Delek Logistics Partners Lp Stock Price, News & Analysis

Delek Logistics Partners, LP (NYSE: DKL) announced it will release its second quarter 2022 results on August 4, 2022, before market opening. A conference call to discuss the results is set for 9:00 a.m. CT on the same day. Investors can access the call live via DelekLogistics.com, where a replay will be available for 90 days. The release will relate to Delek US Holdings, Inc. (NYSE: DK) earnings call scheduled for 10:00 a.m. CT on August 4, 2022, providing insights relevant to Delek Logistics.

Delek Logistics Partners, LP (NYSE: DKL) has completed the acquisition of 3Bear Delaware Holding for $624.7 million, enhancing its operations in the Delaware Basin, New Mexico. The transaction is projected to yield an investment multiple of approximately 6.25 times the forecasted 2023 EBITDA. The acquisition includes significant infrastructure, such as 485 miles of pipelines and various processing capacities, positioning DKL for growth in natural gas and water services. The firm anticipates increased third-party revenue and the ability to maintain a 5% distribution growth target for 2022.

Delek Logistics Partners reported first quarter net income of $39.5 million, a 9% increase year-over-year. EBITDA rose to $66.0 million, up 12% year-over-year. The company declared a quarterly distribution of $0.98 per unit, reflecting a 6.5% increase from last year. A planned acquisition of 3Bear will enhance scale and revenue diversity, while strong activity in the Permian Gathering business is expected to boost volumes. The distributable cash flow coverage ratio stood at 1.21x with a leverage ratio of 3.3x.

Delek Logistics Partners, LP (NYSE: DKL) announced a quarterly cash distribution of $0.98 per common limited partner unit for Q1 2022, up 0.5% from Q4 2021 and 6.5% from Q1 2021. This marks the 37th consecutive quarter of increasing distributions. The distribution will be payable on May 12, 2022, to unitholders of record on May 5, 2022. The company also highlighted strong industry momentum due to elevated commodity prices and increased demand in its Permian Gathering System, along with a planned acquisition that is expected to boost cash flow ratios.

Delek US Holdings (NYSE: DK) plans to release its first quarter 2022 results on May 3, 2022, before the U.S. market opens. A conference call to discuss these results will occur at 11:00 a.m. CT (12:00 p.m. ET) on the same day. Investors can access the live broadcast via www.DelekUS.com. Additionally, Delek Logistics Partners (NYSE: DKL) will hold its earnings call earlier on May 3, 2022, at 9:30 a.m. CT (10:30 a.m. ET), providing insights relevant to Delek US's logistics segment.

Delek Logistics Partners, LP (NYSE: DKL) plans to release its first quarter 2022 results on May 3, 2022, before market opening. A conference call to discuss the results will take place at 9:30 a.m. CT (10:30 a.m. ET) on the same day. The call will be streamed live on DelekLogistics.com, with a replay available for 90 days. Additionally, Delek US Holdings, Inc. (NYSE: DK) will hold its earnings call at 11:00 a.m. CT on May 3, 2022, providing insights relevant to Delek Logistics.

Delek Logistics Partners (NYSE: DKL) has entered into a definitive agreement to acquire 100% of the equity interests in 3Bear Delaware Holding – NM, LLC for $624.7 million. The acquisition encompasses 3Bear's crude oil and gas gathering, processing, and transportation operations in New Mexico's Delaware Basin. 3Bear manages a robust asset portfolio with significant pipeline and processing capacities. This strategic move is expected to enhance revenue, diversify product offerings, and support cash flow growth. The transaction is anticipated to close mid-2022, subject to regulatory approval.

Delek Logistics Partners, LP (NYSE: DKL) has announced that the 2021 K-1 tax packages are now available for unit holders on its website. The packages can be accessed by selecting the Tax Information link. Additionally, the company is currently in the process of printing and mailing these tax packages. Unit holders can direct any inquiries regarding the tax packages to a dedicated helpline or via email. Delek Logistics, based in Brentwood, Tennessee, focuses on owning and operating crude oil and refined product logistics and marketing assets.

Delek Logistics Partners, LP (NYSE: DKL) announced the filing of its Annual Report on Form 10-K for the fiscal year ended December 31, 2021, with the U.S. Securities and Exchange Commission on February 25, 2022. The report is accessible on their website under the "SEC Filings" section. Limited partners can request a free printed copy of the report, which includes audited financial statements, by writing to Investor Relations at Delek’s Brentwood, TN office.