DK - Earnings call transcript Q2 2021 | Delek US Holdings, Inc.

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Operator

Good morning, and welcome to the Delek's US Holdings Incorporated Second Quarter 2021 Conference Call. All participants will be in listen-only mode. [Operator Instructions] After today's presentation there will be an opportunity to ask question. [Operator Instructions] Please note, this event is being recorded. I would now like to turn the conference over to Blake Fernandez, Senior Vice President of investor relations. ahead. go Please

Blake Fernandez

results. good for and webcast would to XXXX like discuss Thank us morning. on everyone financial quarter second joining US and today's thank Delek you Holdings' I conference to call

be President, today's Joining me on President on Louis the Reuven team. call found of is of and presentation call Refining; EVP CFO, used EVP as The and other our Relations our and members Investor Uzi Spiegel, LaBella, section CEO; US Yemin, Delek today's can Chairman, during and as materials the well management of website.

reminder, call for Laws. this Please As Safe forward-looking a Securities is X slide conference the statements term as that see Federal Harbor contain under defined statement. may

accepted results. or non-GAAP section results, found these comparable addition website. press report certain which are we Investors non-GAAP Relations accounting the be the principles on the the In financial financial with reporting to reconciliation financial GAAP, GAAP Investor can of to results release, posted encouraged review in to of which is the measures generally in accordance

With capitalization I'll financial On into performance. Reuven. then comments. the I few turn guidance. will XQ are segment market to that And we incorporated made that review cover assuming are has call, the today's over and release Our prepared is will and that, and reviewed, a remarks will strategic closing covering CapEx. been release. cover being less press call Reuven operations earnings Louis information Uzi offer will and the

Reuven Spiegel

$X.XX of the per net or or quarter reported On of to for second XXXX, of period. Delek a per loss prior $XX adjusted loss net compared $XX.X a million basis loss of Blake. in you, share, $XXX.X million, share year an loss of Thank US the

second the a Our prior period. of year in compared in to EBITDA was $X loss $XXX million million quarter, the adjusted

impacts adjusted results. multiple press a quarter. inventory inventory per the other the well residual operation release provides the of Page and items, $XX effects in in pipeline provides XX of impact, million $.XX XX during from these or breakdown release freeze share colonial Separate after and the items quarter shutdown. tax paragraph tailwind, included of impacted as highlights second the of fire first The of page as the quarter, of including factors hedging

of quarters. damage quarter interruption continuing In to operations, will which flow the it the Blake. business turn that, While includes claim be slide a have know totaled operational second we will with property experience had X, these combined approximately the million positive cash roughly incremental $XX provide in we On capital and related caused flow of disruptions costs results. date to $XX expenses incremental on cannot actively quarter EBITDA related our and prepared incur what damage $XXX carriers to property With recoveries, over million. We're our recognized insurance I would both waterfall. with benefit our of been, to significantly second which interruption claims cash million insurance coming $XXX we us to affected The XXXX, business working working that events million. from

Blake Fernandez

highlights X net the $XXX ended a and $X.XX basis on our Slide Reuven. Thanks, of billion million capitalization. second cash quarter debt. with consolidated We of

during June the tax of of Logistics at debt of $XXX received I full we third Excluding million $XXX XXXX. had million. XX, net the of Delek approximately debt refund $XXX note we net approximately quarter, million, would

Slide X, quarter Moving for guidance third to our provide we modeling.

discuss operations the and $XXX in Louis are forecasted to costs of that, to call to over million. operating range $XXX million will turn quarter With CapEx. I be Third the to

Louis LaBella

Blake. Thanks,

Krotz XXX,XXX and Krotz to midpoint. average do day, approximately lingering throughput barrels expected freeze by turnaround we XXX,XXX Pipeline the Springs, quarter and impacted crude total Springs, to XXXX, system activities outage. Tyle In crude and our per per was Tyler, between day. El the oil refining utilization Dorado of oil Big throughput in at quarter, the was approximately second Dorado This El XXX,XXX the impacts barrels Springs at During Colonial third or XX%

all net We and the be our The Dorado. back at normal On were currently refineries the for is capital $XXX $XX including planned X, to fire the to turnarounds no El Slide insurance million reflecting are to second during $XXX major capital operations have remainder four quarter at of proceeds. downtime expected of and turnaround year. and plan activities repairs of XXXX estimated million, related expenditures

call to over Next, Uzi. I the turn will

Uzi Yemin

factors claims and Multiple morning half and everybody. refunds. first of the and the Louis year Thanks, tax impacted operations in insurance good between

cash expect pursuing the small over refinery we're same the meaningful actively quarters. At time, We exemptions. benefits coming

of Our a and granted long go SREs, impacting history of a this company has in way positively our the long being would economics facilities.

