Delek Logistics Reports Third Quarter 2026 Results

The higher outlook includes approximately $15 million from 2026 growth projects, while diluted quarterly earnings remained unchanged year over year.

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• Delek Logistics reported net income of $47.4 million or $0.85 per unit, and adjusted EBITDA of $142.9 million
• Completed the construction of the integrated sour gas processing, treating, and handling solution at the Libby complex, successfully achieving first acid gas injection during the quarter
• Raising full-year 2026 adjusted EBITDA guidance to $530 million – $560 million, driven by strong year-to-date operational performance and including $15 million of contribution from 2026 organic growth projects
• On track to deliver an incremental $60 million of adjusted EBITDA in 2027 from the 2026 growth capital program
• Completed successful equity offering allowing for strengthening of balance sheet, decreasing leverage ratio to 3.85x
• Continued our consistent distribution growth with our 55th consecutive quarterly increase to $1.140/unit

BRENTWOOD, Tenn.--(BUSINESS WIRE)-- Delek Logistics Partners, LP (NYSE: DKL) ("Delek Logistics") today announced its financial results for the third quarter 2026.

“Delek Logistics delivered another strong quarter in 2026, underscoring the durability of our integrated crude, gas, and water platform and the growing contribution from third-party cash flows," said Avigal Soreq, President of Delek Logistics’ general partner.

“We have completed the construction of our integrated sour gas system at the Libby Complex and are in the process of commissioning the facilities. With the growing demand for our sour gas treating and acid gas injection capabilities, DKL is increasingly positioned as a differentiated Delaware Basin midstream platform with a clear path to long-term value creation."

“With the confidence in the business, we are increasing our 2026 adjusted EBITDA guidance of $520 to $560 million to $530 to $560 million. In the 2026 guidance we have recognized approximately $15 million of growth related to growth capital spend within the year with an additional $60 million in EBITDA growth expected in 2027 related to this capital spend. This strong adjusted EBITDA growth, coupled with our successful third quarter equity offering and strengthened balance sheet, supports a more diversified cash flow profile and is enabled by disciplined management of liquidity and leverage. As we plan for 2027, we remain focused on executing on growth opportunities and continuing our economic separation and deconsolidation path from our sponsor," Mr. Soreq continued.

Delek Logistics reported third quarter 2026 net income of $47.4 million or $0.85 per diluted common limited partner unit. This compares to net income of $45.6 million, or $0.85 per diluted common limited partner unit, in the third quarter 2025. Net cash provided by operating activities was $187.9 million in the third quarter 2026 compared to $54.9 million in the third quarter 2025. Distributable cash flow, as adjusted was $73.1 million in the third quarter 2026, compared to $74.1 million in the third quarter 2025.

For the third quarter 2026, earnings before interest, taxes, depreciation and amortization ("EBITDA") was $118.5 million compared to $108.5 million in the third quarter 2025. The increase was primarily driven by increased margins in the gathering and processing business. The third quarter 2026 EBITDA included $24.6 million of sales-type lease accounting impacts. For the third quarter 2026, Adjusted EBITDA was $142.9 million compared to $142.5 million in the third quarter 2025.

Distribution and Liquidity

On October 23, 2026, Delek Logistics declared a quarterly cash distribution of $1.140 per common limited partner unit for the third quarter 2026. This distribution will be paid on November 10, 2026 to unitholders of record on November 3, 2026. This represents a 1.8% increase over Delek Logistics’ third quarter 2025 distribution of $1.120 per common limited partner unit.

As of September 30, 2026, Delek Logistics had total debt of approximately $2.1 billion and cash of $49.0 million and a leverage ratio of approximately 3.85x, compared to a leverage ratio of 4.44x as of September 30, 2025. Delek Logistics has full access to and no borrowings from the $1.3 billion third party revolving credit facility.

Consolidated Operating Results

Adjusted EBITDA in the third quarter 2026 was $142.9 million compared to $142.5 million in the third quarter 2025. The $0.4 million increase in Adjusted EBITDA reflects higher margins in the current year.

Gathering and Processing Segment

Adjusted EBITDA in the third quarter 2026 was $88.4 million compared with $82.8 million in the third quarter 2025. The increase was primarily due to increased margins.

