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Delek Logistics(DKL) - 2023 Q4 - Annual Report
2024-02-27 16:00
(Mark One) ☑ ANNUAL REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 Form 10-K For the Fiscal Year Ended December 31, 2023 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) Securities registered pursuant to Section 1 ...
Delek Logistics Reports Fourth Quarter 2023 Results and 2024 Capital Program
Prnewswire· 2024-02-27 12:30
Fourth Quarter Net income attributable to all partners of $22.1 million Quarterly EBITDA of $86.1 million, adjusted EBITDA of $100.9 million Distributable cash flow of $64.6 million, DCF coverage ratio of 1.40x Delivered 44 consecutive quarters of distribution growth with recent increase to $1.055/unit 2023 Full Year Net income attributable to all partners of $126.2 million EBITDA of $370.3 million, adjusted EBITDA of $385.1 million Distributable cash flow of $248.2 million, DCF coverage ratio of 1.37x ...
Delek Logistics(DKL) - 2023 Q4 - Annual Results
2024-02-26 16:00
Exhibit 99.1 Delek Logistics Reports Fourth Quarter 2023 Results and 2024 Capital Program Fourth Quarter 2023 Full Year 2024 Capital Program Distribution and Liquidity On January 24, 2024, Delek Logistics declared a quarterly cash distribution of $1.055 per common limited partner unit for the fourth quarter 2023. This distribution was paid on February 12, 2024 to unitholders of record on February 5, 2024. This represents a 1.0% increase from the third quarter 2023 distribution of $1.045 per common limited p ...
Delek US Holdings Increases Regular Quarterly Dividend
Prnewswire· 2024-02-20 23:14
BRENTWOOD, Tenn., Feb. 20, 2024 /PRNewswire/ -- Delek US Holdings, Inc. (the "Company" or "Delek US") announced that its Board of Directors has approved a $0.005 per share increase in the regular quarterly dividend to $0.245 per share, to be paid on March 8, 2024, to shareholders of record on March 1, 2024. About Delek US Holdings, Inc.Delek US Holdings, Inc. is a diversified downstream energy company with assets in petroleum refining, logistics, pipelines, renewable fuels and convenience store retailing. T ...
Delek Logistics Partners, LP to Host Fourth Quarter 2023 Conference Call on February 27th
Prnewswire· 2024-01-26 16:03
BRENTWOOD, Tenn., Jan. 26, 2024 /PRNewswire/ -- Delek Logistics Partners, LP (NYSE: DKL) ("Delek Logistics") today announced that the Partnership intends to issue a press release summarizing fourth quarter 2023 results before the U.S. stock market opens on Tuesday, February 27, 2024. A conference call to discuss these results is scheduled to begin at 11:30 a.m. CT (12:30 p.m. ET) on Tuesday, February 27, 2024. The live broadcast of this conference call will be available online by going to www.DelekLogistics ...
Delek Logistics Partners, LP Increases Quarterly Cash Distribution to $1.055 per Common Limited Partner Unit
Prnewswire· 2024-01-24 21:30
BRENTWOOD, Tenn., Jan. 24, 2024 /PRNewswire/ -- Delek Logistics Partners, LP (NYSE: DKL) ("Delek Logistics") today declared its quarterly cash distribution for the fourth quarter 2023 of $1.055 per common limited partner unit, or $4.22 per common limited partner unit on an annualized basis. This distribution represents a 1.0 percent increase from the distribution for the third quarter 2023 of $1.045 per common limited partner unit ($4.18 per common limited partner unit annualized) and a 3.4 percent increase ...
