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Delek Logistics Reports First Quarter 2024 Results

  • Net income attributable to all partners of $32.6 million
  • Quarterly EBITDA of $101.5 million
  • Distributable cash flow of $68.0 million, DCF coverage ratio of 1.35x
  • In 2024, successfully executed $850 million debt offering and $138 million equity offering:
    • Improved liquidity from approximately $300.0 million to $800.0 million
    • Added 3.6 million units for a total 47.2 million outstanding units and increased volume activity
    • Improved leverage ratio to 4.01x from 4.34x at year-end 2023
  • Delivered 45 consecutive quarters of distribution growth with recent increase to $1.070/unit

Delek Logistics Partners, LP (NYSE: DKL) ("Delek Logistics") today announced its financial results for the first quarter 2024, with reported net income attributable to all partners of $32.6 million, or $0.73 per diluted common limited partner unit. This compares to net income attributable to all partners of $37.4 million, or $0.86 per diluted common limited partner unit, in the first quarter 2023. The decrease in net income attributable to all partners was driven by higher interest expense. Net cash provided in operating activities was $43.9 million in the first quarter 2024 compared to $29.2 million in the first quarter 2023. Distributable cash flow was $68.0 million in the first quarter 2024, compared to $61.8 million in the first quarter 2023.

For the first quarter 2024, earnings before interest, taxes, depreciation and amortization ("EBITDA") was $101.5 million compared to $93.2 million in the first quarter 2023.

“Delek Logistics had a strong quarter, delivering another solid financial and operational performance,” said Avigal Soreq, President of Delek Logistics' general partner.

"I'm proud of the team for successfully executing the debt and equity offerings during the quarter," Soreq continued. "We improved DKL's financial strength and flexibility with these transactions. The leverage ratio was lowered to 4.01x, down from 4.34x at year-end 2023, and liquidity was improved to approximately $800.0 million. Additionally, we saw new investor interest and increased volume activity in the units, enhancing our opportunities with DKL."

“In April, the Board continued its commitment to return value to unitholders and approved the 45th consecutive increase in the quarterly distribution to $1.070 per unit," Mr. Soreq concluded.

Distribution and Liquidity

On April 25, 2024, Delek Logistics declared a quarterly cash distribution of $1.070 per common limited partner unit for the first quarter 2024. This distribution will be paid on May 15, 2024 to unitholders of record on May 8, 2024. This represents a 1.4% increase from the fourth quarter 2023 distribution of $1.055 per common limited partner unit, and a 4.4% increase over Delek Logistics’ first quarter 2023 distribution of $1.025 per common limited partner unit. For the first quarter 2024, the total cash distribution declared to all partners was approximately $50.5 million, resulting in a distributable cash flow ("DCF") coverage ratio of 1.35x.

As of March 31, 2024, Delek Logistics had total debt of approximately $1.60 billion and cash of $9.7 million. Additional borrowing capacity, subject to certain covenants, under the $1.15 billion third party revolving credit facility was $584.8 million. The total leverage ratio as of March 31, 2024 of approximately 4.01x was within the requirements of the maximum allowable leverage ratio under the credit facility.

Consolidated Operating Results

First quarter 2024, EBITDA was $101.5 million compared with $93.2 million in the first quarter 2023. The $8.3 million increase reflects higher contributions from the Delaware Gathering systems, terminalling and marketing rate increases, as well as continued strong throughput on joint venture pipelines. The increase was partially offset by higher operating expenses driven by the growth in operations.

Gathering and Processing Segment

EBITDA in the first quarter 2024 was $57.8 million compared with $55.4 million in the first quarter 2023. The increase was primarily due to higher throughput from Permian Basin assets.

Wholesale Marketing and Terminalling Segment

EBITDA in the first quarter 2024 was $25.3 million, compared with first quarter 2023 EBITDA of $22.0 million. The increase was primarily due to higher terminalling utilization.

Storage and Transportation Segment

EBITDA in the first quarter 2024 was $18.1 million, compared with $13.4 million in the first quarter 2023. The increase was primarily due to increased storage and transportation rates.

Investments in Pipeline Joint Ventures Segment

During the first quarter 2024, income from equity method investments was $8.5 million compared to $6.3 million in the first quarter 2023.

Corporate

EBITDA in the first quarter 2024 was a loss of $8.1 million compared to a loss of $4.0 million in the first quarter 2023.

First Quarter 2024 Results | Conference Call Information

Delek Logistics will hold a conference call to discuss its first quarter 2024 results on Tuesday, May 7, 2024 at 11:30 a.m. Central Time. Investors will have the opportunity to listen to the conference call live by going to www.DelekLogistics.com. Participants are encouraged to register at least 15 minutes early to download and install any necessary software. An archived version of the replay will also be available at www.DelekLogistics.com for 90 days.

