Company: DK
Filing Date: 2025-08-06
Form Type: 10-Q
Source: 0001694426-25-000112
Chunk: 154

Company: Delek US Holdings, Inc.
Filing Date: 2025-08-06
Form: 10-Q
Item: Part I, Item 2
Chunk 154
---
 volumes of diesel sold increased by 0.3 million gallons. 

•incremental costs associated with the H2O Midstream and Gravity Acquisitions of $0.9 million and $2.7 million, respectively.

Our logistics segment purchased product from our refining segment of $84.4 million and $106.7 million for the three months ended June 30, 2025 and June 30, 2024, respectively. We eliminate these intercompany costs in consolidation.

YTD 2025 vs. YTD 2024

Cost of materials and other for the logistics segment decreased by $13.4 million, or 5.1%, in the six months ended June 30, 2025 compared to the six months ended June 30, 2024. This decrease was primarily driven by the following:

•decreased costs of materials and other of $21.7 million in our West Texas marketing operations was primarily driven by decrease in average cost per gallon, partially offset by net increase in volumes sold:

◦the average cost per gallon of gasoline and diesel sold decreased by $0.24 per gallon and $0.33 per gallon, respectively; 

◦the volumes of diesel sold increased by 2.0 million gallons, and the volumes of gasoline sold decreased by 1.6 million; and

•incremental costs associated with the H2O Midstream and Gravity Acquisitions of $1.7 million and $4.7 million, respectively.

65 |

Management's Discussion and Analysis

Operating Expenses

Q2 2025 vs. Q2 2024

Operating expenses increased by $8.6 million, or 29.1%, in the second quarter of 2025 compared to the second quarter of 2024, primarily driven by the following:

•incremental expenses associated with the H2O Midstream and Gravity Acquisitions of $4.8 million and $11.0 million, respectively; and 

This increase was partially offset by the following: 

•a decrease in outside services. 

YTD 2025 vs. YTD 2024

Operating expenses increased by $17.6 million, or 28.6%, in the six months ended June 30, 2025 compared to the six months ended June 30, 2024, primarily driven by the following:

•incremental expenses associated with the H2O Midstream and Gravity Acquisitions of $10.2 million and $17.8 million, respectively.