Delek US and Delek Logistics beat third-quarter expectations

what happened

Delek US Holdings reported third-quarter revenue of $4.39 bln against a consensus of $3.92 bln from nine analysts. Adjusted earnings per share came in at $13.55. The company credited higher refining margins, smooth operations and strong distillate and jet yields. Benchmark crack spreads rose 191% year on year.

Delek US also repurchased $50 mln of stock and plans a buyback of up to $100 mln in the fourth quarter. Delek Logistics Partners posted revenue of $372.44 mln against $353.54 mln expected and lifted its 2026 adjusted EBITDA guidance to $530-560 mln. It attributed the gain to higher gathering and processing margins and the completion of an integrated sour gas system at the Libby Complex. Reuters reports this based on LSEG and company data.

why it matters

The key point for markets is the strong refining margin: high crack spreads support profitability at US refiners, and share buybacks typically support the stock. Reuters reports the average rating on Delek US shares as buy, with a median analyst price target of $84.50.

market impact

Delek US shares and US refiners: strong refining margins support the sector

• ▲Delek US shares pressure up — strong refining margins and share buybacks support the stock

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instruments