Delek Logistics(DKL) - 2023 Q3 - Earnings Call Transcript
2023-11-07 20:55
Financial Data and Key Metrics Changes - Total EBITDA for Delek Logistics Partners was $98 million for Q3 2023, compared to $89 million for the same period in 2022, reflecting a year-over-year increase [20] - Distributable cash flow for Q3 2023 was $61 million, with a DCF coverage ratio of 1.35x [20] - Capital expenditures for Q3 2023 were $15 million, with expectations for total capital expenses in the range of $85 million to $90 million for the year [21] Business Line Data and Key Metrics Changes - The Storage and Transportation segment EBITDA increased to $18 million in Q3 2023 from $15 million in Q3 2022, benefiting from industry-wide fee escalations [5] - The Wholesale Marketing and Terminalling segment EBITDA rose to $28 million for the quarter, up from $20 million in Q3 2022, due to higher utilization and improved margins [10] - The Gathering and Processing segment EBITDA was $53 million for Q3 2023, compared to $57 million in Q3 2022, with the previous year benefiting from a one-time credit [20] Market Data and Key Metrics Changes - Midland Gathering throughput averaged approximately 250,000 barrels per day in Q3 2023, more than double the average of 121,000 barrels per day in Q3 2022 [10] - Performance in the Delaware Gathering assets was slightly lower than the previous quarter but still better than the same period last year, impacted by weather conditions [14] Company Strategy and Development Direction - The company aims to exceed a quarterly EBITDA run rate of $100 million by Q4 2023, supported by investments in the Midland and Delaware Gathering systems [19] - The focus remains on diversifying revenue streams and increasing third-party business, with a commitment to growth opportunities [3][19] Management's Comments on Operating Environment and Future Outlook - Management expressed confidence in the company's ability to maintain strong performance despite challenges in the Delaware region due to weather impacts [14] - The company received an operational award of excellence from the National Safety Council, highlighting its commitment to safety and operational excellence [25] Other Important Information - The Board of Directors approved a 5.6% increase in the quarterly distribution to $1.045 per limited partner unit for Q3 2023, reflecting a commitment to increasing distributions [25] Q&A Session Summary Question: Regarding Permian volumes and performance in the Delaware region - Management acknowledged that while Midland Gathering performed strongly, Delaware Gathering faced challenges due to extreme heat and compression constraints, impacting both electricity and producer availability [12][14] Question: Insights on the performance of the Gathering and Processing segment - Management noted that the Gathering and Processing segment is benefiting from previous capital investments, with strong performance expected to continue [23][26]
Delek Logistics(DKL) - 2023 Q3 - Quarterly Report
2023-11-07 16:00
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, 2023 or UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 ☐ 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) | 45-5379027 | | --- | | Delaware ...
Delek Logistics(DKL) - 2023 Q2 - Quarterly Report
2023-08-08 16:00
UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 Form 10-Q ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the transition period from to (Mark One) ☑ QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the quarterly period ended 6/30/2023 or Delaware 45-5379027 Commission file number 001-35721 DELEK LOGISTICS PARTNERS, LP (Exact name of registrant as specified in its charter) Indicate by check mark ...
Delek Logistics(DKL) - 2023 Q2 - Earnings Call Transcript
2023-08-07 17:16
Financial Data and Key Metrics Changes - Total EBITDA for Delek Logistics Partners was $93 million for Q2 2023, up from $65 million in Q2 2022, indicating a significant increase in performance [5][7] - Distributable cash flow for Q2 2023 was $60 million, reflecting strong cash generation capabilities [7] - The coverage ratio was reported at 1.34x, suggesting a healthy ability to cover distributions [18] Business Line Data and Key Metrics Changes - The Wholesale Marketing and Terminalling segment reported EBITDA of $28 million for Q2 2023, compared to $19 million in Q2 2022, driven by higher throughput and gross margins [8] - The Storage and Transportation segment maintained EBITDA at $15 million, consistent with the previous year's results [8] - The Investments in Pipeline Joint Ventures segment contributed $7 million, flat compared to Q2 2022 [8] - The Gathering and Processing segment saw EBITDA increase to $53 million from $38 million year-over-year, primarily due to strong contributions from the Midland and Delaware Gathering Systems [18] Market Data and Key Metrics Changes - Midland Gathering System volumes more than doubled compared to the previous year, averaging approximately 222,000 barrels per day in Q2 2023, up from 100,000 barrels per day in Q2 2022 [15][18] Company Strategy and Development Direction - The company is focused on sustainable growth and plans to exceed a $100 million quarterly EBITDA run rate by Q4 2023 [15] - Capital expenditures for Q2 2023 were $19 million, primarily for growth projects in the Delaware and Midland Gathering Systems, with a total capital outlook of $81 million for the year [19] Management's Comments on Operating Environment and Future Outlook - Management expressed a positive outlook, citing consistent results and stable cash flow, particularly as production in the Permian Basin ramps up [5] - The company is committed to increasing quarterly distributions, with a 5.1% increase approved for Q2 2023 to $1.035 per limited partner unit [6] Other Important Information - The company has identified more value-add opportunities with producers, indicating a proactive approach to enhancing operational efficiency and profitability [15] Q&A Session Summary - There were no questions during the Q&A session, and the call concluded with management expressing gratitude to employees, the Board of Directors, and investors for a successful quarter [20][21]