About Delek Logistics Partners, LP

Delek Logistics is a midstream energy master limited partnership headquartered in Brentwood, Tennessee. Through its owned assets and joint ventures located primarily in and around the Permian Basin, the Delaware Basin and other select areas in the Gulf Coast region, Delek Logistics provides gathering, pipeline and other transportation services primarily for crude oil and natural gas customers, storage, wholesale marketing and terminalling services primarily for intermediate and refined product customers, and water disposal and recycling services. Delek US Holdings, Inc. ("Delek US") owns the general partner interest as well as a majority limited partner interest in Delek Logistics, and is also a significant customer.

Safe Harbor Provisions Regarding Forward-Looking Statements

This press release contains forward-looking statements that are based upon current expectations and involve a number of risks and uncertainties. Statements concerning current estimates, expectations and projections about future results, performance, prospects, opportunities, plans, actions and events and other statements, concerns, or matters that are not historical facts are “forward-looking statements,” as that term is defined under the federal securities laws. These statements contain words such as “possible,” “believe,” “should,” “could,” “would,” “predict,” “plan,” “estimate,” “intend,” “may,” “anticipate,” “will,” “if,” “expect” or similar expressions, as well as statements in the future tense, and can be impacted by numerous factors, including the fact that a significant portion of Delek Logistics' revenue is derived from Delek US, thereby subjecting us to Delek US' business risks; risks relating to the securities markets generally; risks and costs relating to the age and operational hazards of our assets including, without limitation, costs, penalties, regulatory or legal actions and other effects related to releases, spills and other hazards inherent in transporting and storing crude oil and intermediate and finished petroleum products; the impact of adverse market conditions affecting the utilization of Delek Logistics' assets and business performance, including margins generated by its wholesale fuel business; risks and uncertainties related to the integration of the 3 Bear business following the recent acquisition; uncertainties regarding future decisions by OPEC regarding production and pricing disputes between OPEC members and Russia; an inability of Delek US to grow as expected as it relates to our potential future growth opportunities, including dropdowns, and other potential benefits; projected capital expenditures, scheduled turnaround activity; the results of our investments in joint ventures; adverse changes in laws including with respect to tax and regulatory matters; and other risks as disclosed in our Annual Report on Form 10-K, Quarterly Reports on Form 10-Q and other reports and filings with the United States Securities and Exchange Commission. Forward-looking statements include, but are not limited to, statements regarding future growth at Delek Logistics; distributions and the amounts and timing thereof; potential dropdown inventory; projected benefits of the Delaware Gathering acquisition; expected earnings or returns from joint ventures or other acquisitions; expansion projects; ability to create long-term value for our unit holders; financial flexibility and borrowing capacity; and distribution growth. Forward-looking statements should not be read as a guarantee of future performance or results and will not be accurate indications of the times at, or by, which such performance or results will be achieved. Forward-looking information is based on information available at the time and/or management's good faith belief with respect to future events, and is subject to risks and uncertainties that could cause actual performance or results to differ materially from those expressed in the statements. Delek Logistics undertakes no obligation to update or revise any such forward-looking statements to reflect events or circumstances that occur, or which Delek Logistics becomes aware of, after the date hereof, except as required by applicable law or regulation.

Non-GAAP Disclosures:

Our management uses certain "non-GAAP" operational measures to evaluate our operating segment performance and non-GAAP financial measures to evaluate past performance and prospects for the future to supplement our GAAP financial information presented in accordance with U.S. GAAP. These financial and operational non-GAAP measures are important factors in assessing our operating results and profitability and include:

  • Earnings before interest, taxes, depreciation and amortization ("EBITDA") - calculated as net income before net interest expense, income tax expense, depreciation and amortization expense, including amortization of customer contract intangible assets, which is included as a component of net revenues in our accompanying consolidated statements of income.
  • Distributable cash flow - calculated as net cash flow from operating activities plus or minus changes in assets and liabilities, less maintenance capital expenditures net of reimbursements and other adjustments not expected to settle in cash. Delek Logistics believes this is an appropriate reflection of a liquidity measure by which users of its financial statements can assess its ability to generate cash.

Our EBITDA and distributable cash flow measures are non GAAP supplemental financial measures that management and external users of our consolidated financial statements, such as industry analysts, investors, lenders and rating agencies, may use to assess:

  • Delek Logistics' operating performance as compared to other publicly traded partnerships in the midstream energy industry, without regard to historical cost basis or, in the case of EBITDA, financing methods;
  • the ability of our assets to generate sufficient cash flow to make distributions to our unitholders on a current and on-going basis;
  • Delek Logistics' ability to incur and service debt and fund capital expenditures; and
  • the viability of acquisitions and other capital expenditure projects and the returns on investment of various investment opportunities.

