Delek US Holdings, Inc. (NYSE:DK) Q3 2023 Earnings Conference Call November 7, 2023 11:00 AM ET
Company Participants
Rosy Zuklic - Vice President-Investor Relations
Avigal Soreq - President & Chief Executive Officer
Joseph Israel - Executive Vice President-Operations
Reuven Spiegel - Executive Vice President & Chief Financial Officer
Mark Hobbs - Executive Vice President-Corporate Development
Conference Call Participants
Manav Gupta - UBS
Neil Mehta - Goldman Sachs
Ryan Todd - Piper Sandler
Doug Leggate - Bank of America
Matthew Blair - Tudor, Pickering, Holt
Paul Cheng - Scotiabank
Roger Read - Wells Fargo
John Royall - JPMorgan
Jason Gabelman - Cowen
Operator
Good day, and welcome to the Delek US Third Quarter earnings Conference Call. All participants will be in listen-only mode. [Operator Instructions] After today's presentation, there will be an opportunity to ask questions. [Operator Instructions] Please also note this event is being recorded.
I would now like to turn the conference over to Rosy Zuklic, Vice President of Investor Relations. Please go ahead.
Rosy Zuklic
Good morning and welcome to the Delek US third quarter earnings conference call. Participants on today's call will include Avigal Soreq, President and CEO; Joseph Israel, EVP, Operations; Reuven Spiegel, EVP and Chief Financial Officer; Mark Hobbs, EVP, Corporate Development.
Today's presentation material can be found on the Investor Relations section of the Delek US website. Slide two contains our safe harbor statement, regarding forward-looking statements. We'll be making forward-looking statements during today's call. These statements risk involve risks and uncertainties that may cause actual results to differ materially from today's comments. Factors that could cause actual results to differ are included here as well as in our SEC filings. The company assumes no obligation to update any forward-looking statements.
I will now turn the call over to Avigal for opening remarks.
Avigal Soreq
Thank you, Rosy. Good morning and thank you for us -- for joining us today. We delivered strong third quarter results. All segments performed well. Our team remains focused and drove improvements across our businesses. I thank each member of our Delek team for their contribution.
From a macro perspective, during the quarter, we saw a significant volatility in the markets. Gasoline crack weakened, diesel crack CAC remained strong, driven by inventory levels continued at five-year lows. Given our higher distillate production relative to our peers, we're at a competitive advantage. The refining segment ran well. We achieved a record total throughput during the quarter. Joseph will provide more details on our refinery operations in his remarks.