growth operations, a the new planning resume to Moving are to we industry with the in pleased phase. retail stores in segment two

our the will market which throughout complement have to resilient been pandemic. branded portfolio, stores existing New

logistics depressed to increases. the in first with business its balance the XX operator, open that, With DKL and will stable the we year. the call Finally, expect long questions. from performance quarter, of continues of history consecutive recovered for you for growth levels please the remain distribution

Operator

roster. At our will to momentarily session. will time, We assemble the we this begin Instructions] now question-and-answer [Operator pause

Credit Our Suisse. Please comes Manav with from go first question Gupta ahead.

Manav Gupta

If quantify SREs. prices, what's get are and a refineries of strong history, is I did getting could so what’s El you us to how ruling help on if definitely the eligible, where too at as should current and SREs, I'm you for SRE, your you, just have given you? out if confident of case are question three Uzi, rent them get had we the your Supreme end to do Court Dorado think how you the I there refineries; the a that trying many up supporting Krotz two the benefit look a Hey, understand you legal opinion, it, as

Uzi Yemin

and thing. quantifying color answer the here. I'm confidence the have let give low just we Good level that think Todd going what morning, you some we to Manav. I around

the Krotz times, times was five over including got of of seven got refineries, times Dorado Tyle years six got years, and past the one we times era Trump that So the times Obama. course four of for and it or seven last applied out and each El

entitled grant; we we that actively we So, to pursuing are discussions this are here. the around situation think and administration have with

to going because turn probably on timeline they The by they you ask November end Now, unless in clear a the race law. little yourself do what this it's time what is, the is I'm of so color the give to to need XXXX change that the you really year.

next they XXXX. next i.e. don't I months happen. is of in a ruling, unless to the make that which time five they year, turn March the turn the change So And from the end now. couple need of January to XXXX to by over expect to months race the time decision is XXXX of The

months, it EPA, over turn rent, to in maneuvering, to right to seven there time there's six and companies but being turn years XXXX. next for no you is and have technical and three not So now. XXXX, some XXXX, us which of into terms need the what that turn get when is the to said, With to

that. in today's prices. remember, dollars we're Now, cover hundreds the talking hundreds go talking about will of millions we're about Todd, ahead. here, general, in amount; about so of you But three Todd years ask of

Todd O'Malley

Manav. Sure, Yes.

out, can at plants and if from number you get know, up look and If the that's mentioned your note of $XXX question, of point with use you we thing. come and fact filings that the look and XXXX, that other we XXXX, million I some item you three onroad in you same production thing go the year you per our XXXX for it $X.XX list The would fuels, the errand, you somewhere waivers. with of three let's a do been public number with for that's only granted call under a and and only line ever that believe same I you around

granted In three plants. we've been been three the where for of fact, all there waivers have actually years

point as So, I to just wanted out that well.

Manav Gupta

a big. that's now meaningful pretty amount fair. Seems Okay, like

if the level what's during one and which with like million additional could insurance on lot timeline quarter, an claims, on be and fire this confidence, a some Again, that Just of going pursuing could us $XX question you're the claims. these you times your second looks to million? insurance of some is that give $XX

Uzi Yemin

that some we the it discussion should first the more is than companies, obviously we're you to it I'm in tell to we in million million, already with of to more the Well, think that because getting there $XX that we $XX but think third our quater. the process didn't speak the $XX actually as million, that, quantified in going we insurance that them assume damage some first quarter. million well in don't mind, first quarter, be than it's $XX was We for

themselves in got money, are the in processes And we but claims the approved some by or third in money they to getting process being couple means that happen the of this that we we're the over the claims. approved The these expect next the of of quarters, fact So, carriers. quarter. are already

probably did you that don't second enough high happened the we to million million you a as come and is I see feel But start, to So, to normality we $XX the that calculate $XX we million; quarter want these and what already million million to $XX in getting process is claims. think quarter around is only third number to within it confident million that actually that $XX can well. will $XX and $XX

Manav Gupta

new in, to the double I Very looks Uzi, have said grow want it you still quick you think is, question earnings. thank have potentially coming could business; these like stores last in the your retail you. past, you you're

always I won't open business here. sell am right said, manner it but your I there in time do a for and you've was is to attempt an hasty So, retail I you when to it, the know

just anything front. wondering I'm know changed if to So, on has that

Uzi Yemin

the with SREs. the Manav, see million, $XXX cash ended flow. quarter We you

administration unless our of point, retail position. and need an are of But at We sell model. sense I how around this it low comfortable because cash at makes just it know fits insurance we chance the in fit will the processes discussion if shareholders, exemptions. a to no offer it And selling the point, see that the it. getting There's for do in. Obviously, are The with coming business business with comes some very of we I are active the this having model.

