SHARPE
Reported results
- GAAP net income attributable to Delek was $1,133.8 million, or $18.22 per diluted share, for the third quarter of 2026.
- Non-GAAP adjusted net income was $843.0 million, or $13.55 per share, for the third quarter of 2026.
- Non-GAAP adjusted EBITDA was $1,280.4 million for the third quarter of 2026.
- GAAP net revenues were $4,392.1 million for the third quarter of 2026.
- Excluding the impacts of the RVO adjustment and SREs granted in the current quarter, non-GAAP adjusted EPS was $10.53 per share and non-GAAP adjusted EBITDA was $1,038.1 million.
Guidance
- Delek Logistics (DKL) increased annual adjusted EBITDA guidance to $530-560 million.
- Enterprise Optimization Plan (EOP) annual run-rate cash flow improvements guidance increased to at least $250 million.
- Expecting to repurchase up to $100 million in DK common stock in 4Q’26.
- Expects to repay the outstanding $850 million Term Loan during the fourth quarter.
Notes
Small Refinery Exemptions (SREs) granted in the third quarter of 2026 resulted in a reduction within Cost of materials and other of $334.7 million due to a reduction in Consolidated Net RINs Obligation.
Price and volatility reaction
The stock moved +2.3% on the print. No front-expiry chain was on file, so there is no straddle expected move. 30-day ATM implied volatility moved -7.5 vol points across the event (constant-maturity series — not the front-week crush).
| Measure | Value | Basis |
|---|---|---|
| Close before release | 62.2016 | 2026-11-05 |
| Close after release | 63.6548 | 2026-11-06 |
| Realised move | +2.3% | close to close |
| 30d ATM IV change | -7.5 vol pts | constant-maturity series, not the front expiry |
Source
The figures above come from the earnings release the company filed with the SEC on 2026-11-06 (8-K, Item 2.02). Read the original filing on sec.gov.