Delek US Holdings, Inc. (NYSE:DK) Q2 2024 Earnings Conference Call August 6, 2024 12:00 PM ET

Company Participants

Robert Wright - Deputy Chief Financial Officer
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
Joe Leach - Morgan Stanley
Neil Mehta - Goldman Sachs
Matthew Blair - TPH
John Royall - JPMorgan
Roger Read - Wells Fargo
Paul Cheng - Scotiabank
Jason Gabelman - TD Cowen

Operator

Ladies and gentlemen, thank you for standing by. My name is Desiree, and I will be your conference operator today. At this time, I would like to welcome everyone to the Delek Second Quarter Earnings Call. All lines have been placed on mute to prevent any background noise. After the speakers' remarks, there will be a question-and-answer session. [Operator Instructions]

I would now like to turn the conference over to Robert Wright, Deputy CFO. Please go ahead.

Robert Wright

Good morning. And welcome to the Delek US second quarter earnings conference call. Participants joining me on today's call will include Avigal Soreq, President and CEO; Joseph Israel, EVP Operations; Reuven Spiegel, EVP and Chief Financial Officer; and 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. Any forward-looking statements made during today's call 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?

Avigal Soreq

Thank you, Robert. Good morning, and thank you for joining us today. During the second quarter, our adjusted EBITDA was $108 million. Despite a challenging market environment, we are in our operations well. I'm proud of the ongoing progress our team is making.

Turning to our strategic priorities. As I have outlined on our previous calls, Delek key focus area are safe and reliable operations; second, unlocking the sum of the parts value inherent in our system; and third, being shareholder friendly and having a strong balance sheet.

I will now focus on each one of these key priorities in detail. Sales and reliable operation is the core of everything we are trying to achieve. We have made further progress and achieved our highest throughput ever this quarter. Big Spring showed additional strong improvement and it's on track to meet previously communicated throughput and OpEx guidance. Joseph and Robert will provide more details on this.