With the sale, Delek expects to eliminate approximately $14 million in annual operating expenses related to the business. Additionally, the closing of the transaction will allow Delek to eliminate certain environmental and asset retirement liability reserves currently on the balance sheet.

Delek's (DK) total expenses in the first quarter jumps 10.4% from the prior-year period to $2,182.7 million.

Delek US Holdings (DK) doesn't possess the right combination of the two key ingredients for a likely earnings beat in its upcoming report. Get prepared with the key expectations.

Icahn Capital Management releases portfolio updates for 1st quarter Continue reading...

Reported first quarter net loss of $(314.4) million and Adjusted EBITDA of $(29.7) millionReducing 2020 capital expenditures by approximately $75 million representing a 23%.

How far off is Delek US Holdings, Inc. (NYSE:DK) from its intrinsic value? Using the most recent financial data, we'll...

Delek US Holdings, Inc. (NYSE:DK) shareholders are probably feeling a little disappointed, since its shares fell 4.0...

Investing guru Carl Icahn has initiated a position in Delek US Holdings (DK), a 13F SEC filing confirms. The 84-year old snapped up 10.5 million DK shares, with a value of $166,000, during the 3-months ended 2020Q1. In March, Icahn revealed a 14.8% stake in Delek, leading the company to adopt a shareholder rights plan.“We have no choice but to take action to prevent a creeping change of control without a premium and on terms that would not deliver sufficient value for all shareholders,” Delek stated at the time.As well as Delek, Icahn also boosted his position in Occidental Petroleum (OXY) by 66 million shares (or 293%), Welbilt (WBT) by 2 million, Newell Brands (NWL) by 2.5 million, the beleaguered car rental company Hertz Global Holdings (HTZ) by 11 million, and Cheniere Energy (LNG) by 0.5 million. At the time of the filing, his total portfolio of 19 stocks was worth $18 billion.Occidental Petroleum is Icahn’s fifth biggest portfolio holding with a total of 88.6 million shares, making up 5.70% of the total portfolio. “While the stock remains somewhat of an option value given massive debt, we believe shares would react positively if all debt is pushed out beyond five years,” SunTrust analyst Neal Dingmann commented recently, as he upgraded the stock from Sell to Hold with a $13 price target.Aside from OXY, Icahn’s number one stock remains Icahn Enterprises, with CVR Energy (CVI) in second place- and Icahn has already stated that Delek “could present an excellent synergistic acquisition opportunity” for CVI.Delek recently announced that it closed the sale of the Bakersfield refinery for $40 million in cash. With the sale, DK expects to eliminate $14 million in annual operating expense and eliminate certain environmental obligations and asset retirement liability reserves on the balance sheet.“We think this is positive for DK, as we expect most (like us) ascribed zero value to the Bakersfield asset. This represents “found money” of more than $0.50 per share, and while there might be some tax leakage, opex savings would increase that figure” cheered RBC Capital Brad Heffern on May 7.Nonetheless he reiterated his Hold rating on the stock with a $16 price target, explaining that “DK does have some sum-of-the-parts upside, but we see the company potentially struggling to unlock this.” Shares in Delek have plummeted 47% on a year-to-date basis, and the stock shows a Hold analyst consensus.In the last three months the stock has received 8 hold ratings vs just 1 buy and 3 sells. The $20 average analyst price target indicates 15% upside potential lies ahead. (See Delek stock analysis on TipRanks).Related News: Hertz Reveals Weak Q1 Earnings; ‘Going Concern’ Update Uber Announces $750M Notes Offering, As GrubHub Takeover Reports Swirl Zoom’s Expansion Plans Feature Two New R&D Centers, Hiring Hundreds More recent articles from Smarter Analyst: * Agilent Up 5% On Solid Revenue Beat, But Top Analysts Stay Cautious * Facebook-Backed Reliance Launches Powerful Online Grocery Service In India * European Launch of Kylie Skin Boosts Coty Stock by 15% * Boeing Cuts 25% Of Its Workforce At Winnipeg Site; Top Analyst Slashes PT To $155

Delek US Holdings (NYSE:DK) shareholders are no doubt pleased to see that the share price has bounced 40% in the last...

Reported first quarter net income attributable to all partners of $27.8 million; EBITDA increased 23.5% year-over-yearLimited Partners' interest in net income increased.

Delek US Holdings, Inc. (DK) (“Delek US”) and Delek Logistics Partners, LP (DKL) (“Delek Logistics”) today announced an agreement for the dropdown of certain trucking assets to Delek Logistics for total consideration of $48 million in cash. The transaction is effective May 1, 2020, and is expected to be immediately accretive to Delek Logistics' distributable cash flow per unit. Approximately 80 – 85% of this EBITDA guidance is supported by a minimum revenue commitment from Delek US.

Moody's Investors Service (Moody's) assigned a B1 rating to Delek US Holdings, Inc.'s (Delek) proposed $200 million incremental term loan due 2025. The net proceeds from the term loan issuance will be used for general corporate purposes.

Delek Logistics (DKL) acquires the Big Spring Gathering System from Delek US. The acquired assets are likely to be immediately accretive to Delek Logistics' distributable cash flow per unit.

Image source: The Motley Fool. Delek US Holdings (NYSE: DK)Q1 2020 Earnings CallMay 06, 2020, 9:30 a.m. ETContents: Prepared Remarks Questions and Answers Call Participants Prepared Remarks: OperatorLadies and gentlemen, thank you for standing by and welcome to the Delek US first-quarter 2020 earnings call.

BRENTWOOD, Tenn., March 31, 2020 -- Delek US Holdings, Inc. (NYSE: DK) (“Delek US”) and Delek Logistics Partners, LP (NYSE: DKL) (“Delek Logistics”) today announced an.

BRENTWOOD, Tenn., April 16, 2020 -- Delek Logistics Partners, LP (NYSE: DKL) (“Delek Logistics”) today announced that the Partnership intends to issue a press release.

BRENTWOOD, Tenn., April 16, 2020 -- Delek US Holdings, Inc. (NYSE: DK) (“Delek US”) today announced that the Company intends to issue a press release summarizing first quarter.

Delek US Holdings (DK) delivered earnings and revenue surprises of -77.55% and 44.58%, respectively, for the quarter ended March 2020. Do the numbers hold clues to what lies ahead for the stock?

This distribution represents a 0.6 percent increase from the distribution for the fourth quarter 2019 of $0.885 per common limited partner unit ($3.54 per common limited partner unit annualized) and an 8.5 percent increase over Delek Logistics’ distribution for the first quarter 2019 of $0.82 per common limited partner unit ($3.28 per common limited partner unit annualized). The first quarter 2020 cash distribution is payable on May 12, 2020 to unitholders of record on May 5, 2020.

Delek US Holdings, Inc. (DK) (“Delek US”) and Delek Logistics Partners, LP (DKL) (“Delek Logistics”) today announce the following organizational and management changes along with appointment of a new Chief Financial Officer (CFO). Mr. Reuven Spiegel will be appointed EVP and assume the role of CFO following the departure of Assi Ginzburg in May. Mr. Spiegel has served as a member of the Board of our general partner since July 2014, as a member of the Audit Committee and Conflicts Committee since September 2014 and as a member of the EHS Committee since its inception in October 2016. Prior to joining the Board, Mr. Spiegel served as Chief Executive Officer of Israel Discount Bank Ltd. (TASE:DSCT) from 2011 through 2014 where he had previously held the position of Executive Vice President from 2001 through 2005.