Wholesale Marketing and Terminalling Segment

Adjusted EBITDA in the third quarter 2026 was $20.9 million, compared with third quarter 2025 Adjusted EBITDA of $21.4 million. The decrease was primarily due to the termination of the East Texas marketing agreement with our sponsor, Delek US Holdings and a decrease in wholesale margins.

Storage and Transportation Segment

Adjusted EBITDA in the third quarter 2026 was $19.8 million, compared with $19.3 million in the third quarter 2025. The increase was primarily due to increased volume and margins in our trucking operations.

Investments in Pipeline Joint Ventures Segment

During the third quarter 2026, Adjusted EBITDA from equity method investments was $26.5 million compared to $28.4 million in the third quarter 2025. The decrease was primarily due to a decrease in income from our investments in our Red River and other joint ventures, partially offset by an increase in income from W2W.

Corporate

Adjusted EBITDA in the third quarter 2026 was a loss of $12.7 million compared to a loss of $9.3 million in the third quarter 2025.

Third Quarter 2026 Results | Conference Call Information

Delek Logistics will hold a conference call to discuss its third quarter 2026 results on Friday, November 6, 2026 at 11:30 a.m. Central Time. Investors will have the opportunity to listen to the conference call live by going to www.DelekLogistics.com. Participants are encouraged to register at least 15 minutes early to download and install any necessary software. An archived version of the replay will also be available at www.DelekLogistics.com for 90 days.

About Delek Logistics Partners, LP

Delek Logistics is a midstream energy master limited partnership headquartered in Brentwood, Tennessee. Through its owned assets and joint ventures located primarily in and around the Permian Basin, the Delaware Basin and other select areas in the Gulf Coast region, Delek Logistics provides gathering, pipeline and other transportation services primarily for crude oil and natural gas customers, storage, wholesale marketing and terminalling services primarily for intermediate and refined product customers, and water disposal and recycling services. Delek US Holdings, Inc. ("Delek US") owns the general partner interest as well as a majority limited partner interest in Delek Logistics, and is also a significant customer.

Safe Harbor Provisions Regarding Forward-Looking Statements

This press release contains forward-looking statements that are based upon current expectations and involve a number of risks and uncertainties. Statements concerning current estimates, expectations and projections about future results, performance, prospects, opportunities, plans, actions and events and other statements, concerns or matters that are not historical facts are “forward-looking statements,” as that term is defined under the federal securities laws. These statements contain words such as “possible,” “believe,” “should,” “could,” “would,” “predict,” “plan,” “estimate,” “intend,” “may,” “anticipate,” “will,” “if,” “expect” or similar expressions, as well as statements in the future tense. Forward-looking statements include, but are not limited to, anticipated performance and financial position; statements regarding future growth at Delek Logistics; distributions and the amounts and timing thereof; potential dropdown inventory; projected benefits of the Delaware Gathering, Permian Gathering, H2O Midstream and Gravity Water Midstream acquisitions; expected earnings or returns from joint ventures or other acquisitions; expansion projects; ability to create long-term value for our unit holders; financial flexibility and borrowing capacity; and distribution growth.

Investors are cautioned that the following important factors, including among others, may affect these forward-looking statements: the fact that a significant portion of Delek Logistics' revenue is derived from Delek US, thereby subjecting us to Delek US' business risks; political or regulatory developments, including tariffs, taxes and changes in governmental policies relating to crude oil, natural gas, refined products or renewables; risks and costs relating to the age and operational hazards of our assets including, without limitation, costs, penalties, regulatory or legal actions and other effects related to releases, spills and other hazards inherent in transporting and storing crude oil and intermediate and finished petroleum products; Delek Logistics' ability to realize cost reductions; the impact of adverse market conditions affecting the utilization of Delek Logistics' assets and business performance, including margins generated by its wholesale fuel business; risks and uncertainties with respect to the possible benefits of the Delaware Gathering, Permian Gathering, H2O Midstream and Gravity transactions, as well as from integration post-closing; risks related to exposure to Permian Basin crude oil, such as supply, pricing, gathering, production and transportation capacity; uncertainties regarding actions by OPEC and non-OPEC oil producing countries impacting crude oil production and pricing; an inability of Delek US to grow as expected as it relates to our potential future growth opportunities, including dropdowns, and other potential benefits; projected capital expenditures; scheduled turnaround activity; the results of our investments in joint ventures; and other risks as disclosed in our Annual Report on Form 10-K, Quarterly Reports on Form 10-Q and other reports and filings with the United States Securities and Exchange Commission.

