Welcome to our dedicated page for Delek Logistics Partners Lp news (Ticker: DKL), a resource for investors and traders seeking the latest updates and insights on Delek Logistics Partners Lp stock.
Delek Logistics Partners, LP reports news on a midstream energy master limited partnership that owns assets and participates in joint ventures in the Permian Basin, Delaware Basin and Gulf Coast region. Its updates center on gathering, pipeline and transportation services for crude oil and natural gas customers; storage, wholesale marketing and terminalling for intermediate and refined products; and water disposal and recycling services.
Recurring developments include quarterly operating results, cash distributions on common limited partner units, senior note and credit-facility activity, and project updates tied to sour gas processing, treating and handling at the Libby Gas Complex. Company news also reflects its relationship with Delek US Holdings, which owns the general partner interest and a majority limited partner interest and is a significant customer.
Delek Logistics Partners, LP (NYSE: DKL) announced plans to release its fourth quarter 2022 results on February 28, 2023, before the U.S. stock market opens. A conference call to discuss these results will follow at 3:30 p.m. CT (4:30 p.m. ET) on the same day. Investors can access the live broadcast through the company’s website, with an online replay available for 90 days.
Headquartered in Brentwood, Tennessee, Delek Logistics operates primarily in the midstream energy sector, providing services such as gathering, pipeline transportation, and storage, particularly in the Permian Basin, Delaware Basin, and Gulf Coast regions.
Delek Logistics Partners, LP announced plans to issue a press release on its fourth quarter 2022 results before the market opens on February 28, 2023. A conference call to discuss the results will take place at 3:30 p.m. CT (4:30 p.m. ET) on the same day. Investors can access the live broadcast through the company’s website, with a replay available for 90 days. Based in Brentwood, Tennessee, Delek Logistics is involved in gathering, pipeline, and transportation services primarily for crude oil and natural gas customers. The company is linked to Delek US Holdings, which owns its general partner interest.
Delek Logistics Partners has announced a quarterly cash distribution of $1.02 per common limited partner unit for Q4 2022, reflecting a 3% increase from Q3 2021 and a 5% increase from Q4 2021. This marks the 40th consecutive quarter of increased payouts. The distribution is set for payment on February 9, 2023, to unitholders of record as of February 2, 2023. Delek Logistics aims for another 5% distribution growth in 2023, driven by strong demand in its Permian and Delaware Gathering Systems.
Delek Logistics Partners declared a quarterly cash distribution of $1.02 per common limited partner unit for Q4 2022, marking a 3% increase from Q3 2021 and a 5% increase compared to Q4 2021. This is the 40th consecutive quarter of distribution increases, fulfilling the company's 5% growth commitment for 2022. The distribution is payable on February 9, 2023, to unitholders of record by February 2, 2023. Delek Logistics anticipates another 5% distribution growth for 2023, driven by strong demand in the Permian and Delaware Gathering Systems.
Delek US Holdings (NYSE: DK) and Delek Logistics Partners (NYSE: DKL) announced the appointment of Rosy Zuklic as Vice President of Investor Relations and Market Intelligence, effective early 2023. Zuklic, with over 25 years of experience in the oil and gas sector, will enhance Delek's communication with institutional investors and analysts. She previously held a senior role at Phillips 66. Blake Fernandez, the outgoing SVP of Investor Relations, will assist during the transition. Delek operates refineries with a combined capacity of 302,000 barrels per day and has over 250 convenience stores in Texas and New Mexico.
Delek Logistics Partners reported a third quarter net income of $44.7 million, up from $43.6 million year-over-year. EBITDA reached a record $89.0 million, despite $4.2 million in acquisition costs. The adjusted distributable cash flow coverage ratio stands at 1.62x, with a total leverage ratio of 4.35x. The company achieved a 4.2% year-over-year increase in its quarterly distribution to $0.99/unit, marking the 39th consecutive distribution growth. Recent credit amendments have improved liquidity and debt maturity.
On October 25, 2022, Delek Logistics Partners, LP (NYSE: DKL) announced a quarterly cash distribution of $0.99 per common limited partner unit for Q3 2022, reflecting a 0.5% increase from Q2 2022 and a 4.2% rise from Q3 2021. This marks the 39th consecutive quarter of distribution increases since Q4 2012. The distribution will be payable on November 10, 2022 to unitholders of record by November 4, 2022. The company cites strong refining margins and operational momentum as key drivers.
Delek Logistics Partners, LP (NYSE: DKL) announced intentions to release its third quarter 2022 results before the U.S. stock market opens on November 7th, 2022. A conference call is set for 8:30 a.m. CT to discuss these results. Investors can access the live broadcast via www.DelekLogistics.com. Additionally, Delek US Holdings, Inc. (NYSE: DK) will also host its earnings call on the same day at 9:30 a.m. CT, providing insights relevant to Delek Logistics.
Delek Logistics Partners, LP (NYSE: DKL) has announced that 2021 Schedule K-3 tax packages are now accessible on its website for unitholders. These packages can be found under the Tax Information section at www.deleklogistics.com. Unitholders with inquiries regarding the 2021 Tax Reporting Package can reach out via phone at 1-855-301-4589 or email at DelekLogisticsK1Help@deloitte.com. Delek Logistics operates primarily in midstream energy services in regions like the Permian and Delaware Basins.
Delek US Holdings reported a strong second quarter for 2022, achieving a net income of $361.8 million or $5.05 per share, significantly up from a net loss of $(56.7) million in the same period of 2021. Adjusted EBITDA reached $518.4 million, a notable increase from $46.1 million year-over-year. The board announced a regular quarterly dividend of $0.20 per share and expanded its share repurchase program to $400 million. The acquisition of 3 Bear enhances revenue and geographic footprint, while cash reserves improved to $1.24 billion.