Delek US Holdings (DK), or Delek, is an integrated downstream energy firm which operates in three segments; petroleum refining, logistics and convenience store retailing. The company, with a market cap of $1.54 billion, gets most of its consolidated revenues, nearly 70%, from its refining business while the rest comes from its retail and logistics operations. Since Delek's future depends mainly on the performance of its refining business therefore this segment will be the focus of this article.
In its most recent conference call, Delek's CFO Assi Ginzburg pointed out that the market conditions during the second quarter were healthy, however, they were "less favorable" as compared to the same quarter last year, particularly in terms of the...
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