Delek US Holdings, Inc.

Good morning, and welcome to the DELIC-US Second Quarter Earnings Conference Call. All participants will be in listen-only mode. Should you need assistance, please signal a conference specialist by pressing the star key followed by zero. After today's presentation, there will be an opportunity to ask questions. To ask a question, you may press star, then one on your telephone keypad. To withdraw your question, please press star, then two. Please note, this event is being recorded. I would now like to turn the conference over to Rosie Zuklik, Vice President of Investor Relations. Please go ahead.

Good morning and welcome to the DELIC-US Second Quarter Earnings Conference Call. Participants on today's call will include Abigail Sorek, President and CEO, Joseph Israel, EVP Operations, Reuben Spiegel, EVP and Chief Financial Officer, Mark Hobbs, EVP Corporate Development. Today's presentation material can be found on the Investor Relations section of the DELIC U.S. website. Slide 2 contains our safe harbor statement regarding forward-looking statements. We'll be making forward-looking statements during today's call. These statements involve risks and uncertainties that may cause actual results to differ materially from today's comments. Factors that could cause actual results to differ are included here as well as in our SEC filings. The company assumes no obligation to update any forward-looking statements. I will now turn the call over to Abigail for opening remarks.

Good morning and thank you for joining us today. During the second quarter, we delivered solid financial results. Our team executed well and stayed focused on our key objectives. we continue to do what we said we would do. We kept our commitment to return value to shareholders. We target a dividend that is competitive and sustainable. Giving the market outlook, our share buyback program gives us the ability to further reward our investors in the near and mid-term. Year-to-date, we have returned $95 million towards dividend and share buybacks. Since June of last year, To the end of this week, we have returned close to $275 million to investors. We also recognize there is a value in a strong balance sheet and financial flexibility. We continue to improve the efficiency of our cost structure. G&A improving the quarter and OPEX will follow. I'm pleased with our progress. Rosie will give more details in the financial section. Turning to the operation during the quarter, we ran well through most of our system. Improving the safety and reliability of our refining system is fundamental. During the quarter, we made steps in the right direction. We continue to make good progress. Our refining segment reflects strong contribution for our wholesale and asphalt businesses, driven by local market demand. In addition, our oil sales business benefited from higher location differentials. We see these trends continuing. From a macro standpoint, in the month of July, our benchmark U.S. Gulf Coast crack spread improved by approximately $5 per barrel, which further improved our outlook for the year. Crude is also a good story for us. We see the heavy light differential continue to compress which is favorable for our configuration as our system is fully balanced at 95% light with no excess naphtha. In addition, with the growth we see in the permanent production, we expect to be favorable in the midland differential. Our logistics segment delivered strong results with adjusted EBITDA of $91 million this quarter. Our prime acreage is outperforming the permanent basin. We now forecast around $100 million a quarter from this segment starting in Q4 of this year. Retail also posted a solid quarter. This was driven by higher fuel volume, increased average margin, and higher inside store sales. In closing, our team continued to successfully advance our strategy. I want to thank each and every team member for their contribution. There is still value to unlock as we continue to execute on our strategic initiative. Now, I would like to turn the call over to Joseph, who will provide additional color on our operation.