Delek US Holdings, a diversified energy business, has reported net income of $20.4 million, or $0.38 per diluted share, for the third quarter 2007, compared to $26.3 million, or $0.51 per diluted share, for the third quarter of 2006.
However, net income for the nine months ended September 30, 2007 was $108.5 million, or $2.07 per diluted share, compared to $81.4 million, or $1.75 per share, for the first nine months of 2006.
Uzi Yemin, president and CEO, said: Our retail and marketing segments contributed over 50% of our total contribution margin, which demonstrates the success of our diversified business model. At the same time, we expanded our portfolio through the acquisition of a 34.6% equity investment in Lion Oil.
The refining segment contribution margin was $26.8 million for the third quarter of 2007, compared to $36.5 million for Q3 2006. The segment’s net sales for the quarter were $419.2 million, compared to sales of $424.5 million for Q3 2006.
In the firm’s retail segment, retail fuel gallons sold increased 18.2% to 126.5 million for the third quarter of 2007, from 107 million in the third quarter of 2006. The increase in gallons sold was primarily driven by the Calfee stores acquired in the second quarter of 2007.