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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 ...
Delek Logistics(DKL) - 2021 Q1 - Quarterly Report
2021-05-06 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, 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 ju ...
Delek Logistics(DKL) - 2021 Q1 - Earnings Call Transcript
2021-05-05 18:39
Delek Logistics Partners, LP (NYSE:DKL) Q1 2021 Earnings Conference Call May 5, 2021 8:30 AM ET Company Participants Blake Fernandez - Senior Vice President of Investor Relations & Market Intelligence Uzi Yemin - Chairman & Chief Executive Officer Reuven Spiegel - Chief Financial Officer Avigal Soreq - Executive Vice President & Chief Operating Officer Conference Call Participants Spiro Dounis - Credit Suisse Ned Baramov - Wells Fargo Operator Good day, and welcome to the Delek Logistics' First Quarter 2021 ...
Delek Logistics(DKL) - 2020 Q4 - Annual Report
2021-02-28 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, 2020 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) - 2020 Q4 - Earnings Call Transcript
2021-02-24 15:00
Financial Data and Key Metrics Changes - Distributable cash flow (DCF) for Q4 2020 was approximately $56 million, up from $33 million in Q4 2019, representing a significant increase [6] - Net income attributable to all partners increased approximately 88% year-over-year [6] - EBITDA for Q4 2020 was $64 million, a 48% increase compared to the prior year [6] - DCF coverage ratio improved to 1.41 in Q4 2020 from 1.08 in the prior year [6] - Quarterly distribution increased to $0.91 per limited partner unit, marking a 0.6% increase from Q3 2020 and a 2.8% increase from Q4 2019 [7] Business Line Data and Key Metrics Changes - In the Pipelines and Transportation segment, contribution margin rose to $44 million in Q4 2020 from $25 million in Q4 2019, driven by recent asset dropdowns [9] - Operating expenses in the Pipelines and Transportation segment decreased by $10 million year-over-year [9] - In the Wholesale Marketing and Terminalling segment, contribution margin was $18 million in Q4 2020, slightly up from $17 million in the prior year [9] - Equity income from crude oil joint ventures was approximately $6 million, compared to $5 million in the prior year [10] Market Data and Key Metrics Changes - The company had approximately $103 million of available capacity on its $850 million credit facility as of December 31, 2020 [7] - Total debt was approximately $1 billion, with a total leverage ratio of 3.75 times, within the allowable limit of 5.5 times under the credit facility [7] Company Strategy and Development Direction - The company aims for a 5% distribution growth for 2021, supported by strong operational performance and organic projects expected to materialize in Q2 [12][17] - The Wink to Webster Pipeline is set to fully operate in Q4 2021, which may enhance the company's position [18] - The company is undergoing an internal review to identify assets that could strengthen its market position [17][18] Management's Comments on Operating Environment and Future Outlook - Management highlighted a stellar year despite macro headwinds, with significant increases in net income and EBITDA [12] - The company exceeded year-end distribution coverage and leverage ratio targets earlier than expected, providing flexibility for 2021 [12] - Management expressed confidence in achieving the targeted distribution growth without compromising coverage or leverage ratios due to organic growth projects [18] Other Important Information - The company went the entire year without a recordable incident, reflecting positively on employee performance and safety [12] Q&A Session Summary Question: Inquiry about West Texas margins and RINs prices - Management noted that hedging losses impacted Q4 margins despite strong RIN prices, and they expect RIN prices to remain strong into Q1 [14][15] Question: Discussion on growth drivers for EBITDA - Management indicated several organic projects are planned for Q2, which are expected to support EBITDA growth and distribution targets [16][17]