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1/8/26 , 3:54 PM EX - 99.1 2 dk - ex991earningsreleasex09.htm EX - 99.1 Document Delek US Exhibit 99.1 • • • • Delek US Holdings Reports Third Quarter 2021 Results Reported third quarter net income of $ 18.1 million or $ 0.24 per share and adjusted EBITDA of $ 109.8 million Improved operational performance and reliability drove significantly stronger EBITDA Recognizing insurance proceeds from fire / freeze events in the first half of 2021 Competitive cost structure positions DK to capture improving margins • • Continue working with EPA on small refinery exemptions ( SRE's ) Recent all - time high in DKL units reduces DKL cost of capital and reinforces intrinsic value within DK Wink to Webster pipeline JV poised to contribute to performance throughout 2022 Maintained strong balance sheet with $ 831 million of cash as of September 30 , 2021 BRENTWOOD , Tenn .-- November 4 , 2021 -- Delek US Holdings , Inc. ( NYSE : DK ) ( " Delek US ” ) today announced financial results for its third quarter ended September 30 , 2021. Delek US reported a third quarter 2021 net income of $ 18.1 million , or $ 0.24 per share , versus net loss of $ ( 88.1 ) million , or $ ( 1.20 ) per share , for the quarter ended September 30 , 2020. On an adjusted basis , Delek US reported Adjusted net income of $ 9.9 million , or $ 0.13 per share , for the third quarter 2021. This compares to Adjusted net loss of $ ( 99.5 ) million , or $ ( 1.35 ) per share , in the prior year . Adjusted earnings before interest , taxes , depreciation and amortization ( " Adjusted EBITDA " ) was $ 109.8 million for the third quarter compared to Adjusted EBITDA of $ ( 11.2 ) million in the prior year . Net income and Adjusted net income include approximately $ 11.2 million ( after - tax ) , or $ 0.15 per share , of net tailwinds which is comprised of the following : $ ( 3.0 ) million ( pre - tax ) representing the combined net effect of a favorable estimated " other inventory impact " and an unfavorable other net inventory hedging impact , as outlined on pages 14 and 10 , respectively ; a $ 21.5 million ( pre - tax ) one - time catch - up adjustment to capitalize manufacturing overhead in refining finished goods ; and a $ ( 4.1 ) million ( pre - tax ) incremental equity method investment loss related specifically to an agreement termination with a related joint venture that we also recognized . See further discussion in the Consolidated Results section below . Uzi Yemin , Chairman , President and Chief Executive Officer of Delek US , stated , " After a challenging first half of 2021 , improved operations and reliability are allowing us to capture the stronger market environment resulting in significantly stronger EBITDA . We have begun receiving insurance proceeds and continue working with our insurance carriers to offset financial impacts relating to the freeze and fire that occurred in the first half of the year . We also continue to engage with the EPA in pursuit of small refinery exemptions . " Mr. Yemin continued , " Midstream remains resilient with DKL on - track to deliver a 5 % distribution increase on a full - year basis . DKL units recently traded at an all - time high , reflecting the significant value of DK's 80 % ownership stake . Finally , the Wink to Webster project is expected to progressively ramp - up and contribute to performance throughout 2022. " Liquidity . As of September 30 , 2021 , Delek US had a cash balance of $ 830.6 million and total consolidated long - term debt of $ 2,222.2 million , resulting in Net debt of $ 1,391.6 million . As of September 30 , 2021 , Delek Logistics Partners , LP ( NYSE : DKL ) ( " Delek Logistics " ) had $ 901.4 million of total long - term debt and $ 4.9 million of cash , which are included in the consolidated amounts on Delek US ' balance sheet . Excluding Delek Logistics , Delek US had approximately $ 825.7 million in cash and $ 1,320.8 million of long - term debt , or a $ 495.1 million Net debt position . 1 | https://www.sec.gov/Archives/edgar/data/1694426/000169442621000182/dk-ex991earningsreleasex09.htm 1/22