Equity Profile

DK

Delek US Holdings, Inc.

EnergyOil & Gas Refining & Marketing$2.9B

Aug6Thu

Pre-Earnings Brief

UpcomingQ2-2026Pre-Market9:00 AM EDT

Company Snapshot

Delek US Holdings, Inc. is an energy company primarily involved in oil and gas refining and marketing....

Key Metrics to Watch

Earnings Per Share (EPS)

EPS is a key indicator of profitability and will show how well the company is managing its costs and generating income.

N/A

Revenue

Revenue figures will provide insight into the company's sales performance and market demand for its products.

N/A

Wall Street expectations, options signals, track record, and call prep available with Pro.

DK Q2-2026 Earnings Preview

Context

Company Snapshot

Delek US Holdings, Inc. is an energy company primarily involved in oil and gas refining and marketing. With a market cap of $3 billion, it plays a significant role in the energy sector, especially as global demand for refined products fluctuates.

Earnings Scorecard·Last 8Q

EPS Beat Streak

EPS Beat Rate

88%

Avg EPS Surprise

+457.47%

Avg Stock Reaction

+2.12%

Last Quarter Recap

In Q1 2026, Delek reported an EPS of $0.08, significantly beating expectations of a loss. The stock reacted positively, gaining 13.72% the following day.

Management Promises & Guidance

Expectations

Wall Street Expectations

Investors are cautiously optimistic ahead of the earnings report, given the company's recent strong performance and positive surprises in past quarters.

Bull Case

If Delek continues its trend of beating earnings expectations, it could signal strong operational efficiency and market demand, leading to further stock price appreciation.

Bear Case

Conversely, if the company fails to meet expectations or provides weak guidance, it could lead to a significant drop in stock price, especially given the high implied volatility.

Expectations

Two Questions That Matter

The print will turn on these two things.

What will the EPS be for Q2-2026?

Given the company's recent strong performance, the EPS figure will be crucial in assessing whether the positive trend continues.

How does management view market demand for refined products moving forward?

Management's insights on market demand will help investors gauge future revenue potential and overall company health.

Edge

What the Street Is Missing

Why consensus could be wrong

The Street may underestimate Delek's ability to capitalize on recent market trends, especially given its recent strong earnings surprises.

Supporting Evidence

Delek has consistently beaten EPS estimates, suggesting operational resilience.

The options market is pricing a larger move than historical averages, indicating potential for a significant surprise.

The company's recent stock performance suggests investor confidence that may not be reflected in consensus estimates.

Key Risk

If the EPS comes in below $0.00, it could challenge the current optimistic sentiment.

Edge

Thesis-Break Levels

Pre-commit to what would confirm each case.

The core debate this quarter revolves around the company's ability to maintain profitability amidst fluctuating market conditions.

Bull Confirmed If

An EPS of $0.50 or higher would confirm the bull case, indicating strong profitability.

Bear Confirmed If

An EPS below $0.00 would confirm the bear case, suggesting operational challenges.

Pre-Earnings Positioning

Options Market

Implied Move

±23.24%

Historical Avg

±6.1%

Pricing rich

The options market is pricing in a significant potential move, indicating uncertainty or strong expectations around the earnings report.

Options are pricing ±23.2% while DK has averaged ±6.1% over the last 8 prints — setup is pricing rich.

Detail

ATM IV

0.7%

30d HV

69.4%

Calls (16K)P/C Ratio: 0.02Puts (2K)

Preparation

Post-Print Playbook

Likely market behavior by outcome — not investment advice.

Beat & Raise

If Delek beats expectations, history suggests a stock increase of around 2.42%, confirming the company's operational strength.

In-Line / Cautious

If results are in line but management's commentary is cautious, the stock may see muted movement as investors reassess future growth.

Miss

If the company misses expectations, history suggests a potential drop of around 0.07%, reflecting investor disappointment.

Earnings Track Record

Preparation

What to Listen For

Call Prep

1Any updates on refining capacity and operational efficiency improvements.
2Insights into market demand for refined products in the upcoming quarters.
3Management's outlook on pricing trends in the oil and gas market.
4Comments on cost management strategies and their impact on profitability.
5Guidance on expected revenue growth for the next quarter.

