Q4 2025 Delek Logistics Partners LP Earnings Call Transcript

Feb 27, 2026 / 05:30 PM GMT

Release Date Price: $51.93 (-0.69%)

Transcript 10-K8-K

Key Points

Positve

Delek Logistics Partners LP (DKL) achieved a record adjusted EBITDA of $536 million in 2025, reflecting strong execution across its businesses.
The company successfully commissioned the new Liby 2 processing plant, increasing its natural gas processing capacity to around 160 million per day.
DKL announced its 50th consecutive quarter distribution increase, marking 13 consecutive years of distribution growth.
The integration of H2O and Gravity into DKL's operations has strengthened its competitive position in the Permian Basin.
DKL ended 2025 with approximately $940 million available liquidity under its credit facilities, providing significant flexibility for growth.

Negative

The ramp-up of sour gas solutions has been slower than initially expected, impacting utilization rates.
Despite strong performance, the company faces challenges in fully capturing the value of recent investments and optimizing synergies.
The need for additional processing capacity in the Delaware Basin is anticipated, indicating potential future capital expenditures.
Economic separation from its sponsor, Delek US Holdings, is still a work in progress, with 80% of EBITDA expected from third parties in 2026.
The company remains cautious about pursuing further acquisitions due to valuation concerns, which may limit growth opportunities.

Refinitiv StreetEvents Event Transcript
E D I T E D V E R S I O N

DKL.N - Delek Logistics Partners LP
Q4 2025 Delek Logistics Partners LP Earnings Call
Feb 27, 2026 / 05:30PM GMT

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Presentation
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Unidentified_1 [1]
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Thank you for standing by. My name is Jay and I will be your conference operator today. At this time, I would like to welcome everyone to the Delek Logistics Partners 4th quarter 2025 earnings call. All lines have been placed on mute to prevent any background noise. After the speaker's remarks, there will be a question-and-answer session.

If you would like to ask a question during this time, simply press star, followed by the number one on your telephone keypad. If you would like to withdraw your question, simply press one again.

And now let's turn the conference over to Robert Wright, EVP Chief Financial Officer. You may begin.

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