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Delek US Holdings' Q2 income rises, beats Street estimate

Delek US Holdings Inc. on Aug. 5 reported an adjusted net income of $90.6 million, or $1.17 per share, for the second quarter, up from $78.9 million, or 92 cents per share, a year ago.

The refiner beat the S&P Global Market Intelligence normalized consensus EPS estimate at 81 cents for the quarter.

On a GAAP basis, net income attributable to Delek totaled $77.3 million during the quarter, down from $79.1 million in the prior-year period.

The company had net revenues of $2.48 billion for the quarter, down from $2.64 billion a year earlier. The revenue was driven by the refining segment at $2.15 billion, a decrease from the segment's revenue of $2.32 billion in the prior-year period. The logistics and retail segments also saw a drop in revenue for the quarter, compared with the same period last year.

Adjusted EBITDA reached $204.9 million during the quarter, up from $186.1 million a year earlier.

Delek Logistics Partners LP also announced net income attributable to partners of $24.9 million, or 69 cents per unit, for the second quarter, down from $25.6 million, or 79 cents per unit, in the prior-year period.

Net revenues amounted to $155.3 million during the quarter, down from $166.3 million a year ago.