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    Alexia Patrick

    Vice President and Equity Research Analyst at BofA Securities

    Alexia Patrick is a Vice President and Equity Research Analyst at BofA Securities, specializing in the consumer discretionary and retail sectors. She covers major publicly traded companies including Target, Walmart, and Home Depot, and is noted for providing accurate investment insights that have consistently outperformed sector benchmarks. Patrick began her career in equity research at a boutique investment management firm in 2015 before joining BofA Securities in 2019; she was promoted to her current role in 2023. She holds FINRA Series 7 and Series 63 licenses and has received internal recognition for her contributions to the firm's industry-leading research team.

    Alexia Patrick's questions to Delek US Holdings (DK) leadership

    Alexia Patrick's questions to Delek US Holdings (DK) leadership • Q1 2025

    Question

    Alexia Patrick of BofA Securities inquired about the full-year EBITDA guidance for Delek Logistics (DKL), the impact of Permian activity, and Delek's broader capital return strategy, including dividend sustainability and the balance between share repurchases and deleveraging.

    Answer

    Avigal Soreq, President and CEO, affirmed the DKL guidance, citing strong performance from water acquisitions and a unique competitive position in the Delaware Basin with sour gas capabilities. Regarding capital allocation, Soreq emphasized that the Enterprise Optimization Plan (EOP) is driving free cash flow, enabling a balanced approach to shareholder returns. He noted a strong conviction in the value of the company's shares, leading to counter-cyclical buybacks.

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