Delek Logistics Partners, LP (NYSE:DKL) Q1 2024 Results Conference Call May 7, 2024 12:30 PM ET Company Participants Rosy Zuklic - Vice President, Investor Relations Avigal Soreq - President Reuven Spiegel - Executive Vice President & Chief Financial Officer Odely Sakazi - Senior Vice President, Delek Logistics Conference Call Participants Doug Irwin - Citigroup Neal Dingmann - Truist Securities Operator Hello, and thank you for standing by. My name is Regina, and I will be your conference operator today. A ...

Exhibit 99.1 Delek Logistics Reports First Quarter 2024 Results BRENTWOOD, Tenn., May 7, 2024 -- Delek Logistics Partners, LP (NYSE: DKL) ("Delek Logistics") today announced its financial results for the first quarter 2024, with reported net income attributable to all partners of $32.6 million, or $0.73 per diluted common limited partner unit. This compares to net income attributable to all partners of $37.4 million, or $0.86 per diluted common limited partner unit, in the first quarter 2023. The decrease i ...

BRENTWOOD, Tenn., March 12, 2024 /PRNewswire/ -- Delek Logistics Partners, LP (NYSE: DKL) ("Delek Logistics") announced today that it has closed its previously announced underwritten public offering of 3,584,416 common units representing limited partner interests in Delek Logistics, including 467,532 common units sold pursuant to the underwriters' full exercise of their option to purchase additional common units, at a price of $38.50 per unit. Delek Logistics intends to use the gross proceeds of approximate ...

BRENTWOOD, Tenn., March 11, 2024 /PRNewswire/ -- Delek Logistics Partners, LP (NYSE: DKL) ("Delek Logistics") and Delek Logistics Finance Corp., a subsidiary of Delek Logistics (together with Delek Logistics, the "Offerors"), announced today that they have received, as of 5:00 p.m., New York City time, on March 8, 2024 (the "Expiration Time"), tenders from holders of $155,991,000 in aggregate principal amount (excluding tenders through guaranteed delivery procedures), representing approximately 62.4%, of th ...

BRENTWOOD, Tenn., March 7, 2024 /PRNewswire/ -- Delek Logistics Partners, LP (NYSE: DKL) ("Delek Logistics") announced today the pricing of its underwritten public offering of 3,116,884 common units representing limited partner interests in Delek Logistics at $38.50 per unit. The offering is being made pursuant to an effective shelf registration statement previously filed with the Securities and Exchange Commission (the "SEC"). A preliminary prospectus supplement relating to the offering has also been filed ...

BRENTWOOD, Tenn., March 7, 2024 /PRNewswire/ -- Delek Logistics Partners, LP (NYSE: DKL) ("Delek Logistics") announced today that it has commenced an underwritten public offering of $120,000,000 of common units representing limited partner interests in Delek Logistics pursuant to an effective shelf registration statement previously filed with the Securities and Exchange Commission (the "SEC"). A preliminary prospectus supplement relating to the offering will also be filed with the SEC. Delek Logistics inten ...

BRENTWOOD, Tenn., March 6, 2024 /PRNewswire/ -- Delek Logistics Partners, LP (NYSE: DKL) today announced that 2023 K-1 tax packages are now available on our third-party provider's website, https://www.taxpackagesupport.com/DelekLogistics. Printing and mailing of these tax packages are currently underway. Questions regarding the 2023 Tax Reporting Package can be addressed by contacting 1-833-263-0144 between 8:00 a.m. and 5:00 p.m. CST, Monday through Friday. About Delek Logistics Partners, LPDelek Logistics ...

BRENTWOOD, Tenn., Feb. 28, 2024 /PRNewswire/ -- Delek Logistics Partners, LP (NYSE: DKL) ("Delek Logistics") announced today that it, along with Delek Logistics Finance Corp., a subsidiary of Delek Logistics, priced an upsized offering of $650 million in aggregate principal amount of 8.625% senior notes due 2029 (the "Notes") at par. The aggregate principal amount of the offering was increased from the previously announced offering size of $550 million. The offering is expected to close March 13, 2024, subj ...

BRENTWOOD, Tenn., Feb. 28, 2024 /PRNewswire/ -- Delek Logistics Partners, LP (NYSE: DKL) ("Delek Logistics") and Delek Logistics Finance Corp., a subsidiary of Delek Logistics (together with Delek Logistics, the "Offerors"), announced today that they have commenced a cash tender offer (the "Offer") for any and all of their outstanding 6.75% Senior Notes due 2025 (the "Notes"), upon the terms and conditions set forth in the Offer to Purchase, dated as of February 28, 2024, and the related Letter of Transmitt ...

Financial Data and Key Metrics Changes - The fourth quarter of 2023 adjusted EBITDA was $100.9 million compared to $92.5 million in the same period of 2022, indicating a year-over-year increase [51] - Distributable cash flow was reported at $65 million with a DCF coverage ratio of 1.4% [4] - The capital program for 2024 is expected to be about $70 million, including approximately $20 million for sustaining and regulatory capital and $50 million for growth capital [52] Business Line Data and Key Metrics Changes - For the Gathering and Processing segment, adjusted EBITDA for the quarter was $53.3 million, up from $48.1 million in Q4 2022, primarily due to higher throughput from Delek Logistics Premium Basin assets [4] - Wholesale Marketing and Terminalling adjusted EBITDA increased to $28.4 million from $23.3 million year-over-year, driven by higher terminal utilization [38] - Storage and Transportation adjusted EBITDA rose to $17.5 million compared to $16.1 million in the fourth quarter of 2022, mainly due to higher storage and transportation rates [38] Market Data and Key Metrics Changes - The Delaware Gathering and Processing assets are performing in line with expectations, while Permian Basin volumes are slightly lower due to new production stabilizing over time [9] - The company anticipates an increase in volumes in the second half of the year as capital projects are incrementally advanced [58] Company Strategy and Development Direction - The company is focused on growing third-party revenues and exploring natural gas opportunities in the Delaware Basin, where significant growth is expected [50] - A significant capital budget is in place to enhance additional volume and connections in the Delaware and Midland areas [9] Management's Comments on Operating Environment and Future Outlook - Management expressed optimism about consistent improvement in business operations and highlighted a strong position in the Permian Basin [22][23] - The long-term outlook for the Delaware Gathering System remains unchanged despite a goodwill impairment due to increased interest rates [51] Other Important Information - The Board approved the 44th consecutive increase in the quarterly distribution to $1.055 per unit, reflecting confidence in maintaining competitive distributions [3] - The company has achieved a record year and a record quarter, exceeding $100 million in adjusted EBITDA [18] Q&A Session Summary Question: Long-term outlook for Delaware Gathering and Processing assets - Management confirmed that the three Bear assets are meeting expectations and the initial target of $100 million annual EBITDA remains a good number to work with [5] Question: 2024 outlook and growth targets - Management achieved a $100 million quarterly EBITDA run rate by the end of 2023 and is optimistic about future growth metrics [6] Question: Sequential volume changes in Midland and Delaware - Management noted that maintenance work expedited in Q4 affected gas volumes, but improvements are expected in Q1 [25] Question: Corporate expenses and debt maturities - Corporate expenses have decreased, and management is examining various instruments for refinancing upcoming debt maturities [44][45]