Delek Us Holdings, Inc. · NYSE:DK

Delek Us — Q3 2020 Earnings Presentation

12 slides from Delek Us's earnings presentation, Nov 5, 2020

  1. Slide 1: Third Quarter 2020 Earnings Call

    Exhibit 99.2 Delek US Holdings, Inc. Third Quarter 2020 Earnings Call November 5, 2020

  2. Slide 2: Disclaimers - Forward Looking Statements

    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

  3. Slide 3: Third Quarter 2020 Transforming to More Diversified EBITDA

    Third Quarter 2020 Transforming to More Diversified EBITDA • Reported EPS of $(1.20) and adjusted EPS of $(1.01) (1) ◦ Adjusted net loss of $74 million and adjusted EBITDA of $22 million (1) ▪ Adjusted quarterly results were impacted by net benefits totaling approximately $31 million (after-tax) or

  4. Slide 4: Third Quarter 2020 cash flow and financial position

    Third Quarter 2020 • Strong financial position with $808 million of cash on the balance sheet • Cash flow from operating activities of approx. $(37) million • Working capital impacted cash flow by approx. $(40) million • Total investing activities of approx. $7 million: ◦ Cash capital expenditures o

  5. Slide 5: Capitalization

    Capitalization ($ in millions) September 30, 2020 December 31, 2019 • Delek US Consolidated at September 30, 2020 ◦ Cash of $808 million Current Portion of Long-Term Debt $33 $36 Long-Term Debt $2,441 $2,031 ◦ Net debt of $1.7 billion Total Debt $2,474 $2,067 Cash $808 $955 • Excluding Delek Logisti

  6. Slide 6: Guidance

    Guidance 4Q20 Guidance Range ($ in millions) Low High Consolidated Operating Expenses $130 $140 Consolidated G&A $57 $63 Consolidated Depreciation and Amort. $63 $66 Net interest expense $28 $31 Total Crude Throughput 225,000 235,000 ***Krotz Springs Total Crude Throughput 20,000 30,000 Nine Months

  7. Slide 7: Capital Expenditure

    Capital Expenditure • Expected 2020 capital expenditures of $249 million ◦ $203.2 million: Refining Nine Months Ending ◦ $21.0 million: Logistics ($ in millions) September 30, 2020 2020 Forecast ◦ $9.9 million: Retail Refining: ◦ $14.6 million: Corporate Regulatory $41.2 $42.3 Maintenance/reliabilit

  8. Slide 8: Pathway to Improving Cash Flow

    Pathway to Improving Cash Flow • Reducing CAPEX approximately 40% Y/Y; 2021 spending guidance of $150 to $160 million (including turnarounds) • Exceeding G&A and operating cost reduction guidance in 2020; expect incremental $80 million reductions in 2021 • Krotz Springs Flexibility Plan ◦ Option 1:

  9. 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

  10. 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 September 30, Reconciliation of Net Income (Loss) attributable to Delek to Adjusted Net Income (Loss) 2020 2019 (Unaudited) Reported net income

  11. 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 September 30, Reconciliation of U.S. GAAP Income (Loss) per share to Adjusted Net Income (Loss) per share 2020 2019 (Unaudited) Repor

  12. 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 September 30, Reconciliation of Net Income (Loss) attributable to Delek to Adjusted EBITDA 2020 2019 (Unaudited) Reported net (loss) income attribut

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