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Delek US Holdings Down 3.22% To $27.38 After Earnings Miss

Tuesday, February 27, 2024 10:43 AM | InvestorsObserver Analysts

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Delek US Holdings Down 3.22% To $27.38 After Earnings Miss

Tuesday, February 27, 2024 - Delek US Holdings (DK) reported downside earnings and upside revenues.

The consensus among analysts for Delek US Holdings was for an earnings per share (EPS) loss of $1.27 per share. The firm failed to meet those projections, reporting an EPS loss of $1.46 per share, a negative surprise of $0.19 (-15%). Profits fell 292% year-over-year after reporting an EPS of $0.76 in its year-ago quarter. The negative growth rate signals that the Energy company isn't performing well amid current economic conditions.

Revenues were upbeat at $4 billion. That represents a 9.60% decrease in revenues from the year-ago report and is 14.06% higher than consensus estimates set at $3.6 billion.

The stock is down 3.22% to $27.38 after the report.

The firm's higher revenue growth to earnings signals that the firm has not been able to reduce costs and has seen its profit margin decrease.

Wall Street Analysts had an average rating of Hold on the stock prior to the report.

Trading in the five days leading up to the report earned Delek US Holdings a Bullish Sentiment Rank from InvestorsObserver.

Delek US Holdings has performed a little above average during the past few months. Before the report, Delek US Holdings received a Long-Term Technical Rank by InvestorsObserver of 57, putting it in the top half of stocks. The firm set a 52-week high on September 11, 2023 at $31.22 and set a 52-week low on May 4, 2023 at $19.39.

Delek US Holdings Inc is an integrated energy business focused on petroleum refining, transportation, and storage; wholesale crude oil, intermediate, and refined products, and convenience store retailing. The company owns and operates independent refineries that produce a variety of petroleum products for transportation and industrial markets in the United States. Delek's logistics segment sells portions of the petroleum products its refineries produce. The logistics segment generates revenue through gathering, transporting, and storing crude oil and intermediate products, as well as by marketing, storing, and distributing refined products. The company also offers a collection of retail fuel and convenience stores operating in the Southeast region of the United States.

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