Delek Us Holdings, Inc. · NYSE:DK
Delek Us — Q2 2021 Earnings Presentation
12 slides from Delek Us's earnings presentation, Aug 3, 2021
Slide 1: Second Quarter 2021 Earnings Call
August 4, 2021 Delek US Holdings, Inc. Second 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: Second Quarter 2021
3 Second 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 3) While we cannot know what our Q2 EBITDA would
Slide 4: Second Quarter 2021
4 Second Quarter 2021 • Strong financial position with $833 million of cash on the balance sheet • Cash flow from operating activities of approx. $169 million • Cash flow from operating activities (excluding working capital) of approx. $(58) million • Working capital impacted cash flow by approx. $2
Slide 5: Capitalization
5 Capitalization • Delek US Consolidated at June 30, 2021 ◦ Cash of $833 million ◦ Net debt of $1.41 billion • Excluding Delek Logistics at June 30, 2021 ◦ Cash of $831 million ◦ Net debt of $485 million • Balance sheet provides financial flexibility • Note: $156 million Federal Tax Income Tax Recei
Slide 6: Guidance
6 Guidance 3Q21 Guidance Range ($ in millions) Low High Consolidated Operating Expenses $145 $155 Consolidated G&A $57 $62 Consolidated Depreciation and Amort. $62 $67 Net interest expense $32 $35 Total Crude Throughput 280,000 290,000
Slide 7: Capital Expenditure
• 2021 spending guidance of $175 to $185 million (including turnarounds) ◦ Net of estimated insurance proceeds • 2021 includes the following projects: ◦ Krotz Springs Turnaround ▪ Completed in March 2021 ◦ El Dorado Turnaround ▪ Completed in late April 2021 • Second Quarter 2021 capital expenditures
Slide 8: Path Forward
Path Forward Potential Small Refiner Exemptions Expected Insurance Proceeds Tax Refund Received Potential Cash Inflows
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 June 30, Reconciliation of Net Income (Loss) attributable to Delek to Adjusted Net Loss) 2021 2020 (Unaudited) Reported net loss attri
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 June 30, Reconciliation of U.S. GAAP Income (Loss) per share to Adjusted Net Income (Loss) per share 2021 2020 (Unaudited)
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 June 30, Reconciliation of Net Income (Loss) attributable to Delek to Adjusted EBITDA 2021 2020 (Unaudited) Reported net income (loss) attributab