NYSE:DKL Delek Logistics Partners Q2 2023 Earnings Report $38.60 +0.37 (+0.97%) Closing price 04/25/2025 03:59 PM EasternExtended Trading$38.68 +0.08 (+0.21%) As of 04/25/2025 07:41 PM Eastern Extended trading is trading that happens on electronic markets outside of regular trading hours. This is a fair market value extended hours price provided by Polygon.io. Learn more. Earnings HistoryForecast Delek Logistics Partners EPS ResultsActual EPS$0.73Consensus EPS $0.81Beat/MissMissed by -$0.08One Year Ago EPS$0.74Delek Logistics Partners Revenue ResultsActual Revenue$246.91 millionExpected Revenue$281.25 millionBeat/MissMissed by -$34.34 millionYoY Revenue GrowthN/ADelek Logistics Partners Announcement DetailsQuarterQ2 2023Date8/7/2023TimeBefore Market OpensConference Call DateMonday, August 7, 2023Conference Call Time12:30PM ETUpcoming EarningsDelek Logistics Partners' Q1 2025 earnings is scheduled for Wednesday, May 7, 2025, with a conference call scheduled at 12:30 PM ET. Check back for transcripts, audio, and key financial metrics as they become available.Q1 2025 Earnings ReportConference Call ResourcesConference Call AudioConference Call TranscriptPress Release (8-K)Quarterly Report (10-Q)SEC FilingEarnings HistoryCompany ProfilePowered by Delek Logistics Partners Q2 2023 Earnings Call TranscriptProvided by QuartrAugust 7, 2023 ShareLink copied to clipboard.There are 4 speakers on the call. Operator00:00:00Good day, and welcome to the Delek Logistics Partners Second Quarter Earnings Conference Call. All participants will be in listen only mode. Please note this event is being recorded. I would now like to turn the conference over to Rosie Zuklic, Vice President of Investor Relations. Please go ahead. Speaker 100:00:53Welcome to the Dallas Logistics Partners' 2nd Quarter Earnings Conference Call. Participants on today's call will include Avigal Sorek, President Joseph Israel, EVP, Operations Ruben Spiegel, EVP and Chief Financial Officer and Odeli Sakhazi, SVP, Delek Logistics. As a reminder, this conference call will contain forward looking statements as defined under the federal securities laws, including without limitation, statements regarding guidance and future business outlook. These statements involve risks and uncertainties that may cause actual results to differ from our forecast. For more information, please refer to the risk factors discussed in the company's most recently filed annual report on the Form 10 ks and quarterly report on Form 10 Q filed with the SEC along with the press release associated with this call. Speaker 100:01:46The company assumes no obligation to update any forward looking statements or information, which speaks as of their respective dates. I'll now turn the call over to Abhagal for opening remarks. Speaker 200:02:00Thanks, Rosy. Delek Logistics Partners delivered another great quarter with $93,000,000 of EBITDA. Delek Logistics has been able to provide consistent And stable cash flow. We are encouraged by our positive outlook. As the production in the Permian Basin ramps up, We continue on our promising growth path with increased scale and efficiency. Speaker 200:02:27We are proud to say that our acreage It's outperformed average growth in the basin. The Midland Gathering System volumes have more than doubled from a year ago, and We are excited to identify more value add opportunities with our producers. Our Delaware gathering assets are performing well and meeting our expectations. We now expect to exceed $100,000,000 a quarter EBITDA run rate by Q4 of this year. On July 26, our Board of Directors approved 5.1% increase in the quarterly distribution from the prior year to $1.035 per limited partner unit for the Q2 of 2023. Speaker 200:03:19We are committed to continuing increasing the quarterly distribution. I will now hand it over to Ruben. Speaker 300:03:27Thank you, Abigail. Total EBITDA for logistics was $93,000,000 for the Q2 of 2023 compared with $65,000,000 for the same period in 20 22. For the Q2 of 2023, distributable cash flow was $60,000,000 and the DCF coverage ratio was 1.34. For the Gathering and Processing segment, EBITDA this quarter was $53,000,000 compared with $38,000,000 in the Q2 of 2022. The increase was primarily driven from strong contributions by the Midland Gathering System as well as Delaware Gathering. Speaker 300:04:00Group for the Midland Gathering averaged approximately 222,000 barrels per day for the Q2 of 2023, more than twice the average 100,000 barrels The wholesale and marketing and terminalling segment EBITDA of $28,000,000 for the quarter compared with $19,000,000 in the Q2 of 2022. The increase was due to higher terminalling throughput in East Texas and higher gross margin in our West Texas operation. The Storage and Transportation segment had EBITDA of $15,000,000 this quarter, which is in line with the last year results. And lastly, the investment in ByPlan joint venture segment contributed $7,000,000 toward the Q2 of 2023, flat with the Q2 of 20 22. Moving on to capital expenditures. Speaker 300:04:472nd quarter of 2023 capital spending was $19,000,000 Most of that spend was for growth projects, namely advancing new connections In the Delaware and Midland Gathering Systems. For 2023, we maintain with our capital outlook of $81,000,000 With that, we can open the call for questions. Operator00:05:47Since we have no questions