Delek US Holdings has released its quarterly results, with the $0.58 earning-per-share mark soundly beating the Zacks Consensus Estimate of a loss of $0.14 per share and sending the company’s stock upwards.

According to a Zacks press release, the figure represents an “earnings surprise” of 514.3 percent. A quarter ago, the Brentwood-based petroleum refinery operator was expected to post an earnings loss of $0.80 per share but, instead, produced a loss of $0.61, a 23.75 percent difference.

The $0.58 earning-per-share increase for the first quarter compares to a loss of $1.69 per share from the same period in 2021, Zacks reports.

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Over the last four quarters, Delek has surpassed the Zacks consensus EPS estimates four times — with the recent quarterly results driven, in part, by producer demand, the company said.

Delek posted revenues of $4.46 billion for the quarter, surpassing the Zacks Consensus Estimate by 57.4 percent. For comparison, revenues for Q1 2021 were $2.39 billion. The company has topped consensus revenue estimates four times during the last four quarters.

Q1 earnings before interest, taxes, depreciation and amortization were $66 million, compared to $58.7 million EBITDA in the first quarter 2021, per a company release.

"Strong producer demand is prompting significant volume growth in our Permian Gathering System, and we expect momentum to continue throughout the year,” Uzi Yemin, Delek chairman, president and CEO, said in the release. “Complementing our existing gathering business is the planned acquisition of 3Bear Energy (read here). This transaction improves size and scale, increases third party revenue, diversifies geographic footprint within the Permian Basin, expands the product mix and is expected to be immediately accretive to distributable cash flow ratios."

Delek shares (Ticker: DK) were trading at about $28 at mid-afternoon, up a robust 8.5 percent. Zacks reports the shares have added about 65 percent of value since the beginning of the year versus the S&P 500's decline of 12.8 percent.