See the full picture

AI-powered briefs, options data, and 20 quarters of history — everything you need before earnings.

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Company Snapshot

Delek US Holdings, Inc. is an energy company primarily involved in oil and gas refining and marketing....

Key Metrics to Watch

Earnings Per Share (EPS)

EPS is a key indicator of profitability and will show how well the company is managing its costs and generating income.

N/A

Revenue

Revenue figures will provide insight into the company's sales performance and market demand for its products.

N/A

Wall Street expectations, options signals, track record, and call prep available with Pro.

DK Q2-2026 Earnings Preview

Context

Company Snapshot

Earnings Scorecard·Last 8Q

EPS Beat Streak

EPS Beat Rate

88%

Avg EPS Surprise

+457.47%

Avg Stock Reaction

+2.12%

Last Quarter Recap

In Q1 2026, Delek reported an EPS of $0.08, significantly beating expectations of a loss. The stock reacted positively, gaining 13.72% the following day.

Management Promises & Guidance

Expectations

Wall Street Expectations

Investors are cautiously optimistic ahead of the earnings report, given the company's recent strong performance and positive surprises in past quarters.

Bull Case

If Delek continues its trend of beating earnings expectations, it could signal strong operational efficiency and market demand, leading to further stock price appreciation.

Bear Case

Conversely, if the company fails to meet expectations or provides weak guidance, it could lead to a significant drop in stock price, especially given the high implied volatility.

Expectations

Two Questions That Matter

The print will turn on these two things.

What will the EPS be for Q2-2026?

Given the company's recent strong performance, the EPS figure will be crucial in assessing whether the positive trend continues.

How does management view market demand for refined products moving forward?

Management's insights on market demand will help investors gauge future revenue potential and overall company health.

Edge

What the Street Is Missing

Why consensus could be wrong

The Street may underestimate Delek's ability to capitalize on recent market trends, especially given its recent strong earnings surprises.

Supporting Evidence

Delek has consistently beaten EPS estimates, suggesting operational resilience.

The options market is pricing a larger move than historical averages, indicating potential for a significant surprise.

The company's recent stock performance suggests investor confidence that may not be reflected in consensus estimates.

Key Risk

If the EPS comes in below $0.00, it could challenge the current optimistic sentiment.

Edge

Thesis-Break Levels

Pre-commit to what would confirm each case.

The core debate this quarter revolves around the company's ability to maintain profitability amidst fluctuating market conditions.

Bull Confirmed If

An EPS of $0.50 or higher would confirm the bull case, indicating strong profitability.

Bear Confirmed If

An EPS below $0.00 would confirm the bear case, suggesting operational challenges.

Pre-Earnings Positioning

Options Market

Implied Move

±23.24%

Historical Avg

±6.1%

Pricing rich

The options market is pricing in a significant potential move, indicating uncertainty or strong expectations around the earnings report.

Options are pricing ±23.2% while DK has averaged ±6.1% over the last 8 prints — setup is pricing rich.

Detail

ATM IV

0.7%

30d HV

69.4%

Calls (16K)P/C Ratio: 0.02Puts (2K)

Preparation

Post-Print Playbook

Likely market behavior by outcome — not investment advice.

Beat & Raise

If Delek beats expectations, history suggests a stock increase of around 2.42%, confirming the company's operational strength.

In-Line / Cautious

If results are in line but management's commentary is cautious, the stock may see muted movement as investors reassess future growth.

Miss

If the company misses expectations, history suggests a potential drop of around 0.07%, reflecting investor disappointment.

Earnings Track Record

Preparation

What to Listen For

Call Prep

1Any updates on refining capacity and operational efficiency improvements.
2Insights into market demand for refined products in the upcoming quarters.
3Management's outlook on pricing trends in the oil and gas market.
4Comments on cost management strategies and their impact on profitability.
5Guidance on expected revenue growth for the next quarter.