Delek Logistics Partners Lp Stock Price, News & Analysis

Delek US Holdings reported a second quarter 2021 net loss of $(81.1) million, or $(1.10) per share, contrasting with a net income of $87.7 million, or $1.18 per share, a year prior. Adjusted EBITDA improved to $2.0 million from $(99.6) million year-over-year. The company faced operational disruptions due to winter weather and pipeline outages, incurring $40-$45 million in additional expenses. However, a $156 million federal tax refund and ongoing insurance claims may provide near-term liquidity. Retail and logistics segments showed growth, with logistics' contribution margin reaching $64.2 million.

Delek Logistics Partners, LP (NYSE: DKL) announced a quarterly cash distribution of $0.94 per common limited partner unit for Q2 2021, marking a 2.2% increase from Q1 2021 and a 4.4% increase from Q2 2020. This is the 33rd consecutive quarterly increase, demonstrating business stability. The distribution is payable on August 11, 2021, to unitholders of record on August 5, 2021. CEO Uzi Yemin noted improving product demand trends as the economy reopens, which is expected to support energy demand into the second half of the year.

Delek Logistics Partners, LP (NYSE: DKL) announced it will release its second quarter 2021 results on August 3, 2021, post market close. A conference call to discuss the results will take place on August 4, 2021, at 7:30 a.m. CT. The live broadcast will be accessible online, with a 90-day replay available. Additionally, investors can tune into Delek US Holdings, Inc.'s (NYSE: DK) earnings call on the same day at 8:30 a.m. CT, which could provide relevant market insights.

Delek Logistics Partners, LP (NYSE: DKL) announced the pricing of a $400 million offering of 7.125% senior notes due 2028. The offering is set to close on May 24, 2021, pending customary conditions. The proceeds will be used to repay a portion of outstanding borrowings under its revolving credit facility. The notes are offered only to qualified institutional buyers, exempt from registration under the Securities Act. Forward-looking statements highlight potential risks, including market uncertainties and public health impacts.

Delek Logistics Partners, LP (NYSE: DKL) announced plans to offer $400 million in senior notes due 2028 in a private placement, subject to market conditions. The proceeds will be used to reduce outstanding borrowings under its revolving credit facility. The offering is only for qualified institutional buyers, exempt from registration under the Securities Act. This press release serves as notification under Rule 135c and is not an offer for the sale of the Notes. Delek Logistics, based in Brentwood, Tennessee, operates logistics and marketing assets for crude oil and refined products.

Delek US Holdings, Inc. announced that at its 2021 Annual Meeting, shareholders overwhelmingly elected all eight director nominees, achieving approximately 90% support. The company expressed gratitude to its shareholders and reiterated its commitment to enhancing shareholder value while overseeing corporate strategy. Additionally, all other proposals from the meeting were approved. Delek plans to file the preliminary and final voting results with the SEC as per regulations.

Delek Logistics Partners reported a net income of $36.3 million for Q1 2021, up from $27.8 million in Q1 2020. Earnings per unit rose to $0.83, compared to $0.76 a year earlier. Net cash from operations increased to $61.7 million from $34.8 million. Distributable cash flow also saw growth, reaching $52.5 million. The company announced a 3.4% year-over-year distribution growth, reflecting its commitment to 5% annual growth. Despite challenges from Winter Storm Uri, increased refinery utilization is expected, providing a positive outlook. A quarterly distribution of $0.92 per unit was declared.

Delek Logistics Partners, LP (NYSE: DKL) announced a quarterly cash distribution of $0.92 per common limited partner unit for Q1 2021, reflecting a 1.1% increase from the previous quarter. This marks the 32nd consecutive quarterly increase and a 3.4% rise from Q1 2020. The distribution is payable on May 14, 2021, to unitholders of record on May 10, 2021. CEO Uzi Yemin noted improving demand trends connected to vaccination efforts, which may bolster energy demand for the latter half of the year.

Delek US Holdings (NYSE: DK) has announced it will release its first quarter 2021 results on May 4, 2021, after market close. A conference call to discuss these results is scheduled for May 5, 2021, at 8:30 a.m. CT (9:30 a.m. ET). Investors can access the live broadcast on DelekUS.com. Additionally, Delek Logistics Partners (NYSE: DKL) will hold its earnings call on the same day at 7:30 a.m. CT (8:30 a.m. ET).