Forward-looking statements should not be read as a guarantee of future performance or results and will not be accurate indications of the times at, or by, which such performance or results will be achieved.

Forward-looking information is based on information available at the time and/or management's good faith belief with respect to future events, and is subject to risks and uncertainties that could cause actual performance or results to differ materially from those expressed in the statements. Delek Logistics undertakes no obligation to update or revise any such forward-looking statements to reflect events or circumstances that occur, or which Delek Logistics becomes aware of, after the date hereof, except as required by applicable law or regulation.

Non-GAAP Disclosures

Our management uses certain "non-GAAP" operational measures to evaluate our operating segment performance and non-GAAP financial measures to evaluate past performance and prospects for the future to supplement our financial information presented in accordance with United States ("U.S.") Generally Accepted Accounting Principles ("GAAP"). These financial and operational non-GAAP measures are important factors in assessing our operating results and profitability and include:

• Earnings before interest, taxes, depreciation and amortization ("EBITDA") - calculated as net income before interest, income taxes, depreciation and amortization and proportional interest, taxes, depreciation and amortization of equity method investments.
• Adjusted EBITDA - EBITDA adjusted for throughput and storage fees associated with the lease component of commercial agreements subject to sales-type lease accounting and certain identified infrequently occurring items, non-cash items, and items that are not attributable to or indicative of our on-going operations or that may obscure our underlying results and trends.
• Distributable cash flow - calculated as net cash flow from operating activities adjusted for changes in assets and liabilities, maintenance capital expenditures net of reimbursements, sales-type lease receipts, net of income recognized and other adjustments.
• Distributable cash flow, as adjusted - calculated as distributable cash flow adjusted to exclude significant, infrequently occurring transaction costs.

Our EBITDA, Adjusted EBITDA, distributable cash flow and distributable cash flow, as adjusted, measures are non-GAAP supplemental financial measures that management and external users of our consolidated financial statements, such as industry analysts, investors, lenders and rating agencies, may use to assess:

• Delek Logistics' operating performance as compared to other publicly traded partnerships in the midstream energy industry, without regard to historical cost basis or, in the case of EBITDA and Adjusted EBITDA, financing methods;
• the ability of our assets to generate sufficient cash flow to make distributions to our unitholders on a current and on-going basis;
• Delek Logistics' ability to incur and service debt and fund capital expenditures; and
• the viability of acquisitions and other capital expenditure projects and the returns on investment of various investment opportunities.

We believe that the presentation of these non-GAAP measures provide information useful to investors in assessing our financial condition and results of operations and assists in evaluating our ongoing operating performance and liquidity for current and comparative periods. Non-GAAP measures should not be considered alternatives to net income, operating income, cash flow from operating activities or any other measure of financial performance or liquidity presented in accordance with U.S. GAAP. Non-GAAP measures have important limitations as analytical tools, because they exclude some, but not all, items that affect net earnings, net cash provided by operating activities and operating income. These measures should not be considered substitutes for their most directly comparable U.S. GAAP financial measures. Additionally, because EBITDA, Adjusted EBITDA, distributable cash flow and distributable cash flow, as adjusted may be defined differently by other partnerships in our industry, our definitions may not be comparable to similarly titled measures of other partnerships, thereby diminishing their utility. See the accompanying tables in this earnings release for a reconciliation of these non-GAAP measures to the most directly comparable GAAP measures. However, due to the inherent difficulty and impracticability of estimating certain amounts required by U.S. GAAP with a reasonable degree of certainty at this time without unreasonable effort and imprecision, we have not provided a reconciliation of forward-looking Adjusted EBITDA guidance.

