Delek Us Holdings, Inc. · NYSE:DK
Delek Us — Q3 2021 Earnings Presentation
12 slides from Delek Us's earnings presentation, Nov 4, 2021
Slide 1: Third Quarter 2021 Earnings Call
November 5, 2021 Delek US Holdings, Inc. Third 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: Third Quarter 2021
3 Third Quarter 2021 1) See slides 10, 11 and 12 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 $0.24 and adjusted EPS of $0.13
Slide 4: Third Quarter 2021 Cash Flow
4 Third Quarter 2021 • Strong financial position with $831 million of cash on the balance sheet • Cash flow from operating activities of approx. $75 million • Cash flow from operating activities (excluding working capital) of approx. $117 million • Working capital impacted cash flow by approx. $(42)
Slide 5: Capitalization
5 Capitalization • Delek US Consolidated at September 30, 2021 ◦ Cash of $831 million ◦ Net debt of $1.39 billion • Excluding Delek Logistics at September 30, 2021 ◦ Cash of $826 million ◦ Net debt of $495 million • Balance sheet provides financial flexibility • Note: $156 million Federal Income Tax
Slide 6: Guidance
6 Guidance 4Q21 Guidance Range ($ in millions) Low High Consolidated Operating Expenses $150 $160 Consolidated G&A $58 $65 Consolidated Combined Operating Expenses and G&A $208 $225 Consolidated Depreciation and Amort. $65 $70 Net interest expense $32 $35 Total Crude Throughput 280,000 290,000
Slide 7: Competitive Cost Structure
Competitive Cost Structure 7 (1) (2) (3) (1) Rankings are calculated by applying an equal weighting to each respective company's consolidated General and Administrative Expenses and Operating Expenses for the period ended December 31, 2020 on a gross and aggregate basis divided by the following metr
Slide 8: Capital Expenditure
• 2021 spending guidance of approximately $205 to $210 million ◦ Gross spending inline with previous guidance • 2021 includes the following projects: ◦ Krotz Springs Turnaround ▪ Completed in March 2021 ◦ El Dorado Turnaround ▪ Completed in late April 2021 • Third Quarter 2021 capital expenditures w
Slide 9: 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 10: Non-GAAP Reconciliations of Adjusted Net Income (Loss)
10 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 September 30, Reconciliation of Net Income (Loss) attributable to Delek to Adjusted Net Loss) 2021 2020 (Unaudited) Reported net incom
Slide 11: Non-GAAP Reconciliations of Adjusted Net Income (Loss) per Share
11 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 September 30, Reconciliation of U.S. GAAP Income (Loss) per share to Adjusted Net Income (Loss) per share 2021 2020 (Unaudi
Slide 12: Non-GAAP Reconciliations of Adjusted EBITDA
12 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 2021 2020 (Unaudited) Reported net income (loss) attri