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Delek US Holdings to Report Q3 Earnings: Here's How It Will Fare
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Key Takeaways
DK is expected to report Q3 2026 earnings of $7.39 per share and revenues of $3.88 billion.
Middle East tensions, Strait of Hormuz disruptions and crude differentials could pressure refining margins.
DK's Enterprise Optimization Plan targets at least $220 million in annualized free cash flow improvements.
Delek US Holdings, Inc. (DK - Free Report) is set to release third-quarter 2026 results on Nov. 6. The Zacks Consensus Estimate for earnings is pegged at $7.39 per share on revenues of $3.88 billion.
Let us delve into the factors that might have influenced DK’s performance in the to-be-reported quarter. Before that, it is worth taking a look at the company’s performance in the last reported quarter.
Highlights of Q2 Earnings & Surprise History
In the last reported quarter, the Brentwood, TN-based oil and gas refining and marketing company’s adjusted earnings beat the consensus mark. DK reported adjusted earnings of $5.48 per share, surpassing the Zacks Consensus Estimate of $2.21 by 148%, supported by stronger year-over-year performance across both segments. Net revenues of $4.1 billion exceeded the Zacks Consensus Estimate by 34.8%.
DK’s earnings beat the Zacks Consensus Estimate in each of the trailing four quarters, delivering an average surprise of 242.99%.
The Zacks Consensus Estimate for third-quarter 2026 earnings has witnessed no upward or downward movement over the past seven days. The estimated figure indicates 399.34% year-over-year growth. Moreover, the Zacks Consensus Estimate for revenues indicates growth of approximately 34.40% from the year-ago period’s actual.
Factors to Consider Ahead of DK’s Q3 Release
Delek US Holdings’ total revenues are likely to have increased in the quarter to be reported. The Zacks Consensus Estimate for third-quarter revenues is pegged at a higher mark than the year-ago quarter’s level. Delek US Holdings is likely to have benefited from favorable refining margins in the third quarter of 2026, supported by stronger gasoline and distillate crack spreads amid geopolitical disruptions in the Middle East and tighter global fuel supplies. The company's high distillate yield and access to advantaged Permian crude are expected to have supported better margin capture.
The successful completion of the Big Spring refinery turnaround, improved operational reliability and the absence of further planned turnarounds for the remainder of 2026 are likely to have supported higher throughput. Management has provided a third-quarter system throughput target of 296,000-316,000 barrels per day. Additionally, the EPA's approval of small refinery exemptions for the 2025 compliance year is expected to have eased some renewable fuel compliance costs. Delek US Holdings’ Enterprise Optimization Plan, which targets at least $220 million in annualized free cash flow improvements, is also expected to have supported margins and cost efficiency.
Furthermore, continued strength in Delek Logistics Partners' crude, natural gas and water businesses might have provided additional support to consolidated earnings. Despite the favorable refining environment, Delek US Holdings’ third-quarter performance might have faced pressure from geopolitical uncertainty and volatility in crude oil prices. Continued tensions in the Middle East, disruptions to oil transportation through the Strait of Hormuz and the Russia-Ukraine conflict might have created uncertainty around crude supply, procurement costs and refining margins. Moreover, unfavorable movements in Brent-WTI and WTI Midland-WTI Cushing differentials are likely to have weakened the company's feedstock cost advantage.
Elevated renewable identification number prices and fluctuations in natural gas costs, particularly Henry Hub prices, might have further increased refining expenses and offset some margin improvements. Additionally, persistently high fuel prices are expected to have weakened global petroleum demand and put pressure on gasoline and distillate margins. Based on our model estimates, depreciation and amortization are expected to increase 13.4% year over year to $108.6 million in the third quarter.
Higher operating expenses of $220-$230 million, general and administrative expenses of $50-$55 million and net interest expense of $75-$85 million, as projected by management for the third quarter, could also limit earnings growth.
What Does Our Model Say About DK Stock?
Our proven model does not conclusively predict an earnings beat for Delek US Holdings this season. The combination of a positive Earnings ESP and a Zacks Rank #1 (Strong Buy), 2 (Buy) or 3 (Hold) increases the odds of an earnings beat. But this is not the case here.
DK’s Earnings ESP: Earnings ESP, which represents the difference between the Most Accurate Estimate and the Zacks Consensus Estimate, for this company is 0.00%. You can uncover the best stocks to buy or sell before they’re reported with our Earnings ESP Filter.
DK’s Zacks Rank: DK currently sports a Zacks Rank #1.
Stocks With the Favorable Combination
Here are a few firms from other sectors that you may want to consider, as these have the right combination of elements to post an earnings beat this reporting cycle.
EquipmentShare.com provides technology-enabled construction solutions, including equipment rentals, new and used equipment sales, maintenance services and fleet management through its proprietary T3 platform. EQPT is valued at $4.35 billion.
AMC Global Media Inc. (AMCX - Free Report) has an Earnings ESP of +681.82% and a Zacks Rank #3. The firm is scheduled to release earnings on Nov. 9, 2026.
AMC Global Media operates entertainment businesses, including television networks, streaming services, film distribution and television production through AMC Studios. AMCX is valued at $325.46 million.
CNH Industrial (CNH - Free Report) has an Earnings ESP of +50.00% and a Zacks Rank #3. The firm is scheduled to release earnings on Nov. 9, 2026.
CNH Industrial designs, manufactures and sells agricultural and construction equipment, including tractors, harvesters, combines, excavators and other machinery under its Case IH and New Holland brands. CNH is valued at $14.56 billion.