Delek Logistics Partners, LP
Consolidated Balance Sheets (Unaudited)
(In thousands, except unit data)
	September 30, 2026				December 31, 2025
ASSETS
Current assets:
Cash and cash equivalents	$	49,001			$	10,892
Accounts receivable		115,696				114,544
Accounts receivable from related parties		258,701				216,641
Lease receivable - affiliate		39,038				36,362
Inventory		26,615				17,913
Other current assets		5,267				4,416
Total current assets		494,318				400,768
Property, plant and equipment:
Property, plant and equipment		1,990,620				1,827,530
Less: accumulated depreciation		(490,113	)			(403,523	)
Property, plant and equipment, net		1,500,507				1,424,007
Equity method investments		345,941				340,070
Customer relationship intangibles, net		216,373				233,022
Other intangibles, net		148,234				137,439
Goodwill		12,203				12,203
Operating lease right-of-use assets		7,978				11,683
Finance lease right-of-use assets		29,138				27,802
Net investment in leases - affiliate		153,797				185,656
Other non-current assets		13,571				6,618
Total assets	$	2,922,060			$	2,779,268
LIABILITIES AND PARTNERS' (DEFICIT) EQUITY
Current liabilities:
Accounts payable	$	508,529			$	292,908
Interest payable		36,488				30,557
Excise and other taxes payable		17,205				16,569
Current portion of operating lease liabilities		1,834				3,027
Current portion of finance lease liabilities		10,529				8,310
Accrued expenses and other current liabilities		4,604				5,122
Total current liabilities		579,189				356,493
Non-current liabilities:
Long-term debt, net of current portion		2,125,612				2,344,420
Operating lease liabilities, net of current portion		2,125				3,551
Finance lease liabilities, net of current portion		19,910				20,289
Asset retirement obligations		27,270				24,278
Other non-current liabilities		28,351				24,123
Total non-current liabilities		2,203,268				2,416,661
Total liabilities		2,782,457				2,773,154
Partners' (deficit) equity:
Common unitholders - public; 24,302,578 units issued and outstanding at September 30, 2026 (19,643,923 at December 31, 2025)		705,747				510,376
Common unitholders - Delek Holdings; 33,508,831 units issued and outstanding at September 30, 2026, exclusive of 359,372 issued units held by the Partnership in treasury (33,868,203 issued and outstanding at December 31, 2025)		(566,144	)			(504,262	)
Total partners' (deficit) equity		139,603				6,114
Total liabilities and partners' (deficit) equity	$	2,922,060			$	2,779,268

Delek Logistics Partners, LP
Consolidated Statement of Income and Comprehensive Income (Unaudited)
(In thousands, except unit and per unit data)
	Three Months Ended September 30,								Nine Months Ended September 30,
		2026				2025				2026				2025
Net revenues:
Affiliate	$	184,201			$	131,016			$	555,655			$	371,420
Third party		188,242				130,261				499,014				386,137
Net revenues		372,443				261,277				1,054,669				757,557
Cost of sales:
Cost of materials and other - affiliate		116,230				85,486				373,370				259,863
Cost of materials and other - third party		111,261				44,238				261,694				118,274
Operating expenses (excluding depreciation and amortization presented below)		46,414				43,472				135,804				121,627
Depreciation and amortization		38,257				34,128				110,524				86,505
Total cost of sales		312,162				207,324				881,392				586,269
Operating expenses related to wholesale business (excluding depreciation and amortization presented below)		346				381				1,338				1,285
General and administrative expenses		5,853				4,520				13,407				22,328
Depreciation and amortization		237				671				1,876				3,107
Other operating expense (income), net		374				3,013				1,280				(835	)
Total operating costs and expenses		318,972				215,909				899,293				612,154
Operating income		53,471				45,368				155,376				145,403
Non-operating (income) expenses:
Interest income		(23,211	)			(26,716	)			(78,041	)			(72,801	)
Interest expense		49,383				47,991				171,065				130,803
Income from equity method investments		(20,581	)			(21,878	)			(46,695	)			(42,564	)
Other (income) expense, net		23				67				(33	)			26
Total non-operating expenses, net		5,614				(536	)			46,296				15,464
Income before income taxes		47,857				45,904				109,080				129,939
Income tax expense		439				344				439				771
Net income		47,418				45,560				108,641				129,168
Comprehensive income		47,418				45,560			$	108,641			$	129,168
Net income per unit:
Basic	$	0.85			$	0.85			$	2.01			$	2.41
Diluted	$	0.85			$	0.85			$	2.00			$	2.41
Weighted average common units outstanding:
Basic		55,600,366				53,467,306				54,104,363				53,505,419
Diluted		55,676,196				53,519,572				54,194,042				53,540,795