Manav Gupta

so Thank much, Uzi. Okay. you

Operator

Fargo. The Roger Read next ahead. from go with question is Wells Please

Roger Read

the morning. maybe on follow a I like pieces moving guess team. here there's to back Good and thanks. Yes, up SRE thing Uzi because I'd of lot

don't for RVO XXXX. we an have off, First

there's typically aspect demand Secondly, when right, SREs have seen been a of to granted, the rent price supply a we've fall it.

almost way it mismanaged the kind back, know from go. but pretty think right due, given say plan gave the So and be whole I from I when about What get timeline six for this think the Uzi look, over the has as the you sort of really you you would nine program us are rents you know the step of you've the months. to next, to out but game high, would been how

Uzi Yemin

doesn't manage we in company a to at have here. we Roger, order It point. this mean that all

didn't on turn maneuver a the can we but with some it's books; We absolutely actually RINs, RIN physical we liability have the you So have just that. that I to P&L, Manav, the with yet. mentioned do earlier we can the as maneuver rules in

will the that strategy waivers not be not RIN we on how to rates program, all will absolutely manage you the prices to down. just did just side, we of if that around disclose I'm correct a yet. turn I'm granted, going one remind going you're these but So come here

price liability current the on So books now. is the right at the sitting

price it So the be as current right now. P&L will at sits the impacted

we flow, to how cash to it. Now, today, not flow, around we will will how are it move we're we cash going see to, see disclose going

XX, will RINs they waivers. that's Now, about to really. get think Are I think do going don't back administration grant that don't at not will the them. $X.XX, I will I that majors XX the think say

us them very like chance chance good of of getting think guidelines have small them. good getting I only a actually

to back absolutely. think go go to buck cents. XX, that prices Do I RINs of down expect XX don't I So, they'll

RVO, the mentioned you unrelated that time to to turn XXXX, Now, XXXX. you RVO is the need

pushed And they clear to You're talking again, turn little technical deadline do is the but time XXXX, regardless and the XXXX XXXX about hope the was and RVO. Unless you to the was it of it they coming pandemic, only if I I here, remember during November January. enough. the

Roger Read

clarity. trying all drop I implications. appreciate I'm the now. the one Um, that let's just understand for to

situation in think to look And of we about one Delek about tough that lot refiners the as to advantages. operationally, seeing in startup crude changing the at If crude obviously, the you streams, just there of your take and the to and advantage you're industry to Webster, pipelines in a you know how it's is debts, of localized with crude last any a six you're quarters. of able four debt is of terms anything Wink some do been you've curious involved all such debt

Todd O'Malley

it's Todd. Roger, Yes,

You over Midland a of couple in previously last of a XX was kind situation, actually deterioration trading know, the bit differential we've crude of months, at cent premium to TI relative seen the and also range move to seen $X.XX XX the to relative large that's relatively to from trading down is has in around up come now the range. LL off negative a [ph] TI. a $X

optimizing opportunities crude shift think various our at partnership are those think, blending continue other our grades the mid-time the at footprint do in in around ideally might positioned, things at given become looking looking looking available I Cushing. as that I same So with we're to constantly We're that. slate. balances and at time, to We're DKL and positive we're our always

Uzi Yemin

would the certainly nominations of fourth the ramp Permian, I next should business toward just into know in add, through year. beginning quickly we our the Roger, gathering quarter, up

it to that accelerate provide by help to little is, extent think that prevailing bit. So bit where to double back start little commodity means, a that of the we're don't and production chance may think digits a any maybe is a there's a prices could I tailwind. but going bit I a

Roger Read

appreciate the guys. Thanks, clarification. I

Operator

Todd from Please is Simmons go Ryan Energy. M. with question next ahead. The

Ryan Todd

Thanks. just the get spreads. including your Maybe been and XX the in recent amount activity months, There's without on over on your significant environment the wanted market of of views on M&A. pretty peers within one some last is refining a what on to space the

scale the an is You're whether amongst defining to competitive group. become increasingly scale and interest in adding trade likely

