Company: DK
Filing Date: 2025-08-06
Form Type: 10-Q
Source: 0001694426-25-000112
Chunk: 264

Company: Delek US Holdings, Inc.
Filing Date: 2025-08-06
Form: 10-Q
Item: Part I, Item 8
Chunk 264
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 period; 

•decrease of $14.2 million due to the assignment of the Big Spring Refinery marketing agreement to Delek Holdings in the third quarter of 2024; and

•partially offset by incremental revenue associated with the Gravity and H2O Midstream Acquisitions of $46.8 million and $31.8 million, respectively. 

Revenues included sales to our refining segment of $239.9 million and $295.7 million for the six months ended June 30, 2025 and 2024, respectively, and sales to corporate and other of $0.5 million and $0.8 million for the six months ended June 30, 2025 and 2024, respectively.  We eliminate this intercompany revenue in consolidation.

Cost of Materials and Other

Q2 2025 vs. Q2 2024

Cost of materials and other for the logistics segment decreased by $18.8 million, or 13.6%, in the second quarter of 2025 compared to the second quarter of 2024. The decrease was primarily driven by the following:

•decreased costs of materials and other of $19.3 million in our West Texas marketing operations primarily driven by decreases in average cost per gallon of gasoline and diesel sold and net decrease in volumes sold:

◦the average cost per gallon of gasoline and diesel sold decreased by $0.31 per gallon and $0.36 per gallon, respectively; and

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Management's Discussion and Analysis

◦the volumes of gasoline sold decreased by 2.7 million and the 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