Delek Logistics Partners, LP
Condensed Consolidated Statements of Cash Flows (In thousands)	Three Months Ended September 30,								Nine Months Ended September 30,
(Unaudited)		2026				2025				2026				2025
Cash flows from operating activities
Net cash provided by operating activities	$	187,948			$	54,937			$	429,522			$	193,910
Cash flows from investing activities
Net cash used in investing activities		(61,781	)			(63,978	)			(170,872	)			(411,661	)
Cash flows from financing activities
Net cash (used in) provided by financing activities		(90,871	)			14,517				(220,541	)			219,279
Net increase in cash and cash equivalents		35,296				5,476				38,109				1,528
Cash and cash equivalents at the beginning of the period		13,705				1,436				10,892				5,384
Cash and cash equivalents at the end of the period	$	49,001			$	6,912			$	49,001			$	6,912

Significant Transactions During the Quarter Impacting Results:

Intercompany Leases

As a result of amendments to intercompany lease agreements in August 2024, we had to reassess lease classification for the agreements that contain leases under Accounting Standards Codification 842. As a result of these lease assessments, certain of these agreements met the criteria to be accounted for as sales-type leases for Delek Logistics and finance leases for Delek US. Therefore, portions of the minimum volume commitments under these agreements subject to sales-type lease accounting are recorded as interest income with the remaining amounts recorded as a reduction in net investment in leases. Prior to the amendments, these agreements were accounted for as operating leases and these minimum volume commitments were recorded as revenues.

Equity Offering

On August 14, 2026 Delek Logistics completed an underwritten offering of 4,600,000 common units representing limited interests in Delek Logistics at a price of $50 per unit. Net proceeds of the offering were used to repay outstanding borrowings under the Delek Logistics Revolving Facility.

Delek Logistics Partners, LP
Reconciliation of Amounts Reported Under U.S. GAAP (Unaudited)
(In thousands)
	Three Months Ended September 30,								Nine Months Ended September 30,
		2026				2025				2026				2025
Reconciliation of Net Income to EBITDA:
Net income	$	47,418			$	45,560			$	108,641			$	129,168
Add:
Income tax expense		439				344				439				771
Depreciation and amortization		38,494				34,799				112,400				89,612
Proportional interest, taxes, depreciation and amortization from equity-method investments		5,960				6,527				18,875				19,882
Interest expense, net		26,172				21,275				93,024				58,002
EBITDA		118,483				108,505				333,379				297,435
Asset Impairment		—				2,802				—				2,802
Throughput and storage fees for sales-type leases		24,596				30,535				84,010				85,647
DPG Inventory Impact		(136	)			100				129				1,000
Transaction costs		85				563				1,384				6,408
Unrealized inventory/commodity hedging (gain) loss where the hedged item is not yet recognized in the financial statements	$	(90	)		$	—				(219	)			—
Adjusted EBITDA	$	142,938			$	142,505			$	418,683			$	393,292
Reconciliation of net cash from operating activities to distributable cash flow:
Net cash provided by operating activities	$	187,948			$	54,937			$	429,522			$	193,910
Changes in assets and liabilities		(108,354	)			20,563				(187,842	)			15,041
Non-cash lease expense		(757	)			(1,426	)			(3,605	)			(5,045	)
Net distributions from equity method investments in investing activities		266				6,598				8,355				12,168
Regulatory and sustaining capital expenditures not distributable		(6,808	)			(5,600	)			(20,436	)			(10,843	)
Reimbursement from Delek Holdings for capital expenditures		10				9				32				28
Sales-type lease receipts, net of income recognized		1,385				(590	)			5,969				8,437
Other non-cash adjustments		(693	)			(907	)			(396	)			1,631
Distributable Cash Flow		72,997				73,584				231,599				215,327
Transaction costs		85				563				1,384				6,408
Distributable Cash Flow, as adjusted (1)	$	73,082			$	74,147			$	232,983			$	221,735
(1) Distributable cash flow adjusted to exclude transaction costs primarily associated with the H2O Midstream Acquisition and Gravity Acquisition.