Uzi Yemin

small Sinclair Good made what obviously, deal I numbers, don't [ph]; Well, that to about need morning, much small I also think for to to with Ryan. bigger. companies do come thought what that to of we makes is that sense these refiners according it HFC I the the Delek know how of of that that together. to but it just part get continue group got sense, think strategically

I the we're patient, obviously granted, the entitled that of needs SREs we think especially really we be right are expect very to that we in light the of to of be this, because it opportunity that them. several fact and some think to

long-term, I from is So other today, four the both will in is situation that, if think that's to at is for like compared dramatically eminent, too included, the right case, it opportunities. right all think then that think small want that now, the fact small don't maybe will the just should good important operate. continue that talking to they years anything position different highly be scale imminent move. to what refineries that. or of itself but strategic very to And in looking a because There's of to I Delek El I'll Dorado we're these help these I small mid companies, that, just be that thought now, and -- and Krotz don't were small XX leave the to to it be nothing continued refineries you

do will companies other think same the thing. I

Ryan Todd

now. maybe for target a little the of obviously, high a range half we've And the you about see rates recovery of then think utilization But a how of is your of in kind that Can for refining now pretty highest from throughput than right level walking there still versus fine XXXX the industry little I maybe talk seen third as Thanks. the you the a thinking on here. since a different the year guys. throughput helpful. second you, question you're That's environment line margins right that bit operating quarter, it's we obviously maintenance on

Louis LaBella

into to utilization XX% the this Hey, after normal Ryan. all at to QX, we're looking to fire the like the back event. happy around is XX% say turn I'm that going freeze, Yes, Louis. we're Yes,

and to stabilizing it's optimize, able refiners and the you run stable. showing to and and be do So to got can run optimize, what really truly

our outlook into that's QX. going So

Ryan Todd

I those markets of is the And is supportive types environment guess margin of your regional rates. in

Louis LaBella

basis add I'm run open Because door Yes, that we to basis. it and the wide we if need what repeat open. to get on Ryan, SREs just risk about sort that think the a SREs of said. on a you we refineries daily you to need wait need think get is $X.XX I cross, we weekly and to and run going to how for to assuming don't or SREs

are these program. obviously, things that as our consider to of Now, need part we

Ryan Todd

guys. Thanks,

Operator

is ahead. The Chen Theresa question go from please with next Barclays,

Theresa Chen

Uzi, Thank bow around can it. for you Morning. maybe situation put just if taking just revisit my this we and a questions. SRE

I Dorado bound million using Just the million you mean that think $XXX it all you the XXXX in have boiling that deadline RINs about $XX down hand price, not upward RINs your roughly those have into XXX when up. El of since the Krotz, XXXX. and per per been between on come Tyler does RIN sell had year and the to turn between had market

Uzi Yemin

several asked questions. you Theresa,

it. First, the how then numbers Todd, numbers, to an I'll you let's explanation have give stick numbers, to and the in front the you because just we stick of go about about

Todd O'Malley

Yes, are calculation that RIN doing. so roughly absolutely, we're Theresa, in you $XXX that correct for million number

Uzi Yemin

million year, $XXX between to clear, per the per XXX three want XXX of for not three it's RINs year them. million, its We be million RINs refineries.

Theresa Chen

Got it.

Uzi Yemin

make it some different. history But and we at the to is them according it. RINs, that go is different in you coming. not to is years situation Court the and deadline the the of we we But own some to as what not today turning did and it decision. two is can being near a recently in XXXX a in looking we the now now the sitting we said, obviously with discussions we XXXX ago, assuming turned not somebody P&L XXXX, didn't they the said, the holding Saudis, uncertainty the with future the liability as many terms will case in manage said buck that's is know exposed the application. and books, P&L or about had had It need see around be is program, to the whole that to of XX over comes turned any the we as something And ask assuming for as need how that it SREs XX are years That's of manage we cash about turning January XXXX well. now there that the Obviously, applications the EBITDA. it turn balance I we already how you reflects and And P&L deadline things. the the because is wind, I them, from today. XXXX With because and not administration, for the want between we the March on But Supreme the three with you is and XXXX November,

waivers turn here. too that versus between technical it because to the the how me, that's for is I'll how to leave to coming, us of I new RINs, to don't do the and when themselves, balance want manage reward. risk what trusting [ph] investors keep, get decision these are that to to many type RINs to applications, So and

