Delek US Holdings, Inc. (NYSE:DK) Q1 2022 Earnings Conference Call May 3, 2022 12:00 PM ET
Company Participants
Blake Fernandez - Senior Vice President of Investor Relations
Uzi Yemin - Chairman, President & Chief Executive Officer
Reuven Spiegel - Executive Vice President & Chief Financial Officer
Todd O'Malley - Executive Vice President & Chief Operating Officer
Nithianathan Thaver - Executive Vice President & President-Refining
Conference Call Participants
Carly Davenport - Goldman Sachs
Roger Read - Wells Fargo Securities
Manav Gupta - Credit Suisse
Douglas Leggate - Bank of America
Paul Sankey - Sankey Resources
Paul Cheng - Scotiabank
John Royall - JPMorgan
Jason Gabelman - Cowen
Operator
Good day, and welcome to the Delek US Holdings 2022 First Quarter Earnings Call. All participants will be in listen-only mode. [Operator Instructions] Please note this event is being recorded.
I would now like to turn the conference over to Blake Fernandez, SVP of Investor Relations. Please go ahead.
Blake Fernandez
Good morning. I would like to thank everyone for joining us on today's conference call and webcast to discuss Delek US Holdings' First Quarter '22 Financial Results. Joining me on today's call is Uzi Yemin, our Chairman, President and CEO; Reuven Spiegel, EVP and CFO; Todd O'Malley, EVP and Chief Operating Officer; as well as other members of our management team.
The presentation materials used during today's call can be found on the Investor Relations section of the Delek US website. As a reminder, this conference call may contain forward-looking statements as that term is defined under Federal Securities laws. Please see Slide 2 for the Safe Harbor statement.
In addition to reporting financial results in accordance with Generally Accepted Accounting Principles, or GAAP, we report certain non-GAAP financial results. Investors are encouraged to review the reconciliation of these non-GAAP financial measures to the comparable GAAP results, which can be found in the press release posted on the Investor Relations section of the website.
Our prepared remarks are being made assuming that the earnings release has been reviewed, and we are covering less segment and market information that is incorporated into the press release. On today's call, Reuven will review financial performance. I will cover capitalization and guidance. Todd will cover operations and CapEx. And Uzi will offer a few closing strategic comments.
With that, I will turn the call over to Reuven.
Reuven Spiegel
Thank you, Blake. On an adjusted basis, for the first quarter of 2022, Delek US had a net income of $42.9 million or $0.58 per share compared to a net loss of $80 million or $1.08 per share in the prior-year period. Our adjusted EBITDA was $172.8 million in the first quarter compared to $12.6 million in the prior-year period.