View the Zacks #1 Rank List
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Delek US Holdings to Report Q3 Earnings: Here's How It Will Fare
Key Takeaways
Delek US Holdings, Inc. (DK - Free Report) is set to release third-quarter 2026 results on Nov. 6. The Zacks Consensus Estimate for earnings is pegged at $7.39 per share on revenues of $3.88 billion.
Let us delve into the factors that might have influenced DK’s performance in the to-be-reported quarter. Before that, it is worth taking a look at the company’s performance in the last reported quarter.
Highlights of Q2 Earnings & Surprise History
In the last reported quarter, the Brentwood, TN-based oil and gas refining and marketing company’s adjusted earnings beat the consensus mark. DK reported adjusted earnings of $5.48 per share, surpassing the Zacks Consensus Estimate of $2.21 by 148%, supported by stronger year-over-year performance across both segments. Net revenues of $4.1 billion exceeded the Zacks Consensus Estimate by 34.8%.
DK’s earnings beat the Zacks Consensus Estimate in each of the trailing four quarters, delivering an average surprise of 242.99%.
This is depicted in the graph below:
Delek US Holdings, Inc. Price and EPS Surprise
Delek US Holdings, Inc. price-eps-surprise | Delek US Holdings, Inc. Quote
DK Stock’s Trend in Estimate Revision
The Zacks Consensus Estimate for third-quarter 2026 earnings has witnessed no upward or downward movement over the past seven days. The estimated figure indicates 399.34% year-over-year growth. Moreover, the Zacks Consensus Estimate for revenues indicates growth of approximately 34.40% from the year-ago period’s actual.
Factors to Consider Ahead of DK’s Q3 Release
Delek US Holdings’ total revenues are likely to have increased in the quarter to be reported. The Zacks Consensus Estimate for third-quarter revenues is pegged at a higher mark than the year-ago quarter’s level. Delek US Holdings is likely to have benefited from favorable refining margins in the third quarter of 2026, supported by stronger gasoline and distillate crack spreads amid geopolitical disruptions in the Middle East and tighter global fuel supplies. The company's high distillate yield and access to advantaged Permian crude are expected to have supported better margin capture.
The successful completion of the Big Spring refinery turnaround, improved operational reliability and the absence of further planned turnarounds for the remainder of 2026 are likely to have supported higher throughput. Management has provided a third-quarter system throughput target of 296,000-316,000 barrels per day. Additionally, the EPA's approval of small refinery exemptions for the 2025 compliance year is expected to have eased some renewable fuel compliance costs. Delek US Holdings’ Enterprise Optimization Plan, which targets at least $220 million in annualized free cash flow improvements, is also expected to have supported margins and cost efficiency.
Furthermore, continued strength in Delek Logistics Partners' crude, natural gas and water businesses might have provided additional support to consolidated earnings. Despite the favorable refining environment, Delek US Holdings’ third-quarter performance might have faced pressure from geopolitical uncertainty and volatility in crude oil prices. Continued tensions in the Middle East, disruptions to oil transportation through the Strait of Hormuz and the Russia-Ukraine conflict might have created uncertainty around crude supply, procurement costs and refining margins. Moreover, unfavorable movements in Brent-WTI and WTI Midland-WTI Cushing differentials are likely to have weakened the company's feedstock cost advantage.
Elevated renewable identification number prices and fluctuations in natural gas costs, particularly Henry Hub prices, might have further increased refining expenses and offset some margin improvements. Additionally, persistently high fuel prices are expected to have weakened global petroleum demand and put pressure on gasoline and distillate margins. Based on our model estimates, depreciation and amortization are expected to increase 13.4% year over year to $108.6 million in the third quarter.
Higher operating expenses of $220-$230 million, general and administrative expenses of $50-$55 million and net interest expense of $75-$85 million, as projected by management for the third quarter, could also limit earnings growth.
What Does Our Model Say About DK Stock?
Our proven model does not conclusively predict an earnings beat for Delek US Holdings this season. The combination of a positive Earnings ESP and a Zacks Rank #1 (Strong Buy), 2 (Buy) or 3 (Hold) increases the odds of an earnings beat. But this is not the case here.
DK’s Earnings ESP: Earnings ESP, which represents the difference between the Most Accurate Estimate and the Zacks Consensus Estimate, for this company is 0.00%. You can uncover the best stocks to buy or sell before they’re reported with our Earnings ESP Filter.
DK’s Zacks Rank: DK currently sports a Zacks Rank #1.
Stocks With the Favorable Combination
Here are a few firms from other sectors that you may want to consider, as these have the right combination of elements to post an earnings beat this reporting cycle.
EquipmentShare.com Inc. (EQPT - Free Report) has an Earnings ESP of +900.00% and a Zacks Rank #3. The firm is scheduled to release earnings on Nov. 9, 2026. You can see the complete list of today’s Zacks #1 Rank stocks here.
EquipmentShare.com provides technology-enabled construction solutions, including equipment rentals, new and used equipment sales, maintenance services and fleet management through its proprietary T3 platform. EQPT is valued at $4.35 billion.
AMC Global Media Inc. (AMCX - Free Report) has an Earnings ESP of +681.82% and a Zacks Rank #3. The firm is scheduled to release earnings on Nov. 9, 2026.
AMC Global Media operates entertainment businesses, including television networks, streaming services, film distribution and television production through AMC Studios. AMCX is valued at $325.46 million.
CNH Industrial (CNH - Free Report) has an Earnings ESP of +50.00% and a Zacks Rank #3. The firm is scheduled to release earnings on Nov. 9, 2026.
CNH Industrial designs, manufactures and sells agricultural and construction equipment, including tractors, harvesters, combines, excavators and other machinery under its Case IH and New Holland brands. CNH is valued at $14.56 billion.