Theresa Chen

And capability, just think you El that you the know, about rationale is thinking this lack it about puts administration. Can it. to why the of that, you the SREs pretty drivers you the as receive lending and talk democratic any last is were for of to and during even able sure. know, for why Got Krotz takes Dorado

Uzi Yemin

if go applications Well, same And you the categories, most will. actually, by again, several different just criteria, the times, ones. myself I'll almost read I'll important

in on small First, the impact is big. refiners pretty all are these them that communities,

the refinery. is part the El pipeline know most Dorado for will a pipeline quarter And refinery. Second is

no So them any part there both most to for opportunity gasoline. are blend suffering, of the are

others areas you in according can The know of then acceptance rules it the DOE. past the and that ethanol we EPA is third want say and these they to website of all the part the the if and they you go were already scored by them score is in that probably that criteria’s some we and some got but to

situation used we I and past. because years pandemic, two So, of got of be think worse, it the pandemic. to the ago, because especially in light XXXX Then and of in than rather the the XXXX even the XXXX situation what

Theresa Chen

you. Thank

Operator

is end. question yours. Phil with next Mr. on line had open your it muted JP on Perhaps Please, you Gresh, is The Morgan. Gresh go our from ahead.

Phil Gresh

user Can Sorry, anything? me error. you or hear

Reuven Spiegel

Phil, Hey, good morning.

Phil Gresh

your you how markers you diesel, of I'll opportunity? I just matter in six not this? do just I'm curious about Renewable this terms what opportunity? try again. we'll project, per know think think to that se. How mile about Or Is see? the XX it's investment for you months would and wait

Blake Fernandez

timeline, I'll it's the once global be it's energy a free it's that in Phil, on reality with. to operational. Blake. it. type And time clean XXXX going XX-day supposed this is early of dealing we're frame look take facility's the Really,

to when it. and so we once in we're and a wait that and get we would decision, And see tell a opportunity this kind of do make holding point to the at there pattern, have them going

really on. timeline that's kind the changed has we're that lot, nothing on So, but of a front the

Phil Gresh

Okay, got it.

Second question.

value of The the DKL. appears point. your is DK around this of value ownership to exceed in where Just at DKL trading

between a the you've SREs, coming door. So, lot tax of refund, in interruption cash opportunities about lot various talked a proceeds, business things

If the too you back door, Are tax buying many or think Do of in value do area you a ramifications? unlock it's in get consideration? some an DSL of there no? that is cash

Uzi Yemin

mentioned Reuven actually third the already the refund. during we and We it -- touched touched the got you with tax that situation Phil, first, so Well, quarter.

we books the as in it's So, speak.

DKL change to plane much the continue cash according or Because process tremendous our an is that of want amount DKL. goes to goes actually doesn't that we if there's plan, if a grow. about said, you thought we think to engine it as coming That our So, way.

the business business also in XX%, not of X% are paying the owning but not we're of in return. we Now,

we the situation that strategically say then are So, at we at continue what it to carefully this If where do with probably look continues, to need we point, to the very pay future comfortable want we it. in bring Regardless, sell do we to or the down to the it need either quarters according It's with XX% next to some is to And number. right two in the we'll it. X%, units. will just over see in are. to changes market the and three we what not to

Phil Gresh

And potential, potentially the further the the terms you'd it. more you're be grow Got of to environment, growth sense? valuation right I drop the in guess if inclined do made and downs

Uzi Yemin

That is correct.

Phil Gresh

Okay, Uzi. Thanks, all right.

Uzi Yemin

you. Thank

Operator

from ahead. The Sankey go Paul with Sankey question next Resources. Please, is

Paul Sankey

Hello, here term near low grade Resources. I'm the Uzi. make Sankey as Paul some question. Uzi, a sense Sankey trying to with of

good, the running got So, situation Obviously, QX, everything with the issues and rest. where are seems now far and things in going as what to the refund up But tax is we if case look very QX the how margins we've specific at looking Thanks. well going? as are great? which there was be weather margins

Uzi Yemin

Paul, as Louis mentioned your luck new again, -- you from So, and to endeavor. great with hear good

Paul Sankey

sir. you, Thank

Uzi Yemin

wide Louis running as XXX,XXX pretty XXX,XXX open we're to to mentioned, barrels. much Second,

get So, the more barrels. sense sense to make part, It most run around It we for XX%, SREs. when But XX%, makes we're XX% running as answers even utilization. will normal. some these

