Delek US Holdings Reports 47.8% Revenue Growth and Net Income Turnaround in Q2 2026

Delek US Holdings, Inc. reported significant financial improvements in its latest quarterly results, with net revenues for the second quarter of 2026 reaching $4,087.0 million, a 47.8% increase from $2,764.6 million in the same period last year. The company also achieved a net income of $180.1 million, compared to a net loss of $90.1 million in the prior year, translating to earnings of $2.76 per share. For the first half of 2026, Delek's net revenues totaled $6,740.1 million, up 24.7% from $5,406.5 million in the first half of 2025, while the net loss narrowed to $10.8 million from $248.6 million.

The substantial revenue growth was primarily driven by increased prices for refined products, with U.S. Gulf Coast gasoline prices rising by 57.4%, ultra-low-sulfur diesel (ULSD) by 76.9%, and high-sulfur diesel (HSD) by 81.1%. Additionally, the logistics segment benefited from heightened crude activity, particularly in the Delaware Gathering operations. However, the company faced challenges with increased costs, particularly in materials and other expenses, which rose to $3,390.6 million in Q2 2026 from $2,415.0 million in Q2 2025, largely due to higher crude oil prices and RINs costs.

Strategically, Delek has made significant moves, including the completion of the Gravity Acquisition, which enhanced its logistics capabilities. The company also executed asset purchase agreements with Delek Logistics to reacquire certain refining-related assets, further integrating its operations. As of June 30, 2026, Delek's total assets increased to $7,551.4 million from $6,847.7 million at the end of 2025, while total liabilities rose to $7,128.7 million from $6,300.4 million, reflecting ongoing investments and operational expansions.

Operationally, Delek's refining segment processed an average of 315,555 barrels per day in Q2 2026, with a refining margin of $707.5 million, a significant increase from $238.3 million in Q2 2025. The logistics segment also saw revenue growth, with Q2 2026 revenues of $384.7 million, up 56.1% from $246.4 million in Q2 2025, driven by increased marketing operations and crude activity. The company reported a total employee headcount of 2,500 as of June 30, 2026, reflecting its ongoing operational needs.

Looking ahead, Delek remains focused on enhancing operational efficiency and financial strength while navigating the uncertainties of the global oil market, including geopolitical tensions and regulatory changes. The company plans to continue its enterprise optimization initiatives to improve margins and cash flow, while also maintaining a balanced approach to capital allocation, including dividends and share repurchases.