Delek US Holdings Reports Fourth Quarter 2020 Results Underlying cost improvements and capital reductions across the portfolio position the company well for 2021 COVID-19 vaccination uptake provides an increasing demand backdrop going forward Robust outlook for the retail segment with line of sight for strong growth potential Capital light approach to renewable diesel with $13 million option to acquire a one-third economic interest in GCE Holdings Acquisitions Expecting another 5% distribution growth year-over-year at Delek Logistics in 2021
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BRENTWOOD, Tenn., Feb. 23, 2021 /PRNewswire/ Delek US Holdings, Inc. (NYSE: DK) ( Delek US ) today announced financial results for its fourth quarter ended December 31, 2020. Delek US reported a fourth quarter 2020 net loss of $(293.2) million, or $(3.98) per share, versus net income of $32.7 million, or $0.44 per diluted share, for the quarter ended December 31, 2019.
Exec retired from HollyFrontier role in ’19
Denise McWatters
Delek US Holdings has hired as general counsel an executive with more than a decade of experience at one of the company’s peers.
Denise McWatters has joined Brentwood-based Delek about 18 months after she retired from HollyFrontier as GC, senior vice president, chief compliance officer and secretary. She had spent nearly a dozen years with the company after being the legal chief at construction conglomerate The Beck Group.
At Delek, McWatters fills the seat vacated last year by Regina Bynote Jones, who had joined the oil refiner and marketer
in the spring of 2018 and is now chief legal officer at oil field services company Baker Hughes.
Local company’s shares climb 10%
Shares of Delek US Holdings rose about 10 percent Wednesday after noted investor Carl Icahn named the three men he would like to see take board seats and help force through big changes at the Brentwood-based company.
Icahn-controlled CVR Energy an oil-refining peer to Delek with a slightly larger market value last year said it wanted to buy Delek. But
a few weeks ago the company said it had shifted gears and now wants a board presence to push for a strategic overhaul. CVR controls 14.8 percent of Delek’s shares, the vast majority of which it acquired for an average price of a little more than $13. On Wednesday afternoon, Delek stock (Ticker:
ONE Gas Inc. - 40
“From the previously unimaginable impact of the Covid-19 pandemic, to a long overdue reckoning with racial injustice, 2020 was an unprecedented year,” HRC President Alphonso David said in an organization statement.
“Yet, many businesses across the nation stepped up and continued to prioritize and champion LGBTQ equality … This year has shown us that tools like the CEI are crucial in the work to increase equity and inclusion in the workplace, but also that companies must breathe life into these policies and practices in real and tangible ways,” he added.
“Thank you to the companies that understand protecting their LGBTQ employees and consumers from discrimination is not just the right thing to do but the best business decision,” David went on to say.
In a statement, Delek Chairman, President and CEO Uzi Yemin said the addition of Laurie Tolson which grows the board to eight members helps the Brentwood-based oil refiner and marketer progress toward its 2022 goals of having 30 percent of its directors be women or racially diverse. Tolson, 60, last year founded a digital transformation strategies consulting firm after leaving GE Transportation, where she had been chief digital officer for two and a half years. Before that, she worked nearly five years at global manufacturing conglomerate ABB, most recently as head of its enterprise software group.
“Laurie s background in technology adds yet another aspect of diversity and perspective to our board and complements the company s drive to utilize technology to enhance operations,” Yemin said. “We strongly believe technology advancements will lead to progressively improving efficiency, reliability and safety of our workforce, and Laurie s background will assist us in our journ