Delek US Holdings execs said today the refiner and convenience store operator earned $46.2 million in the first quarter, more than double its year-ago number. Per diluted share, profits came in at 79 cents, blowing away analysts' estimates of 60 cents.
Revenues at Brentwood-based Delek finished the first quarter at almost $2.2 billion , double last year's number and boosted by the acquisition last year of the Lion Oil stake it did not yet own. Operating profits climbed to $85 million from $42.3 million, with refining gross profits jumping to $116 million from about $54 million.
"The location of our refineries, in particular the Tyler refinery, allows us to access substantial volumes of WTI-linked crude oil, including discounted crude sourced from the Midland crude hub," said President and CEO Uzi Yemin. "In addition, we sell most of our light products based upon U.S. Gulf Coast prices, which have remained elevated in recent months. Together, the Tyler and El Dorado refineries sold more than 141,000 barrels per day, exceeding our overall crude nameplate capacity, taking advantage of improved refining margins and increased asphalt prices in our markets."
On their conference call, Delek execs said their El Dorado, Ark., refinery has been running well below capacity in recent days  because Exxon last week shut down a pipeline into the facility. That appears to have put a bit of a lid on the company's stock, which was up about 1 percent in late Thursday afternoon trading. Year to date, Delek (Ticker: DK ) has climbed more than 40 percent.
Headed the other way Thursday afternoon were shares of Kirkland's. Execs at the home goods retailer said their Q1 sales rose 3.6 percent to $97.8 million, with same-store sales falling 1.2 percent.
But execs also said profits are set to come in between 8 cents and 10 cents , well below their previous guidance of 11 cents to 14 cents. Full numbers are scheduled to be released May 18.
Around 2:30 p.m., shares of Kirkland's (Ticker: KIRK ) were down almost 3 percent to $13.65. Year to date, they're up slightly.