Financial Data and Key Metrics Changes - Delek Logistics achieved a record Adjusted EBITDA of $536 million for 2025, reflecting strong execution across its businesses [3] - Adjusted EBITDA for Q4 was approximately $142 million, up from $114 million in the same period last year, and $6 million higher than the previous record set in Q3 [11] - Distributable cash flow (DCF) as adjusted totaled $73 million, with a DCF coverage ratio of approximately 1.22 times [11] Business Line Data and Key Metrics Changes - In the Gathering and Processing segment, Adjusted EBITDA for Q4 was $71 million compared to $66 million in Q4 2024, primarily due to acquisitions of H2O and Gravity [12] - Storage and transportation Adjusted EBITDA increased to $35 million from $18 million in Q4 2024, driven by the sale of certain assets to DK [12] - Investments in pipeline joint ventures contributed $26 million in Q4, compared to $18 million in the same quarter last year [12] Market Data and Key Metrics Changes - Approximately 80% of the run rate EBITDA in 2026 is expected to come from third parties, indicating increased economic separation from the sponsor, DK [7] - The company is focusing on the Delaware Basin, where the demand for sour gas solutions is increasing, necessitating further processing capacity [8] Company Strategy and Development Direction - Delek Logistics aims to be a premier full-service provider in the Permian Basin, focusing on natural gas, crude, and water businesses [3] - The company announced a 2026 EBITDA guidance range of $520 million to $560 million, reflecting growth opportunities while managing leverage and coverage [5] - The integration of H2O and Gravity has strengthened the company's competitive position and growth platform [4] Management's Comments on Operating Environment and Future Outlook - Management expressed confidence in the company's ability to deliver sustainable growth and long-term value for unit holders [6] - The company is optimistic about the growth potential in the Delaware gas business, which is expected to be a significant growth engine [20] - Management highlighted the importance of maintaining financial discipline while pursuing growth opportunities [10] Other Important Information - The board approved a distribution increase to $1.125 per unit, marking 13 consecutive years of distribution growth [5] - Total capital expenditures for Q4 were approximately $32 million, with $26 million allocated to growth capital [13] Q&A Session Summary Question: Growth expectations for the GMT segment - Management discussed the clear strategy in crude, gas, and water, emphasizing a return on investment of 1-3 times, which is beneficial for coverage and leverage ratios [17] Question: EBITDA impact from transactions with DK - Management noted that these transactions have furthered the economic separation of the two entities, with 82% of DKL's EBITDA now coming from third-party businesses [23] Question: Next steps on Libby processing expansion - Management indicated that they are looking at future expansions and are optimistic about the macro and micro conditions in the area [28] Question: Thoughts on sour gas midstream M&A - Management stated that they are open to acquisitions but will only pursue deals that are accretive to free cash flow and maintain their financial principles [34]

Aura Minerals (NasdaqGS:AUGO) Q4 2025 Earnings call February 27, 2026 08:30 AM ET Company ParticipantsKleber Cardozo - CFONatasha Utescher - Investor Relations Executive and Treasury ManagerRodrigo Barbosa - President and CEOConference Call ParticipantsEdgard de Souza - Sell-Side Equity Research AnalystEnrique Marquez - Investment Banking AnalystGuilherme Cipis - Equity Research AnalystLawson Winder - Senior Equity Research AnalystMarcelo Arazi - Lead Equity Research AnalystMateus Moreira - Equity Research ...

FTAI Infrastructure (NasdaqGS:FIP) Q4 2025 Earnings call February 27, 2026 08:00 AM ET Company ParticipantsAlan Andreini - Head of Investor RelationsKen Nicholson - CEO and PresidentConference Call ParticipantsBrian McKenna - Managing Director, and Equity Research AnalystCraig Shere - Director of Research, and Senior Equity AnalystGiuliano Anderes Bologna - Managing Director, and Equity Research AnalystSherif Elmaghrabi - Equity Research Analyst, and Vice PresidentOperatorGood day, and thank you for standin ...

