Delek US Holdings, Inc.

Hey, everyone. Welcome to the fourth quarter 2022 Dellick U.S. Earnings Conference Call. My name is Jamie, and I will be your operator for today's call. Please also note today's conference is being recorded. At this time, I'd like to turn the conference call over to Rosie Zuklik, Vice President, Investor Relations. Rosie, you may begin.

Good afternoon and welcome to the DELIC-US Fourth Quarter Earnings Conference Call. Participants on today's call will include Abigail Sorek, President and CEO, Todd O'Malley, EVP and Chief Operating Officer, Ruben Spiegel, EVP and Chief Financial Officer, Mark Hobbs, EVP, Corporate Development, as well as other management members. Today's presentation material can be found on the Investor Relations section of the DELIC-US website. Slide 2 contains our Safe Harbor Statement. We'll be making forward-looking statements during today's call and actual results may differ materially from today's comments. Factors that could cause actual results to differ are included here as well as in our SEC filing. With that, I'll turn the call over to Abigail.

Thank you, Rosy. Good afternoon, everyone, and thank you for joining us today. 2022 was the best year ever for Dell AQS. Market conditions were strong for refining and midstream, and we were able to capture opportunities along the year. Fully adjusted EBITDA was $1.2 billion. During the fourth quarter, total results were strong. Adjusted EBITDA was $221 million, despite unplanned downtime, mainly at the big spring refinery. So, we give more color around operation and the action we are taking to ensure safe and reliable operation. As I said in the past, shareholder returns is a key priority for us. During the year, we returned $236 million to shareholders, with $172 million in the second half of 2022. close to 10% of decay market cap. We reinstate the regular dividend this year, and we are pleased to announce an additional 5% increase in the quarterly dividend to 22 cents per share. Looking forward, we are very excited about our future. On the corporate structure, we are actively evaluating strategic alternatives for logistics and retail to achieve the sum of the parts objective. On the operations side, we launched the zero-based budget to improve our competitive position on cost structure. We are proud of the Tyler Refinery team. The team finished the turnaround on time, on budget, and we are on the process of starting the plant. This marked an important milestone for DELEC's turnaround history. With that, we do not have any significant planned downtime schedule until late 2024. So we are well positioned to capture market opportunities during that time. And now, I will hand it over to Todd to speak about operation.