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Delek Logistics(DKL) - 2022 Q2 - Earnings Call Transcript
2022-08-07 17:28
Delek Logistics Partners, LP (NYSE:DKL) Q2 2022 Earnings Conference Call August 4, 2022 10:00 AM ET Company Participants Blake Fernandez - Investor Relations Uzi Yemin - General Partners Chairman Avigal Soreq - President Reuven Spiegel - Chief Financial Officer Odely Sakazi - Senior Vice President Conference Call Participants Michael Cusimano - Pickering Energy Partners Operator Good day and welcome to the Delek Logistics Second Quarter 2022 Conference Call. [Operator Instructions] Please note this event is ...
Delek Logistics(DKL) - 2022 Q2 - Quarterly Report
2022-08-04 16:00
UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 Form 10-Q (Mark One) ☑ QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the quarterly period ended June 30, 2022 or ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the transition period from to Commission file number 001-35721 DELEK LOGISTICS PARTNERS, LP (Exact name of registrant as specified in its charter) Delaware 45-5379027 (State or other jur ...
Delek Logistics(DKL) - 2022 Q1 - Quarterly Report
2022-05-04 16:00
UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 Form 10-Q (Mark One) ☑ QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the quarterly period ended March 31, 2022 or ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the transition period from to Commission file number 001-35721 DELEK LOGISTICS PARTNERS, LP (Exact name of registrant as specified in its charter) Delaware 45-5379027 (State or other ju ...
Delek Logistics(DKL) - 2022 Q1 - Earnings Call Transcript
2022-05-03 18:27
Financial Data and Key Metrics Changes - Distributable cash flow for Q1 2022 was approximately $52 million, a slight decrease from $53 million in Q1 2021 [6] - The DCF coverage ratio was 1.21 times for Q1 2022, down from 1.31 times in the prior year [6] - EBITDA increased by 12% to $66 million compared to the prior year [6] - The quarterly distribution was increased to $0.98 per limited partner unit, representing a 0.5% increase from Q4 2021 and a 6.5% increase from Q1 2021 [7] Business Line Data and Key Metrics Changes - In the Pipelines and Transportation segment, the contribution margin for Q1 2022 was $43.2 million, compared to $41.7 million in Q1 2021 [9] - The Wholesale Marketing and Terminalling segment saw a contribution margin of $19 million in Q1 2022, up from $15 million in Q1 2021, driven by stronger volumes [9] - Equity income from crude oil joint venture pipelines was approximately $7 million, an increase from $4 million in the prior year [10] Market Data and Key Metrics Changes - As of March 31, the company had $586 million of available capacity on its $850 million credit facility, with total debt at $906 million and a leverage ratio of approximately 3.3 times [8] Company Strategy and Development Direction - The company is focusing on its legacy Permian Gathering business, expecting to at least double volumes from Q4 2021 to Q4 2022 [12] - The planned acquisition of 3Bear is expected to enhance size and scale, increase third-party fixed fee revenue, and diversify into the Delaware portion of the Permian Basin [12] - The acquisition is anticipated to be immediately accretive to the DCF ratio [12] Management's Comments on Operating Environment and Future Outlook - Management expressed confidence in the ability to continue rewarding unitholders based on macro indicators and the lack of maintenance at the Delek US refining system [13] - The company plans to finance the 3Bear acquisition primarily through debt but expects to manage leverage effectively due to strong underlying business performance [14][15] Other Important Information - Capital expenditures for Q1 2022 were approximately $9.1 million, with a total gross capital expenditure outlook of $73 million for the year [10][11] - The company has achieved 37 consecutive quarters of distribution growth [13] Q&A Session Summary Question: Financing of 3Bear acquisition and leverage targets - Management acknowledged that leverage will increase due to the acquisition but expressed confidence in managing it down over time due to strong business performance [14][15] Question: Impact of financing on dropdown timing - Management confirmed that the timing of dropdowns remains intact, with expectations for the Wink to Webster dropdown to occur in 2023 [16]
Delek Logistics(DKL) - 2021 Q4 - Earnings Call Transcript
2022-02-24 16:38
Delek Logistics Partners, LP (NYSE:DKL) Q4 2021 Earnings Conference Call February 24, 2022 8:30 AM ET Company Participants Blake Fernandez - Senior Vice President of investor relations Uzi Yemin - Chairman and Chief Executive Officer Reuven Spiegel - Chief Financial Officer Conference Call Participants Spiro Dounis - Credit Suisse Operator Good day, and welcome to the Delek Logistics Fourth Quarter 2021 Conference Call. All participants will be in a listen-only mode. [Operator Instructions]. After today’s p ...
Delek Logistics(DKL) - 2021 Q4 - Annual Report
2022-02-24 16:00
UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 Form 10-K (Mark One) ☑ ANNUAL REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the Fiscal Year Ended December 31, 2021 OR ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the transition period from to Commission file number 001-35721 DELEK LOGISTICS PARTNERS, LP (Exact name of registrant as specified in its charter) Delaware 45-5379027 (State or other jurisdi ...
Delek Logistics(DKL) - 2021 Q3 - Earnings Call Transcript
2021-11-05 13:42
Delek Logistics Partners, LP (NYSE:DKL) Q3 2021 Earnings Conference Call November 5, 2021 8:00 AM ET Company Participants Blake Fernandez – Senior Vice President of investor relations Uzi Yemin – Chairman and Chief Executive Officer Rueven Spiegel – Chief Financial Officer Conference Call Participants Spiro Dounis – Credit Suisse Operator Good morning, and welcome to the Delek Logistics' Third Quarter 2021 Conference Call. All participants will be in listen-only mode. [Operator instructions] After today's p ...
Delek Logistics(DKL) - 2021 Q3 - Quarterly Report
2021-11-04 16:00
UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 Form 10-Q (Mark One) ☑ QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the quarterly period ended September 30, 2021 or ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the transition period from to Commission file number 001-35721 DELEK LOGISTICS PARTNERS, LP (Exact name of registrant as specified in its charter) Delaware 45-5379027 (State or othe ...
Delek Logistics(DKL) - 2021 Q2 - Quarterly Report
2021-08-04 16:00
UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 Form 10-Q (Mark One) ☑ QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the quarterly period ended June 30, 2021 or ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the transition period from to Commission file number 001-35721 DELEK LOGISTICS PARTNERS, LP (Exact name of registrant as specified in its charter) Delaware 45-5379027 (State or other jur ...
Delek Logistics(DKL) - 2021 Q2 - Earnings Call Transcript
2021-08-04 14:16
Delek Logistics Partners, LP (NYSE:DKL) Q2 2021 Earnings Conference Call August 4, 2021 8:30 AM ET Company Participants Blake Fernandez - Senior Vice President, Investor Relations & Market Intelligence Reuven Spiegel - Executive Vice President and Chief Financial Officer Uzi Yemin - President and Chief Executive Officer Conference Call Participants Spiro Dounis - Credit Suisse Operator Good morning, and welcome to the Delek Logistics' Second Quarter 2021 Conference Call. All participants will be in a listen ...