Delek Logistics Partners, LP
Distributable Coverage Ratio Calculation (Unaudited)
(In thousands)
	Three Months Ended September 30,						Nine Months Ended September 30,
	2026			2025			2026			2025
Distributions to partners of Delek Logistics, LP	$	65,905		$	59,898		$	186,364		$	178,830
Distributable cash flow	$	72,997		$	73,584		$	231,599		$	215,327
Distributable cash flow coverage ratio (1)	1.11x			1.23x			1.24x			1.20x
Distributable cash flow, as adjusted		73,082			74,147		$	232,983		$	221,735
Distributable cash flow coverage ratio, as adjusted (2)	1.11x			1.24x			1.25x			1.24x
(1) Distributable cash flow coverage ratio is calculated by dividing distributable cash flow by distributions to be paid in each respective period.
(2) Distributable cash flow coverage ratio, as adjusted is calculated by dividing distributable cash flow, as adjusted for transaction costs by distributions to be paid in each respective period.

Delek Logistics Partners, LP Segment Data (Unaudited) (In thousands)
		Three Months Ended September 30, 2026
		Gathering and Processing				Wholesale Marketing and Terminalling				Storage and Transportation				Investments in Pipeline Joint Ventures			Corporate and Other				Consolidated
Net revenues:
Affiliate		$	63,891			$	94,099			$	26,211			$	—		$	—			$	184,201
Third party			140,014				47,019				1,209				—			—				188,242
Total revenue		$	203,905			$	141,118			$	27,420			$	—		$	—			$	372,443
Adjusted EBITDA		$	88,422			$	20,915			$	19,798			$	26,541		$	(12,738	)		$	142,938
Transaction costs			—				—				—				—			85				85
DPG Inventory Impact			(136	)			—				—				—			—				(136	)
Unrealized inventory/commodity hedging (gain) loss where the hedged item is not yet recognized in the financial statements			(90	)			—				—				—			—				(90	)
Throughput and storage fees for sales-type leases			11,053				4,021				9,522				—			—				24,596
Segment EBITDA		$	77,595			$	16,894			$	10,276			$	26,541		$	(12,823	)			118,483
Depreciation and amortization		$	35,221			$	507			$	1,992			$	—		$	774				38,494
Proportional interest, taxes, depreciation and amortization from equity-method investments		$	—			$	—			$	—			$	5,960		$	—				5,960
Interest income		$	(9,827	)		$	(4,148	)		$	(9,236	)		$	—		$	—				(23,211	)
Interest expense		$	—			$	—			$	—			$	—		$	49,383				49,383
Income tax expense																						439
Net income																					$	47,418

		Nine Months Ended September 30, 2026
		Gathering and Processing				Wholesale Marketing and Terminalling				Storage and Transportation				Investments in Pipeline Joint Ventures			Corporate and Other				Consolidated
Net revenues:
Affiliate		$	176,274			$	303,878			$	75,503			$	—		$	—			$	555,655
Third party			377,446				117,764				3,804				—			—				499,014
Total revenue		$	553,720			$	421,642			$	79,307			$	—		$	—			$	1,054,669
Adjusted EBITDA		$	275,408			$	47,781			$	61,240			$	65,570		$	(31,316	)		$	418,683
Transaction costs			—				—				—				—			1,384				1,384
DPG Inventory Impact			129				—				—				—			—				129
Unrealized inventory/commodity hedging (gain) loss where the hedged item is not yet recognized in the financial statements			(219	)			—				—				—			—				(219	)
Throughput and storage fees for sales-type leases			33,897				12,515				37,598				—			—				84,010
Segment EBITDA		$	241,601			$	35,266			$	23,642			$	65,570		$	(32,700	)			333,379
Depreciation and amortization			102,332				2,037				5,717				—			2,314				112,400
Proportional interest, taxes, depreciation and amortization from equity-method investments			—				—				—				18,875			—				18,875
Interest income			(29,989	)			(12,254	)			(35,798	)			—			—				(78,041	)
Interest expense			—				—				—				—			171,065				171,065
Income tax expense																						439
Net income																					$	108,641

