Delek US Holdings Swings To Profit In Q3

(RTTNews) - Delek US Holdings, Inc. (DK), Friday announced that the company turned to profit during the third quarter, mainly due to strong EOP contribution in the period.

The company reported a net income of $178 million, or $2.93 a share, compared with a net loss of $76.8 million, or $1.20 a share, last year.

On adjusted basis, net income totaled $434.2 million, or $7.13 per share, compared with a net loss of $93 million, or $1.45 per share, a year earlier.

Analysts, on average, anticipated earnings of $0.18 per share for the period.

Adjusted EBITDA surged to $759.6 million from $70.6 million in the prior year.

Net revenues declined to $2,887 million from $3,024.4 million last year.

Looking ahead, the company expects adjusted EBITDA of $500 - $520 million, instead of previously estimated $480 to $520 million.

In the pre-market hours, DK is trading at $39.55, up 0.87 percent on the New York Stock Exchange.