Delek US Holdings reported record third-quarter net income of $1.13 billion, or $18.22 per share, as the refiner's results were lifted by large gains from renewable fuel exemptions, the company said on Friday.

The headline figure compares with net income of $178 million, or $2.93 per share, a year earlier. On an adjusted basis, net income was $843 million, or $13.55 per share, comfortably ahead of the $8.05 analysts had expected. Revenue rose 52.1% to $4.39 billion, above the $3.88 billion consensus.

The company was careful to separate the one-off boost from its underlying trading. Stripping out the renewable volume obligation adjustment and small refinery exemptions, adjusted earnings per share were $10.53 and adjusted earnings before interest, tax, depreciation and amortisation were about $1.04 billion, against the reported $1.28 billion.

Delek also rewarded shareholders. The board raised the regular quarterly dividend by about 18% to $0.30 a share, payable on 18 November to shareholders on record on 10 November. The company bought back $50 million of its own shares during the quarter and expects roughly $100 million more in repurchases in the final three months of the year.

Management said it expects to repay its outstanding $850 million term loan during the fourth quarter. Delek ended September with $1.34 billion of cash and net debt of $2.05 billion. Its logistics arm raised its 2026 earnings guidance to between $530 million and $560 million.

Shares in Delek rose on Friday, trading up $1.17 at $63.66, as investors welcomed a quarter in which refining margins and regulatory gains combined to produce the strongest result in the company's history.

[Source: morningstar.com](https://www.morningstar.com/news/business-wire/20261106030202/delek-us-holdings-reports-third-quarter-2026-results) | [Source: marketbeat.com](https://www.marketbeat.com/instant-alerts/earnings-delek-us-nyse-dk-releases-quarterly-earnings-results-beats-estimates-by-550-eps-2026-11-06/)