		Three Months Ended September 30, 2025
		Gathering and Processing				Wholesale Marketing and Terminalling				Storage and Transportation				Investments in Pipeline Joint Ventures				Corporate and Other				Consolidated
Net revenues:
Affiliate		$	51,165			$	56,816			$	23,035			$	—			$	—			$	131,016
Third party			81,044				47,925				1,292				—				—				130,261
Total revenue		$	132,209			$	104,741			$	24,327			$	—			$	—			$	261,277
Adjusted EBITDA		$	82,787			$	21,374			$	19,280			$	28,405			$	(9,341	)		$	142,505
Transaction costs			—				—				—				—				563				563
DPG Inventory Impact			100				—				—				—				—				100
Throughput and storage fees not included in revenue			13,136				4,369				13,030				—				—				30,535
Segment EBITDA		$	69,551			$	14,203			$	6,250			$	28,405			$	(9,904	)			108,505
Depreciation and amortization		$	31,801			$	811			$	1,411			$	—			$	776				34,799
Proportional interest, taxes, depreciation and amortization from equity-method investments		$	—			$	—			$	—			$	6,527			$	—				6,527
Interest income			(10,818	)			(3,970	)			(11,928	)			—				—				(26,716	)
Interest expense		$	—			$	—			$	—			$	—			$	47,991				47,991
Income tax expense																							344
Net income																						$	45,560

		Nine Months Ended September 30, 2025
		Gathering and Processing				Wholesale Marketing and Terminalling				Storage and Transportation				Investments in Pipeline Joint Ventures			Corporate and Other				Consolidated
Net revenues:
Affiliate		$	128,830			$	173,891			$	68,699			$	—		$	—			$	371,420
Third party			239,749				142,164				4,224				—			—				386,137
Total revenue		$	368,579			$	316,055			$	72,923			$	—		$	—			$	757,557
Adjusted EBITDA		$	241,846			$	62,431			$	50,679			$	62,446		$	(24,110	)		$	393,292
Transaction costs			—				—				—				—			6,408				6,408
DPG Inventory Impact			1,000				—				—				—			—				1,000
Throughput and storage fees not included in revenue			39,409				13,250				32,988				—			—				85,647
Segment EBITDA		$	201,437			$	46,379			$	17,691			$	62,446		$	(30,518	)			297,435
Depreciation and amortization		$	80,609			$	2,715			$	3,993			$	—		$	2,295				89,612
Proportional interest, taxes, depreciation and amortization from equity-method investments		$	—			$	—			$	—			$	19,882		$	—				19,882
Interest income			(33,296	)			(12,240	)			(27,265	)			—			—				(72,801	)
Interest expense		$	—			$	—			$	—			$	—		$	130,803				130,803
Income tax expense																						771
Net income																					$	129,168

Delek Logistics Partners, LP
Segment Capital Spending
(In thousands)
	Three Months Ended September 30,						Nine Months Ended September 30, 2026
Gathering and Processing	2026			2025			2026			2025
Regulatory capital spending	$	341		$	286		$	3,216		$	286
Sustaining capital spending		2,201			3,282			11,803			5,922
Growth capital spending		37,073			44,026			133,738			229,915
Segment capital spending		39,615			47,594			148,757			236,123
Wholesale Marketing and Terminalling
Regulatory capital spending		10			174			84			185
Sustaining capital spending		1,881			473			1,961			617
Growth capital spending		2,741			—			3,148			—
Segment capital spending		4,632			647			5,193			802
Storage and Transportation
Regulatory capital spending		845			325			858			1,345
Sustaining capital spending		1,531			1,060			2,514			2,488
Growth capital spending		7,928			4			7,928			4
Segment capital spending		10,304			1,389			11,300			3,837
Consolidated
Regulatory capital spending		1,196			785			4,158			1,816
Sustaining capital spending		5,613			4,815			16,278			9,027
Growth capital spending		47,742			44,030			144,814			229,919
Total capital spending	$	54,551		$	49,630		$	165,250		$	240,762

