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.
News for Delek Logistics Partners, LP (NYSE: DKL) focuses on its role as a midstream energy master limited partnership headquartered in Brentwood, Tennessee. The partnership owns and operates logistics and infrastructure assets that provide gathering, pipeline and other transportation services for crude oil and natural gas customers, storage, wholesale marketing and terminalling services for intermediate and refined product customers, and water disposal and recycling services, primarily in and around the Permian Basin, the Delaware Basin and select Gulf Coast areas.
DKL news coverage frequently highlights quarterly financial results, including net income, EBITDA, Adjusted EBITDA and distributable cash flow, as well as updated Adjusted EBITDA guidance. Press releases discuss performance by segment, such as gathering and processing, wholesale marketing and terminalling, storage and transportation, and investments in pipeline joint ventures. They also describe the impact of acquisitions, dropdown transactions and changes in commercial agreements on segment results.
Investors following DKL can expect updates on capital projects and operational milestones, such as the completion of the Libby 2 gas processing plant, crude and water gathering projects, and the development of sour gas gathering and acid gas injection capabilities at the Libby Complex. News items also cover liquidity and financing actions, including debt offerings like the 7.375% senior notes due 2033 and borrowing capacity under the partnership’s revolving credit facility.
Another recurring theme in Delek Logistics news is the declaration of quarterly cash distributions on common limited partner units, with details on distribution amounts, record dates and payment dates. Because Delek US Holdings, Inc. owns the general partner interest and a majority limited partner interest in DKL and is a significant customer, Delek US earnings releases often reference DKL’s performance and guidance as part of the logistics segment. Readers interested in DKL’s financial and operational developments can use this news page to monitor earnings releases, distribution announcements, financing transactions and project updates.
Delek Logistics Partners (NYSE: DKL) reported a net income of $32.2 million for Q2 2022, down from $43.2 million in Q2 2021. EBITDA stood at $64.5 million, including $6.2 million in acquisition-related expenses. The recent acquisition of 3 Bear expanded revenue sources and geographic reach. The quarterly distribution increased by 4.8% to $0.985/unit, marking 38 consecutive quarters of growth. Total debt was approximately $1.52 billion, with a leverage ratio of 4.7x, within acceptable limits.
Delek Logistics Partners, LP (NYSE: DKL) announced a quarterly cash distribution of $0.985 per common limited partner unit for Q2 2022, a 0.5% increase from Q1 2022 and a 4.8% increase compared to Q2 2021. This marks the 38th consecutive quarter of increased payouts since Q4 2012. The distribution is payable on August 11, 2022, to unitholders of record on August 4, 2022. The company remains optimistic about strong volume growth in the Permian region and benefits from its recent 3Bear acquisition, which enhances revenue diversity.
Delek US Holdings (NYSE: DK) announced it will release its second quarter 2022 financial results on August 4, 2022, before the market opens. A conference call to discuss the results is scheduled for 10:00 a.m. CT on the same day. Investors can access the live broadcast on the company’s website, with a replay available for 90 days. Additionally, Delek Logistics Partners (NYSE: DKL) will hold its earnings call at 9:00 a.m. CT on August 4, 2022. Delek US operates in refining, logistics, and convenience retail with substantial assets across Texas and other states.
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.