Delek Profit Falls On Lower Revenues

(RTTNews) - Delek US Holdings Inc (DK), a downstream energy company, on Tuesday reported second-quarter net income of $48.3 million or $0.79 per share, a decline from $54.9 million or $0.92 per share last year.

Results for the latest quarter included a $15.3 million net hedging loss, of which $13.4 million was unrealized.

Revenues for the quarter were lower at $1.69 billion compared with $2.37 billion in the prior year.

Analysts polled by Thomson Reuters estimated earnings of $1.05 per share on revenues of $1.57 billion for the quarter. Analysts' estimates typically exclude special items.

Delek has declared a regular quarterly cash dividend of $0.15 per share.

Delek US operates in the businesses of petroleum refining, wholesale distribution and convenience store retailing.