Paul Sankey

back could here, Krotz be And incremental holding might was you remember would you're more is avoid jet the is lack demands running just a too, how that we But I you but continue, I thing much go the out if story? this type cost? underlying way essentially, of whole on with the fuel to are date So, see, if through the exposed or that we of less just weakness still you refinery. in or rinse to jet improving

Todd O'Malley

optimizing in Yes, that a the in with Todd. really great the We've job folks the product in it's conjunction has with jet the Louis make around done plant downturn fuel. Paul,

really we've we minimized what So, have.

instantaneously in fact, seeing jet back knob we the turn are much market. to a localized back business have pretty in get in can and that that demand We we come

Gulf actively you not just continue you're are to we're system and to watching outright I'm makes that, sense. that and optimize might believe the continue we'll so, returns, assuming jet what referring as contracts Our economic -- increase as to as to If is exposed the if demand it Coast. we'll

Paul Sankey

Understood. Phil. government the part of if to strategic And I But one you've and big then striking the this debt a it's Greek negative And very answer and do think yields you with that could addressed mentioned example is debt kind thought high we et pretty rates very falling, equity. confusing cheap. for et be cetera. rising, of would has cost the they of cetera, you've is world when And with DKL

view, You're the where a and actually against a -- kind of advantage few can perhaps heading. see that of take shifts consensus quite take guy the rapid that we are make on things

way you. that world So, to I just crazy Thank Delek? and wanted this affects best for an you update forward on see the how you how

Uzi Yemin

compliment. for sure thanks world think to sure would I'm the enough Well, behave. I'm I'm not -- first, smart the not how

is find it. pandemic of the see reasons However, going then is little back case, a this rates and the I to up that kind with normalcy. go to some up do go think we'll and will tired inflation world then If the people of why will

interest that in think risk we an If, a I rates. until took note rising advantage and is the money moved and printing course, around. that with up will money continues of the that eventually, being just is or of of that and when crazy, like think of is the locking of there amount inflation return catch chasing of usual just that DKL risk I XXXX amount we're do everywhere

one person's Just opinion.

Paul Sankey

you're debt debt higher you guess, wanted I can you've be as idea while -- mean, run but rates taken more trying But… of little advantage just remains advantage I this less in to possible, essentially take strategically, environment I of maybe to them. Basically, -- run example, you've it would everything do or historically, the to for an as

Uzi Yemin

before now refund Delek. cash I which one And and to tax can situation big we work of amount $XXX think that -- market if SREs the case, of that's our the think project potential the a The the with quarters underestimates is have then cash I this here. Paul, for and SRE coming the Delek the is million the -- and that change next our or in. rapidly bring like insurance, a may over cash portion what SREs situation, company this the course, strategy of -- two

Paul Sankey

will think of a you any you there nightmare, And that like do resolution it's know timeframe say? imply would there that to impossible, or be you what reasonable I it's mean, on within will it? a think nonsense kind I a just be this but resolution

Uzi Yemin

companies to grant I the the of I the much specifically the the think think is in Court said within that SREs, line don't will this that House. the Supreme -- that situation just guess. highest about I my fact know are think this the But that top are because is much policy waivers; White over administration some SRE level get I think SREs. there purely entitled the getting in I And these we very at

Paul Sankey

Great. hear you. Thank Great to you, Uzi.

Uzi Yemin

Paul. Thanks,

Operator

Blair Holt. question next from Matthew ahead. with Please Tudor, go Pickering, is The

Matthew Blair

your talk about and $XX [Technical million to the Difficulty]. you million Hey, the fire financial the in that good exactly morning, from $XX where that everyone. flowed freeze; through The could operational statement? disruptions

Operator

over our to concludes turn and I remarks. for Yemin answer any to would This back conference the like session. closing question Uzi

Uzi Yemin

XXXX year. of mainly thank Thank vote for employees part making investors don't bear. least second at tough, to great thank Have company like a my XXXX thank confidence for or here. like in a what our tough was their to like around looks table interest us. thank colleagues I'd lightly. the I'd to our company. tough, XXXX, I'd of to their like like little the to tough, day. Well, And bear, Board of the is. I'd everybody you. their Directors this thank But it it take in for I'd confidence. a for We

Operator

The conference concluded. today's attending you is now presentation. for Thank

now may You disconnect.

Delek US (DK) 4 Aug 212021 Q2 Earnings call transcript