at this time, we will Turn the conference over back to Avigal Sorek for any closing remarks. Speaker 200:06:00So I want to thank the executive around the table, to our employees, to the Board of Directors and to you, investor, for another great quarter of DKL. We are very much committed to the path we are at. We see a sustainable growth, and we are committed to Run the course and we'll talk again in the next quarter. Thank you. Operator00:06:27And this ends the conference today. Thank you for attending today's presentation. You may nowRead morePowered by Conference Call Audio Live Call not available Earnings Conference CallDelek Logistics Partners Q2 202300:00 / 00:00Speed:1x1.25x1.5x2x Earnings DocumentsPress Release(8-K)Quarterly report(10-Q) Delek Logistics Partners Earnings HeadlinesHead to Head Contrast: Delek Logistics Partners (NYSE:DKL) versus South Bow (NYSE:SOBO)April 26 at 1:45 AM | americanbankingnews.comAnalyzing Delek Logistics Partners (NYSE:DKL) & South Bow (NYSE:SOBO)April 24 at 2:06 AM | americanbankingnews.comIs he more powerful than Trump? Is there anybody more powerful than Donald Trump right now? In a single tariff announcement, he wiped out nearly $5 trillion in wealth from the S&P 500 and $6.4 trillion from the Dow Jones… Not to mention the countless trillions of dollars lost in every market around the world… leaving the major political powers scrambling in fear of Trump’s next move.April 26, 2025 | Porter & Company (Ad)DKL Units: Could 11%-Yielding Stock Have 30% Upside Potential?April 17, 2025 | incomeinvestors.comDelek Logistics Partners, LP to Host First Quarter 2025 Conference Call on May 7th | DKL Stock NewsApril 15, 2025 | gurufocus.comDelek Logistics: 10% Dividend With Growth PotentialMarch 24, 2025 | seekingalpha.comSee More Delek Logistics Partners Headlines Get Earnings Announcements in your inboxWant to stay updated on the latest earnings announcements and upcoming reports for companies like Delek Logistics Partners? Sign up for Earnings360's daily newsletter to receive timely earnings updates on Delek Logistics Partners and other key companies, straight to your email. Email Address About Delek Logistics PartnersDelek Logistics Partners (NYSE:DKL) provides gathering, pipeline, transportation, and other services for crude oil, intermediates, refined products, natural gas, storage, wholesale marketing, terminalling water disposal and recycling customers in the United States. The Gathering and Processing segment consists of pipelines, tanks, and offloading facilities that provide crude oil and natural gas gathering and processing, water disposal and recycling, and storage services, as well as crude oil transportation services to third parties. The Wholesale Marketing and Terminalling segment includes refined products terminals and pipelines in Texas, Tennessee, and Arkansas. This segment provides marketing services for the refined products and terminalling services at refined products terminals to independent third parties. The Storage and Transportation segment comprises tanks, offloading facilities, trucks, and ancillary assets, which provide crude oil, intermediate, and refined products transportation and storage services. Delek Logistics GP, LLC serves as the general partner of the company. Delek Logistics Partners, LP was incorporated in 2012 and is headquartered in Brentwood, Tennessee. Delek Logistics Partners, LP operates as a subsidiary of Delek US Holdings, Inc.View Delek Logistics Partners ProfileRead more More Earnings Resources from MarketBeat Earnings Tools Today's Earnings Tomorrow's Earnings Next Week's Earnings Upcoming Earnings Calls Earnings Newsletter Earnings Call Transcripts Earnings Beats & Misses Corporate Guidance Earnings Screener Earnings By Country U.S. Earnings Reports Canadian Earnings Reports U.K. Earnings Reports Latest Articles Markets Think Robinhood Earnings Could Send the Stock UpIs the Floor in for Lam Research After Bullish Earnings?Market Anticipation Builds: Joby Stock Climbs Ahead of EarningsIs Intuitive Surgical a Buy After Volatile Reaction to Earnings?Seismic Shift at Intel: Massive Layoffs Precede Crucial EarningsRocket Lab Lands New Contract, Builds Momentum Ahead of EarningsAmazon's Earnings Could Fuel a Rapid Breakout Upcoming Earnings Cadence Design Systems (4/28/2025)Welltower (4/28/2025)Waste Management (4/28/2025)AstraZeneca (4/29/2025)Mondelez International (4/29/2025)PayPal (4/29/2025)Starbucks (4/29/2025)DoorDash (4/29/2025)Honeywell International (4/29/2025)Regeneron Pharmaceuticals (4/29/2025) Get 30 Days of MarketBeat All Access for Free Sign up for MarketBeat All Access to gain access to MarketBeat's full suite of research tools. Start Your 30-Day Trial MarketBeat All Access Features Best-in-Class Portfolio Monitoring Get personalized stock ideas. Compare portfolio to indices. Check stock news, ratings, SEC filings, and more. Stock Ideas and Recommendations See daily stock ideas from top analysts. Receive short-term trading ideas from MarketBeat. Identify trending stocks on social media. Advanced Stock Screeners and Research Tools Use our seven stock screeners to find suitable stocks. Stay informed with MarketBeat's real-time news. Export data to Excel for personal analysis. Sign in to your free account to enjoy these benefits In-depth profiles and analysis for 20,000 public companies. Real-time analyst ratings, insider