Delek Logistics Partners, LP
Segment Operating Data (Unaudited)
	Three Months Ended September 30,						Nine Months Ended September 30,
	2026			2025			2026			2025
Gathering and Processing Segment:
Throughputs (average bpd)
El Dorado Assets:
Crude pipelines (non-gathered)		70,109			71,802			68,756			68,340
Refined products pipelines to Enterprise Systems		52,240			59,679			49,680			56,442
El Dorado Gathering System		9,371			9,053			9,447			9,781
East Texas Crude Logistics System		31,471			31,317			31,020			30,462
Midland Gathering System		205,606			222,980			211,209			213,750
Plains Connection System		160,339			185,151			182,935			174,446
Delaware Gathering Assets:
Natural Gas Gathering and Processing (Mcfd(1))		93,777			62,692			79,574			61,157
Crude Oil Gathering (average bpd)		150,814			153,745			145,885			137,828
Water Disposal and Recycling (average bpd)		108,299			87,176			108,279			110,575
Midland Water Gathering System:
Water Disposal and Recycling (average bpd) (3)		512,436			573,028			599,854			620,910
Wholesale Marketing and Terminalling Segment:
East Texas - Tyler Refinery sales volumes (average bpd) (2)		—			67,439			—			67,609
West Texas marketing throughputs (average bpd)		3,117			2,680			6,328			8,058
West Texas gross margin per barrel	$	9.99		$	4.50		$	5.41		$	3.41
Terminalling throughputs (average bpd) (4)		158,907			145,808			151,423			144,629
(1) Mcfd - average thousand cubic feet per day.
(2) East Texas Marketing agreement was terminated on January 1, 2026.
(3) Includes freshwater sales of 15,196 bpd and 84,273 bpd for the three and nine months ended September 30, 2026, respectively, and 692 bpd and 9,314 bpd for the three and nine months ended September 30, 2025, respectively.
(4) Consists of terminalling throughputs at our Tyler, Big Spring, Big Sandy and Mount Pleasant, Texas terminals, our El Dorado and North Little Rock, Arkansas terminals and our Memphis and Nashville, Tennessee terminals.

 

View source version on businesswire.com: https://www.businesswire.com/news/home/20261106755738/en/

Investor Relations and Media/Public Affairs Contact:
investor.relations@delekus.com

Information about Delek Logistics Partners, LP can be found on its website (www.deleklogistics.com), investor relations webpage (https://www.deleklogistics.com/investor-relations), news webpage (https://ir.deleklogistics.com/news/default.aspx) and its X account (@DelekLogistics).

Source: Delek Logistics Partners, LP

Key Terms

adjusted EBITDA financial

Adjusted EBITDA is a way companies measure how much money they make from their core operations, like running a business, by removing certain costs or income that aren’t part of regular business activities. It helps investors see how well a company is doing without distractions from unusual expenses or gains, making it easier to compare companies or track performance over time.

sales-type lease financial

A sales-type lease is a contract where the party that owns an asset (the lessor) effectively sells it to a customer but keeps the right to receive lease payments, recording the transaction as a sale up front and then recognizing interest income over time. Think of it like a store that sells you a car on finance: the store books the sale immediately but still collects payments and interest, so profits and the asset’s removal from the balance sheet occur sooner. For investors this changes when revenue and profit show up, alters reported assets and liabilities, and affects measures like return on equity and cash flow timing.

equity method investments financial

An equity method investment is an accounting approach used when a company owns a significant share of another company and can influence its decisions but does not fully control it; instead of listing the investment at cost, the investor records its share of the other company's profits or losses on its own income statement and adjusts the investment value on the balance sheet. For investors, this matters because it links the investor’s reported earnings and asset values directly to the financial performance of that partly-owned business, similar to how a partner’s gains affect a small business owner’s books.