Delek US Holdings, Inc. (NYSE:DK) Q4 2023 Earnings Conference Call February 27, 2024 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

Neil Mehta - Goldman Sachs

John Royall - JPMorgan

Roger Read - Wells Fargo

Matthew Blair - TPH

Jason Gabelman - TD Cowen

Operator

Good morning ladies and gentlemen and welcome to the Delek US Fourth Quarter Earnings Conference Call. At this time, all lines are in listen-only mode. Following the presentation, we will conduct a question-and-answer session. [Operator Instructions] This call is being recorded on Tuesday, February 27th, 2024.

I would now like to turn the conference over to Rosy Zuklic, VP Investor Relations. Please go ahead.

Rosy Zuklic

Good morning and welcome to the Delek US fourth 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 2 contains our Safe Harbor statement regarding forward-looking statements. We'll be making forward-looking statements during today's call. These statements 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 joining us today. During the fourth quarter, our operation ran well at the higher end of our guidance. We did a good job of focusing on what we could control. With that, I would like to thank each member of the Delek team.

From a market perspective, during the quarter, we saw a weakness in product demand, consistent with the seasonal trends. In refining, we achieved record total throughput in the quarter, but still see opportunities for further operational improvement. Joseph will provide the details of our refinery operation and progress at Big Spring.

We delivered another record quarter in our logistics segment. The consistent strong performance from our logistics segment validates our favorable position in the Permian Basin. Our [indiscernible] segment reported its best Q4 outside of COVID year 2020.