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) reported a net loss of $37.2 million or $(0.58) per share for Q2 2024, with an adjusted net loss of $59.3 million or $(0.92) per share. The company's adjusted EBITDA was $107.5 million. Key developments include:
1. Agreement to sell retail assets for $385 million
2. 10-year fuel supply agreement with FEMSA
3. Amended and extended intercompany contracts with Delek Logistics (DKL)
4. Dropped down Wink to Webster pipeline interest to DKL
5. DKL acquired H2O Midstream and announced a new gas processing plant
The company's refining segment saw a decrease in Adjusted EBITDA, while the logistics segment improved. Delek US increased its quarterly dividend to $0.255 per share.
FEMSA and Delek US Holdings have signed a definitive agreement for FEMSA to acquire 100% of Delek's retail business for $385 million. The transaction includes 249 corporate stores operating under the DK brand, primarily in Texas and New Mexico. This marks FEMSA's entry into the US convenience and mobility industry, expanding its global retail operations. For Delek, this sale aligns with their strategy to unlock value for stakeholders and gain a competitive partner for ongoing retail fuel sales. The deal is expected to close in late Q3 or Q4 2024.
FEMSA, a Mexican conglomerate, operates over 22,800 OXXO stores across 5 countries. Delek US Holdings is a diversified downstream energy company with assets in refining, logistics, pipelines, renewable fuels, and convenience store retailing.
Delek US Holdings, Inc. (DK) has announced a $0.005 increase in its regular quarterly dividend to $0.255 per share. The dividend will be paid on August 19, 2024, to shareholders of record on August 12, 2024. Delek US is a diversified downstream energy company with assets in petroleum refining, logistics, pipelines, renewable fuels, and convenience store retailing. The company operates refineries in Texas, Arkansas, and Louisiana with a combined nameplate crude throughput capacity of 302,000 barrels per day. Delek US also has an ownership interest in the 650-mile Wink to Webster long-haul crude oil pipeline and operates approximately 250 convenience stores in West Texas and New Mexico. Additionally, Delek US owns about 72.6% of Delek Logistics Partners, LP (NYSE: DKL) as of June 30, 2024.
Delek Logistics Partners, LP (NYSE: DKL) has announced its quarterly cash distribution for the second quarter of 2024. The company will distribute $1.09 per common partner unit, which equates to $4.36 per unit on an annualized basis. This distribution is set to be paid on August 16, 2024, to unitholders of record as of August 9, 2024. This announcement represents an increase in the company's quarterly cash distribution, demonstrating Delek Logistics' commitment to delivering value to its unitholders.
Delek US Holdings (NYSE: DK) has scheduled a conference call to discuss its second quarter 2024 results on August 6, 2024. The press release summarizing the results will be issued before the U.S. stock market opens. Scheduled to start at 11:00 a.m. CT (12:00 p.m. ET), the conference call will be accessible live online through the company's investor relations section on their website. An online replay will also be available for 90 days.
Delek Logistics Partners (NYSE: DKL) will release its second quarter 2024 financial results before the U.S. stock market opens on August 6, 2024. The company will host a conference call to discuss these results on the same day at 12:30 p.m. CT (1:30 p.m. ET). Interested parties can access the live broadcast and subsequent 90-day replay online at the company's website, www.DelekLogistics.com, under the webcasts section.
Delek Logistics Partners, LP (NYSE: DKL) reported a net income of $32.6 million for the first quarter of 2024, with earnings before interest, taxes, depreciation and amortization (EBITDA) of $101.5 million. Distributable cash flow stood at $68.0 million, with a coverage ratio of 1.35x. The company executed $850 million debt and $138 million equity offerings, improving liquidity to $800.0 million. With a total of 47.2 million outstanding units, Delek Logistics delivered its 45th consecutive distribution growth, now at $1.070 per unit.
Delek US Holdings, Inc. reported a net loss of $32.6 million in the first quarter of 2024, with adjusted net loss of $26.2 million. They successfully executed debt and equity offerings, improving liquidity to $800 million. The company added 3.6 million DKL units, increased volume activity, and improved leverage ratio. They paid $15.7 million in dividends and increased quarterly dividend to $0.250 per share. The refining segment's Adjusted EBITDA was $106.1 million, logistics segment's was $99.7 million, and retail segment's was $6.5 million. Corporate and other activities reported a loss of $(53.6) million. Delek US had a cash balance of $753.4 million and total long-term debt of $2,496.9 million.
Delek US Holdings, Inc. announced an increase in the regular quarterly dividend to $0.25 per share. The dividend will be paid on May 24, 2024, to shareholders of record on May 17, 2024. Delek US is a diversified downstream energy company with refining, logistics, pipelines, renewable fuels, and convenience store retailing assets.
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