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Delek US Holdings (DK) earnings and revenue breakdown
Latest: Q3 2026 · 10-Q filed Nov 6, 2026 · Delek US Holdings (DK) Q3 2026 earnings results →
Q3 2026 Revenue up 52% year over year to $4.4B · 26¢ of every $1 of revenue kept as net profit · operating margin 34.6%
Delek US Holdings made $4.4B in Q3 2026 (+52% Y/Y). Operating margin 34.6%, net earnings $1.1B. See where every dollar goes — costs, profit and cash — as a Sankey from the 10-Q filed Nov 6, 2026.
Drawing the Sankey…
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What changed this quarter
Revenue was $4.4B in Q3 2026, up 52% year over year and up 7% from the previous quarter.
Operating profit was $1.5B, a 34.6% margin (up 24.3 points year over year). Of the extra revenue versus Q3 2025, 81% reached operating profit, above the 10% margin then. Total costs grew 11% against revenue growth of 52%. The fastest-growing cost line was Cost of revenue (+13%). Net earnings were $1.1B, up 537% year over year. The effective tax rate was 21.5%.
Operating cash flow was $0.57B (up 1190% year over year), 49% of net earnings. Non-cash charges added back $0.11B of depreciation and amortization and $0.01B of share-based compensation. Working capital and other items used $0.70B. Capital expenditures of $0.11B left free cash flow of $0.46B.
Quarterly history
| Quarter | Form | Filed | Revenue | Y/Y | Op. margin | Net earnings | Op. cash flow |
|---|---|---|---|---|---|---|---|
| Q3 2026 | 10-Q | Nov 6, 2026 | $4.4B | +52% | 34.6% | $1.1B | $567M |
| Q2 2026 | 10-Q | Aug 5, 2026 | $4.1B | +48% | 7.4% | $170M | $263M |
| Q1 2026 | 10-Q | Apr 29, 2026 | $2.7B | +0.4% | -6.8% | −$191M | $461M |
| Q4 2025 | 10-K | Feb 27, 2026 | $2.4B | +2% | 6.8% | $78.3M | $503M |
| Q3 2025 | 10-Q | Nov 7, 2025 | $2.9B | -5% | 10.2% | $178M | $44.0M |
| Q2 2025 | 10-Q | Aug 6, 2025 | $2.8B | -16% | -1.2% | −$90.1M | $51.4M |
| Q1 2025 | 10-Q | May 7, 2025 | $2.6B | -16% | -4.8% | −$158M | −$62.4M |
Charts
Interactive views
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💵Where each $1 goesinteractive
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🌏Named in Asian annual reportsinteractive
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🔄Rotation against the market and its industry (RRG)interactive
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🔍Earnings qualityinteractive
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⚖️Fair value by methodinteractive
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🔭Outlook & guidanceinteractive
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📈Investments: gains and what it boughtinteractive
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🏭Its industry’s money flow (input-output)interactive
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Customers and suppliers named in filings
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About Delek US Holdings
Delek US Holdings, Inc. is a diversified downstream energy company with assets in petroleum refining, logistics, pipelines, and renewable fuels. The refining assets consist primarily of refineries operated in Tyler and Big Spring, Texas, El Dorado, Arkansas and Krotz Springs, Louisiana with a combined nameplate crude throughput capacity of 302,000 barrels per day. The logistics operations include Delek Logistics Partners, LP (NYSE: DKL). Delek Logistics Partners, LP is a growth-oriented master limited partnership focused on owning and operating midstream energy infrastructure assets. Delek US Holdings, Inc. and its subsidiaries owned approximately 58.0% (including the general partner interest) of Delek Logistics Partners, LP at September 30, 2026.
In its own words, from its 8-K, filed Nov 6, 2026.
Delek US Holdings against its Petroleum Refining peers
The largest companies of the same SEC industry, each at its latest quarter. Revenue growth: +52% against the peers' median +46%. Operating margin: 34.6% against the peers' median 18.8%.
| Company | Quarter | Revenue | Y/Y | Op. margin |
|---|---|---|---|---|
| DK Delek US Holdings | Q3 2026 | $4.4B | +52% | 34.6% |
| XOM ExxonMobil Holdings | Q3 2026 | $113.2B | +33% | 18.8% |
| CVX Chevron | Q3 2026 | $67.8B | +36% | 20.1% |
| MPC Marathon Petroleum | Q3 2026 | $56.0B | +61% | 18.7% |
| PSX Phillips 66 | Q3 2026 | $50.5B | +46% | 14.1% |
| VLO Valero Energy | Q3 2026 | $46.1B | +43% | 19.7% |
| COP ConocoPhillips | Q3 2026 | $19.4B | +29% | 30.8% |
| SUNC SunocoCorp LLC | Q3 2026 | $18.0B | +199% | 4.1% |
| PBF PBF Energy | Q3 2026 | $12.1B | +59% | 17.3% |
Source: Delek US Holdings 10-Q on SEC EDGAR · CIK 1694426 · Petroleum Refining
Guidance and outlook
13F: who owns DK and who is buying
More on DK
- How Delek US Holdings makes money: revenue by segment
- Delek US Holdings next earnings date and what analysts expect
- Delek US Holdings stock forecast, price target and fair value
- Who owns Delek US Holdings stock: holders, funds and Congress trades
- Delek US Holdings guidance and outlook
- Is Delek US Holdings a takeover target? LBO and rumors
History
Every quarter: Q3 2026 results · Q2 2026 results · Q1 2026 results · Q4 2025 results · Q3 2025 results · Q2 2025 results · Q1 2025 results