transactions, earnings data, and more. Our daily ratings and market update email newsletter. Sign in to your free account to enjoy all that MarketBeat has to offer. Sign In Create Account Your Email Address: Email Address Required Your Password: Password Required Log In or Sign in with Facebook Sign in with Google Forgot your password? Your Email Address: Please enter your email address. Please enter a valid email address Choose a Password: Please enter your password. Your password must be at least 8 characters long and contain at least 1 number, 1 letter, and 1 special character. Create My Account (Free) or Sign in with Facebook Sign in with Google By creating a free account, you agree to our terms of service. This site is protected by reCAPTCHA and the Google Privacy Policy and Terms of Service apply.
There are 4 speakers on the call. Operator00:00:00Good day, and welcome to the Delek Logistics Partners Second Quarter Earnings Conference Call. All participants will be in listen only mode. Please note this event is being recorded. I would now like to turn the conference over to Rosie Zuklic, Vice President of Investor Relations. Please go ahead. Speaker 100:00:53Welcome to the Dallas Logistics Partners' 2nd Quarter Earnings Conference Call. Participants on today's call will include Avigal Sorek, President Joseph Israel, EVP, Operations Ruben Spiegel, EVP and Chief Financial Officer and Odeli Sakhazi, SVP, Delek Logistics. As a reminder, this conference call will contain forward looking statements as defined under the federal securities laws, including without limitation, statements regarding guidance and future business outlook. These statements involve risks and uncertainties that may cause actual results to differ from our forecast. For more information, please refer to the risk factors discussed in the company's most recently filed annual report on the Form 10 ks and quarterly report on Form 10 Q filed with the SEC along with the press release associated with this call. Speaker 100:01:46The company assumes no obligation to update any forward looking statements or information, which speaks as of their respective dates. I'll now turn the call over to Abhagal for opening remarks. Speaker 200:02:00Thanks, Rosy. Delek Logistics Partners delivered another great quarter with $93,000,000 of EBITDA. Delek Logistics has been able to provide consistent And stable cash flow. We are encouraged by our positive outlook. As the production in the Permian Basin ramps up, We continue on our promising growth path with increased scale and efficiency. Speaker 200:02:27We are proud to say that our acreage It's outperformed average growth in the basin. The Midland Gathering System volumes have more than doubled from a year ago, and We are excited to identify more value add opportunities with our producers. Our Delaware gathering assets are performing well and meeting our expectations. We now expect to exceed $100,000,000 a quarter EBITDA run rate by Q4 of this year. On July 26, our Board of Directors approved 5.1% increase in the quarterly distribution from the prior year to $1.035 per limited partner unit for the Q2 of 2023. Speaker 200:03:19We are committed to continuing increasing the quarterly distribution. I will now hand it over to Ruben. Speaker 300:03:27Thank you, Abigail. Total EBITDA for logistics was $93,000,000 for the Q2 of 2023 compared with $65,000,000 for the same period in 20 22. For the Q2 of 2023, distributable cash flow was $60,000,000 and the DCF coverage ratio was 1.34. For the Gathering and Processing segment, EBITDA this quarter was $53,000,000 compared with $38,000,000 in the Q2 of 2022. The increase was primarily driven from strong contributions by the Midland Gathering System as well as Delaware Gathering. Speaker 300:04:00Group for the Midland Gathering averaged approximately 222,000 barrels per day for the Q2 of 2023, more than twice the average 100,000 barrels The wholesale and marketing and terminalling segment EBITDA of $28,000,000 for the quarter compared with $19,000,000 in the Q2 of 2022. The increase was due to higher terminalling throughput in East Texas and higher gross margin in our West Texas operation. The Storage and Transportation segment had EBITDA of $15,000,000 this quarter, which is in line with the last year results. And lastly, the investment in ByPlan joint venture segment contributed $7,000,000 toward the Q2 of 2023, flat with the Q2 of 20 22. Moving on to capital expenditures. Speaker 300:04:472nd quarter of 2023 capital spending was $19,000,000 Most of that spend was for growth projects, namely advancing new connections In the Delaware and Midland Gathering Systems. For 2023, we maintain with our capital outlook of $81,000,000 With that, we can open the call for questions. Operator00:05:47Since we have no questions at this time, we will Turn the conference over back to Avigal Sorek for any closing remarks. Speaker 200:06:00So I want to thank the executive around the table, to our employees, to the Board of Directors and to you, investor, for another great quarter of DKL. We are very much committed to the path we are at. We see a sustainable growth, and we are committed to Run the course and we'll talk again in the next quarter. Thank you. Operator00:06:27And this ends the conference today. Thank you for attending today's presentation. You may nowRead morePowered by