Delek US Holdings (DK) stock plummeted 5.03% in intraday trading on Wednesday, following the release of its Q4 2024 earnings results and bearish analyst reactions.

The company reported a net loss of $414 million, or $6.55 per share, for the fourth quarter of 2024, including a partial impairment of its goodwill balance. The adjusted net loss stood at $161 million, or $2.54 per share, while adjusted EBITDA was a loss of $23 million.

The disappointing results were primarily driven by a lower refining segment contribution due to a weaker margin environment in Q4 2024. Additionally, the supply and marketing segment contributed a loss of $34.6 million, impacted by seasonal low demand trends and other factors.

Delek US Holdings also faced challenges with its small refinery exemption petition under the Renewable Fuel Standard (RFS), which was sent back to the EPA for reconsideration after a court ruling.

Furthermore, analysts raised concerns about the company's Delek Logistics subsidiary, which continues to trade at a discount compared to its peers, with limited value reflected in DK shares despite the company's efforts to deconsolidate the subsidiary.

In response to the earnings report, Wells Fargo maintained a Sell rating on DK stock, while TD Cowen lowered its price target to $15 from $16 and kept a Sell rating, citing the slight EBITDA beat but overall disappointing performance.