Delek US Holdings, Inc. (DK) Q3 2025 Earnings Call

Investor webinar replay

Replay transcript excerpt

Joseph Israel, EVP Operations, and Mark Hobbs, EVP Chief Financial Officer. Today's presentation material can be found on the Investor Relations section of the DELIC US website. Slide 2 contains our safe harbor statement regarding forward-looking information. Any forward-looking information shared during today's call will include risks and uncertainties that may cause actual results to differ materially from today's comments. Factors that could cause actual results to differ are included here as well as within our SEC filings. The company assumes no obligation to update any forward-looking information. I will now turn the call over to Abigail for opening remarks. Abigail? Thank you, Robert. Good morning, and thank you for joining us today. In the third quarter, excluding SREs, DELEC reported strong adjusted EPS of $1.52 and adjusted EBITDA of approximately $319 million. These results are a reflection of DELEC's strong momentum. We had excellent contribution from our enterprise optimization plan with a notable progress from all business units. As a result, we are again increasing our EOP guidance to at least $180 million on an annual run rate basis. During the third quarter, EPA approved several of our pending 2019 to 2024 ESRI petition. And we expect to receive proceeds of approximately $400 million for monetization of the granted RINs. We are also encouraged by the guidance EPA has issued about SREs for future RVO. From everything we see today, we continue to expect appropriate action on SREs in the future. Some of the PART efforts also continue to progress well. DKL continues to make progress in improving its premier position in the Permian Basin. As a result of the strong progress DKL has made this year, we are increasing DKL full-year EBITDA guidance to between $...