Financial Data and Key Metrics Changes - Adjusted EBITDA for Q4 2025 reached a record $80.2 million, up from $70.9 million in Q3 2025 and $29.2 million in Q4 2024 [5][6] - For the full fiscal year 2025, adjusted EBITDA was $232.3 million, significantly higher than $127.6 million in fiscal 2024 [6] - The company exited 2025 with an EBITDA run rate of over $320 million annually, indicating strong future performance [8] Business Line Data and Key Metrics Changes - In the rail segment, adjusted EBITDA was $41.3 million in Q4, with $22 million from Transtar and $19.3 million from Wheeling [8][9] - Long Ridge generated $36.2 million of EBITDA in Q4, slightly up from $35.7 million in Q3, despite outages impacting production [17][18] - Jefferson terminal reported $13.6 million of adjusted EBITDA in Q4, up from $11 million in Q3, driven by a new ammonia export contract [20] Market Data and Key Metrics Changes - Wheeling's Q4 revenue was $43.8 million, an 8% year-over-year increase, with adjusted EBITDA up 34% year-over-year [15] - Gas production at Long Ridge averaged approximately 105,000 MMBtu per day, exceeding the plant's requirements [18] - Jefferson terminal volumes averaged 210,000 barrels per day, setting a new quarterly revenue record [20] Company Strategy and Development Direction - The company is focused on integrating Transtar and Wheeling, with a target of $20 million in annual cost savings [12][16] - Plans to monetize Long Ridge are progressing, with expectations for a sale announcement in the first half of 2026 [12][60] - The company is pursuing four M&A opportunities in the rail sector, aiming to enhance its freight rail business [39][48] Management's Comments on Operating Environment and Future Outlook - Management expressed confidence in the strong macro environment for power generation and the potential for growth at Long Ridge [19] - The company anticipates continued growth at Jefferson, with multiple new contracts expected to contribute significantly to revenues [20][21] - Management highlighted the importance of deleveraging and optimizing operations before pursuing further acquisitions [42][63] Other Important Information - A new term loan of approximately $1.3 billion was closed, used to repay a bridge loan related to the Wheeling acquisition [11] - The company is advancing construction on phase two of the Repauno project, with expectations for operational commencement in early 2027 [22][36] Q&A Session Summary Question: Expansion opportunities at Jefferson Terminal - Management noted significant commercial interest and potential for additional ammonia volumes, refined products, and Utah crudes, estimating $50 million in incremental EBITDA from these opportunities [28][30] Question: Updates on Repauno phase two and three - Management clarified that phase two is on track for early 2027, with ongoing demand driving the need for phase three planning and construction [36][38] Question: M&A market for rail - Management discussed the active M&A market, focusing on smaller, geographically relevant opportunities that could enhance the existing rail portfolio [48][49] Question: Long Ridge asset sale impact - Management confirmed that the sale process is progressing well, with expectations for significant net proceeds and minimal tax implications [59][62]

Financial Data and Key Metrics Changes - Adjusted EBITDA for Q4 2025 reached a record $80.2 million, up from $70.9 million in Q3 2025 and $29.2 million in Q4 2024 [5][6] - For the full fiscal year 2025, adjusted EBITDA was $232.3 million, significantly higher than $127.6 million in fiscal 2024 [6] - The company exited 2025 with an EBITDA run rate of over $320 million annually, indicating strong future performance [7] Business Line Data and Key Metrics Changes - Rail segment adjusted EBITDA was $41.3 million in Q4, with $22 million from Transtar and $19.3 million from Wheeling [7][8] - Long Ridge generated $36.2 million in EBITDA for Q4, a slight increase from $35.7 million in Q3 [19] - Jefferson terminal reported $13.6 million in adjusted EBITDA for Q4, up from $11 million in Q3 [21] Market Data and Key Metrics Changes - Wheeling's Q4 revenue was $43.8 million, an 8% year-over-year increase, with adjusted EBITDA up 34% year-over-year [15] - Gas production at Long Ridge averaged approximately 105,000 MMBtu per day, setting a new record [9] - Jefferson terminal volumes averaged 210,000 barrels per day, driven by the new ammonia export contract [21] Company Strategy and Development Direction - The company is focused on integrating Transtar and Wheeling, with a target of $20 million in annual cost savings [12] - Plans to monetize Long Ridge are progressing, with expectations for a sale announcement in the first half of 2026 [12][56] - The company is pursuing four M&A opportunities in the rail sector, aiming to enhance its freight rail business [40][46] Management's Comments on Operating Environment and Future Outlook - Management expressed confidence in the strong macro environment for power generation, anticipating continued growth for Long Ridge [20] - The company is optimistic about the demand for services at Jefferson, expecting significant revenue contributions from new contracts [22] - Management highlighted the importance of deleveraging and optimizing operations while exploring strategic acquisitions [40] Other Important Information - A new term loan of approximately $1.3 billion was closed, used to repay a bridge loan related to the Wheeling acquisition [11] - The company is advancing construction on phase two of the Repauno project, with expectations for operational commencement in early 2027 [35][36] Q&A Session Summary Question: Expansion of business development opportunities at Jefferson - Management noted increased commercial interest at Jefferson, with potential for $10 million-$15 million in incremental EBITDA from ammonia contracts and additional refined products [28][30] Question: Updates on Repauno phase two and three - Management clarified that phase two is on track for early 2027, with significant demand driving the need for phase three [35][36] Question: M&A opportunities in the rail segment - Management confirmed active pursuit of four actionable M&A opportunities, focusing on smaller properties that fit well with existing operations [46][48] Question: Impact of Long Ridge asset sales on data center discussions - Management indicated no impact on data center developments, with a goal to announce a transaction for Long Ridge in the first half of 2026 [56]

