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 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.
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.