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 US Holdings (NYSE:DK) has announced a program to sell up to 434,590 common limited partner units in Delek Logistics Partners, LP (NYSE:DKL) over the next three months. This sale, guided by Rule 144 and a Rule 10b5-1 trading plan, aims to highlight the value of Delek's approximately 80% ownership in DKL, which the company believes is not reflected in its stock price. This move is expected to enhance liquidity and trading volumes for DKL, ultimately benefiting its unitholders.
Delek US Holdings and Delek Logistics Partners announced their 2022 capital spending budget, which ranges from $250 million to $260 million. The budget allocates approximately $59 million for growth at Delek Logistics, anticipated to be self-funding. Key focuses include expanding the Permian Gathering business due to strong demand and opening four new retail locations. Fourth quarter refining throughput guidance is between 275 to 280 mbbl/d, with maintenance activities delayed until 2023.
Delek US Holdings (NYSE: DK) and Delek Logistics Partners (NYSE: DKL) announced a 2022 capital spending budget of $250 million to $260 million. This budget includes $59 million for Delek Logistics, which is expected to be self-funded. Key growth areas include the expansion of the Delek Permian Gathering business and four new retail locations. Minor maintenance at the Tyler facility is scheduled for Q4 2021, allowing the next turnaround to start in 2023, with refining throughput guidance for Q4 projected at 275 to 280 mbbl/d.
Delek US Holdings reported a net income of $18.1 million, or $0.24 per share, for Q3 2021, rebounding from a net loss of $(88.1) million in Q3 2020. Adjusted net income stood at $9.9 million, significantly improving from an adjusted net loss of $(99.5) million year-over-year. Adjusted EBITDA was $109.8 million, up from $(11.2) million in the prior year. The refining segment saw a contribution margin increase to $91.4 million, driven by improved operational reliability and higher demand.
Delek Logistics Partners reported a third quarter net income of $43.6 million, down from $46.3 million in 2020. The diluted earnings per unit were $1.00, compared to $1.26 the previous year. Operating cash flow increased to $74.8 million, with distributable cash flow at $55.5 million. EBITDA rose to $69.9 million, up from $67.8 million year-over-year. A quarterly distribution was declared at $0.95 per unit, marking a 1.1% increase from the previous quarter. The company maintained a strong leverage ratio and reported a healthy cash distribution coverage ratio of 1.34x.
Delek Logistics Partners, LP (NYSE: DKL) has announced a quarterly cash distribution of $0.95 per common limited partner unit for Q3 2021, marking a 1.1% increase from Q2 2021 and a 5% increase from Q3 2020. This distribution is set to be payable on November 10, 2021. The company highlighted strong margins and utilization rates as positive industry trends, reinforcing confidence in DKL's financial outlook. Uzi Yemin, CEO, emphasized the stability of the business amid varying economic conditions.
Delek US Holdings (NYSE: DK) announced its third quarter 2021 results release is scheduled for after market close on November 4, 2021. A conference call to discuss these results will occur on November 5, 2021, at 8:00 a.m. CT. Investors can access the live call on DelekUS.com. Concurrently, Delek Logistics Partners (NYSE: DKL) will hold its earnings call on the same day at 7:00 a.m. CT. Both companies focus on energy logistics and refining, essential for understanding their market positions.
Delek Logistics Partners, LP (NYSE: DKL) announced it will release its third quarter 2021 results after market close on November 4, 2021. A conference call to discuss these results is set for 7:00 a.m. CT on November 5, 2021. Investors can access the live broadcast through www.deleklogistics.com, with a replay available online for 90 days. Additionally, Delek US Holdings, Inc. (NYSE: DK) will conduct its quarterly earnings call on the same day, providing information relevant to Delek Logistics.
Delek US Holdings (NYSE:DK) will present at the 10th Annual Gateway Conference on September 8, 2021, at 12:30 p.m. Eastern time. The presentation will be available via a live webcast and for replay. One-on-one meetings will be held throughout the conference. Delek US is a diversified downstream energy company with significant assets in refining and logistics, including ownership of approximately 80% of Delek Logistics Partners (NYSE:DKL), which focuses on midstream energy infrastructure.
Delek Logistics Partners, LP (NYSE: DKL) reported second-quarter 2021 net income of $43.2 million or $1.00 per diluted unit, down from $44.4 million year-over-year. Net cash from operating activities increased significantly to $85.8 million compared to $37.5 million in Q2 2020. EBITDA rose to $66.8 million, up from $64.8 million. The company announced a cash distribution of $0.94 per unit, a 4.4% increase from Q2 2020. Following a successful $400 million senior notes offering, total debt stands at $928.7 million, enhancing financial flexibility.