Core Insights - Delek Logistics Partners achieved a record year in 2025, driven by strong performance across its crude, gas, and water businesses, highlighted by the startup of the Libby 2 gas plant and the acquisition of Gravity Water Midstream [2][3] - The company provided 2026 EBITDA guidance of $520 to $560 million, factoring in a $10 million negative impact from Winter Storm Fern [2][3] - Delek Logistics declared a quarterly cash distribution of $1.125 per common limited partner unit for Q4 2025, marking a 0.4% increase from Q3 2025 and a 1.8% increase from Q4 2024 [5] Financial Performance - For Q4 2025, net income was $47.3 million, or $0.88 per diluted common limited partner unit, compared to $35.3 million, or $0.68 per diluted common limited partner unit, in Q4 2024 [3][4] - Net cash provided by operating activities was $43.2 million in Q4 2025, down from $49.9 million in Q4 2024 [3] - Adjusted EBITDA for Q4 2025 was $142.3 million, an increase from $114.3 million in Q4 2024, reflecting contributions from H2O Midstream and Gravity operations [4][7] Segment Performance - The Gathering and Processing segment reported an Adjusted EBITDA of $70.9 million in Q4 2025, up from $66.0 million in Q4 2024, primarily due to contributions from Gravity and H2O Midstream acquisitions [8] - The Wholesale Marketing and Terminalling segment's Adjusted EBITDA was $20.9 million in Q4 2025, slightly down from $21.2 million in Q4 2024, mainly due to the assignment of a marketing agreement [9] - The Storage and Transportation segment saw Adjusted EBITDA rise to $34.7 million in Q4 2025 from $17.8 million in Q4 2024, driven by increased interest income from sales-type leases [10] Debt and Liquidity - As of December 31, 2025, Delek Logistics had total debt of approximately $2.3 billion and cash of $10.9 million, resulting in a leverage ratio of approximately 4.07x [6][25] - The company had additional borrowing capacity of $0.9 billion under its $1.2 billion revolving credit facility [6] Distribution and Growth Strategy - Delek Logistics has delivered 52 consecutive quarterly distributions, marking 13 years of distribution growth [2] - The company is optimistic about future growth opportunities, particularly in the Delaware Basin, driven by advancements in integrated acid gas injection and sour gas treating solutions [2]

Escalade Reports Fourth Quarter and Full Year 2025 Results [Accessibility Statement] Skip NavigationEVANSVILLE, Ind., Feb. 27, 2026 /PRNewswire/ -- Escalade, Inc. (Nasdaq: ESCA, or the "Company"), a leading manufacturer and distributor of sporting goods and indoor/outdoor recreational equipment, today announced results for the fourth quarter and full year 2025.FOURTH QUARTER 2025 RESULTS(As compared to the fourth quarter 2024)- Increased quarterly dividend to $0.1525 per share- Total debt decreased 27.9% an ...

Alta Equipment Group (NYSE:ALTG) Q4 2025 Earnings call February 26, 2026 05:00 PM ET Speaker2Good afternoon. Thank you for attending today's Alta Equipment Group fourth quarter and full year 2025 earnings conference call. My name is Reagan. I'll be your moderator for today's call. I'll now turn the call over to Jason Danmeier, Vice President of Accounting and Reporting with Alta Equipment Group. Please proceed.Speaker0Thank you, Reagan. Good afternoon, everyone, and thank you for joining us today. A press r ...

Grifols doubles net profit in 2025, driven by revenues | ReutersSkip to main content[Exclusive news, data and analytics for financial market professionalsLearn more aboutRefinitiv]The logo of the Spanish pharmaceuticals company Grifols is pictured on theirs facilities in Parets del Valles, north of Barcelona, Spain, January 9, 2024. REUTERS/Albert Gea [Purchase Licensing Rights, opens new tab]- Companies[Grifols SA]FollowBARCELONA, Feb 26 (Reuters) - Spanish drugmaker Grifols [(GRLS.MC), opens new tab] repo ...

Service Properties Trust (NasdaqGS:SVC) Q4 2025 Earnings call February 26, 2026 10:00 AM ET Company ParticipantsBrian Donley - Treasurer and CFOChris Bilotto - President and CEOJesse Abair - VPKevin Barry - Senior Director of Investor RelationsConference Call ParticipantsJack Armstrong - Director and Senior Equity AnalystJohn Massocca - Senior Research AnalystTyler Batory - Executive Director and Senior AnalystOperatorGood morning, welcome to the Service Properties Trust Fourth Quarter 2025 Earnings Confere ...