Delek U.S. Holdings Reports Better-Than-Expected Earnings, Shares Rise 15.1%
Delek U.S. Holdings (NYSE: DK) shares surged 15.1% following better-than-expected earnings and strong performance in the oil and gas sector amid rising oil prices. The company reported an adjusted loss per share of ($0.98) for Q1, but revenue increased slightly to $2.65 billion. Delek's refining margins, particularly in jet fuel, and a cost-cutting program contributed to the positive market reaction.
Topics: Cost-Cutting Earnings Jet Fuel Margins Refining Industry Stock Price Movement