Delek US Holdings, Inc. reports news on its downstream energy operations, including petroleum refining, logistics, pipelines, and renewable fuels. Company updates commonly cover refining performance at facilities in Texas, Arkansas, and Louisiana, quarterly results, dividends, credit and capital-allocation actions, and leadership changes tied to refining operations.
News also includes developments at Delek Logistics Partners, LP, the midstream master limited partnership in which Delek US owns the general partner interest and a majority limited partner interest. Those updates address gathering, pipelines, transportation, storage, wholesale marketing, terminalling, water disposal, recycling, distributions, tax reporting, and Form 10-K availability.
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Delek US Holdings reported a net income of $18.1 million, or $0.24 per share, for Q3 2021, rebounding from a net loss of $(88.1) million in Q3 2020. Adjusted net income stood at $9.9 million, significantly improving from an adjusted net loss of $(99.5) million year-over-year. Adjusted EBITDA was $109.8 million, up from $(11.2) million in the prior year. The refining segment saw a contribution margin increase to $91.4 million, driven by improved operational reliability and higher demand.
Delek Logistics Partners reported a third quarter net income of $43.6 million, down from $46.3 million in 2020. The diluted earnings per unit were $1.00, compared to $1.26 the previous year. Operating cash flow increased to $74.8 million, with distributable cash flow at $55.5 million. EBITDA rose to $69.9 million, up from $67.8 million year-over-year. A quarterly distribution was declared at $0.95 per unit, marking a 1.1% increase from the previous quarter. The company maintained a strong leverage ratio and reported a healthy cash distribution coverage ratio of 1.34x.
Delek Logistics Partners, LP (NYSE: DKL) has announced a quarterly cash distribution of $0.95 per common limited partner unit for Q3 2021, marking a 1.1% increase from Q2 2021 and a 5% increase from Q3 2020. This distribution is set to be payable on November 10, 2021. The company highlighted strong margins and utilization rates as positive industry trends, reinforcing confidence in DKL's financial outlook. Uzi Yemin, CEO, emphasized the stability of the business amid varying economic conditions.
Delek US Holdings (NYSE: DK) announced its third quarter 2021 results release is scheduled for after market close on November 4, 2021. A conference call to discuss these results will occur on November 5, 2021, at 8:00 a.m. CT. Investors can access the live call on DelekUS.com. Concurrently, Delek Logistics Partners (NYSE: DKL) will hold its earnings call on the same day at 7:00 a.m. CT. Both companies focus on energy logistics and refining, essential for understanding their market positions.
Delek Logistics Partners, LP (NYSE: DKL) announced it will release its third quarter 2021 results after market close on November 4, 2021. A conference call to discuss these results is set for 7:00 a.m. CT on November 5, 2021. Investors can access the live broadcast through www.deleklogistics.com, with a replay available online for 90 days. Additionally, Delek US Holdings, Inc. (NYSE: DK) will conduct its quarterly earnings call on the same day, providing information relevant to Delek Logistics.
Stockperks has launched a new initiative to offer shareholder perks for three public companies: SmileDirectClub (SDC), iRobot (IRBT), and Delek US Holdings (DK). This platform aims to enhance engagement between companies and retail investors, allowing these firms to recognize and communicate with their individual investors throughout the year. Agnies Watson, President of Stockperks, emphasized the need for effective investor relations and expressed excitement about this innovative approach. More information about the perks and the Stockperks platform can be found on their official website.
Delek US Holdings (NYSE: DK) will present at the 10th Annual Gateway Conference on September 8, 2021, at 12:30 p.m. Eastern time. The event will be held virtually, with management participating in one-on-one meetings throughout the conference. A live webcast of the presentation will be available for replay. Attendees can request additional information or schedule meetings by contacting conference@gatewayir.com. Delek US operates in petroleum refining, logistics, and retail sectors, with a throughput capacity of 302,000 barrels per day.
Delek US Holdings (NYSE:DK) will present at the 10th Annual Gateway Conference on September 8, 2021, at 12:30 p.m. Eastern time. The presentation will be available via a live webcast and for replay. One-on-one meetings will be held throughout the conference. Delek US is a diversified downstream energy company with significant assets in refining and logistics, including ownership of approximately 80% of Delek Logistics Partners (NYSE:DKL), which focuses on midstream energy infrastructure.
Delek Logistics Partners, LP (NYSE: DKL) reported second-quarter 2021 net income of $43.2 million or $1.00 per diluted unit, down from $44.4 million year-over-year. Net cash from operating activities increased significantly to $85.8 million compared to $37.5 million in Q2 2020. EBITDA rose to $66.8 million, up from $64.8 million. The company announced a cash distribution of $0.94 per unit, a 4.4% increase from Q2 2020. Following a successful $400 million senior notes offering, total debt stands at $928.7 million, enhancing financial flexibility.