31/2022 Cash Bal
Slide 11: Reconciliation of U.S. GAAP Income (Loss) per share to Adjusted Net Income (Loss) Per Share
11 11 Reconciliation of U.S. GAAP Income (Loss) per share to Adjusted Net Income (Loss) Per Share Three Months Ended December 31, $ per share (unaudited) 2022 2021 As Adjusted (1) (Unaudited) Reported diluted loss per share $ (1.73) $ (0.18) Adjusting items, after tax (per share) (2) (3) Net invento
Slide 12: Reconciliation of Net Income (Loss) attributable to Delek to Adjusted EBITDA
12 12 Reconciliation of Net Income (Loss) attributable to Delek to Adjusted EBITDA Three Months Ended December 31, $ in millions (unaudited) 2022 2021 As Adjusted (1) Reported net income (loss) attributable to Delek $ (118.7) $ (13.4) Add: Interest expense, net 62.6 36.7 Income tax expense (benefit)