We believe that the presentation of EBITDA and distributable cash flow measures provide information useful to investors in assessing our financial condition and results of operations and assists in evaluating our ongoing operating performance for current and comparative periods. EBITDA and distributable cash flow should not be considered alternatives to net income, operating income, cash flow from operating activities or any other measure of financial performance or liquidity presented in accordance with U.S. GAAP. EBITDA and distributable cash flow have important limitations as analytical tools because they exclude some, but not all, items that affect net income and net cash provided by operating activities. Additionally, because EBITDA and distributable cash flow may be defined differently by other partnerships in our industry, our definitions of EBITDA and distributable cash flow may not be comparable to similarly titled measures of other partnerships, thereby diminishing their utility. For a reconciliation of EBITDA and distributable cash flow to their most directly comparable financial measures calculated and presented in accordance with U.S. GAAP, please refer to "Results of Operations" below. See the accompanying tables in this earnings release for a reconciliation of these non-GAAP measures to the most directly comparable GAAP measures.

 

Delek Logistics Partners, LP

Consolidated Balance Sheets (Unaudited)

(In thousands, except unit data)

 

March 31, 2024

 

December 31, 2023

ASSETS

 

 

 

Current assets:

 

 

 

Cash and cash equivalents

$

9,672

 

 

$

3,755

 

Accounts receivable

 

56,993

 

 

 

41,131

 

Accounts receivable from related parties

 

36,588

 

 

 

28,443

 

Inventory

 

1,655

 

 

 

2,264

 

Other current assets

 

615

 

 

 

676

 

Total current assets

 

105,523

 

 

 

76,269

 

Property, plant and equipment:

 

 

 

Property, plant and equipment

 

1,336,053

 

 

 

1,320,510

 

Less: accumulated depreciation

 

(406,009

)

 

 

(384,359

)

Property, plant and equipment, net

 

930,044

 

 

 

936,151

 

Equity method investments

 

238,185

 

 

 

241,337

 

Customer relationship intangible, net

 

176,811

 

 

 

181,336

 

Marketing contract intangible, net

 

100,352

 

 

 

102,155

 

Rights-of-way, net

 

60,141

 

 

 

59,536

 

Goodwill

 

12,203

 

 

 

12,203

 

Operating lease right-of-use assets

 

17,641

 

 

 

19,043

 

Other non-current assets

 

13,471

 

 

 

14,216

 

Total assets

$

1,654,371

 

 

$

1,642,246

 

 

 

 

 

LIABILITIES AND DEFICIT

 

 

 

Current liabilities:

 

 

 

Accounts payable

$

26,313

 

 

$

26,290

 

Current portion of long-term debt

 

 

 

 

30,000

 

Interest payable

 

12,710

 

 

 

5,805

 

Excise and other taxes payable

 

7,638

 

 

 

10,321

 

Current portion of operating lease liabilities

 

6,442

 

 

 

6,697

 

Accrued expenses and other current liabilities

 

4,098

 

 

 

11,477

 

Total current liabilities

 

57,201

 

 

 

90,590

 

Non-current liabilities:

 

 

 

Long-term debt, net of current portion

 

1,601,226

 

 

 

1,673,789

 

Operating lease liabilities, net of current portion

 

7,367

 

 

 

8,335

 

Asset retirement obligations

 

10,225

 

 

 

10,038

 

Other non-current liabilities

 

20,819

 

 

 

21,363

 

Total non-current liabilities

 

1,639,637

 

 

 

1,713,525

 

Total liabilities

 

1,696,838

 

 

 

1,804,115

 

Equity (Deficit):

 

 

 

Common unitholders - public; 12,898,253 units issued and outstanding at March 31, 2024 (9,299,763 at December 31, 2023)

 

290,051

 

 

 

160,402

 

Common unitholders - Delek Holdings; 34,311,278 units issued and outstanding at March 31, 2024 (34,311,278 at December 31, 2023)

 

(332,518

)

 

 

(322,271

)

Total deficit

 

(42,467

)

 

 

(161,869

)

Total liabilities and deficit

$

1,654,371

 

 

$

1,642,246

 

 

 

Delek Logistics Partners, LP

Consolidated Statement of Income and Comprehensive Income (Unaudited)

(In thousands, except unit and per unit data)

 

 

Three Months Ended March 31,

 

 

2024

 

 

 

2023

 

Net revenues:

 

 

 

Affiliate

$

139,625

 

 

$

124,999

 

Third-party

 

112,450

 

 

 

118,526

 

Net revenues

 

252,075

 

 

 

243,525

 

Cost of sales:

 

 

 

Cost of materials and other - affiliate

 

92,882

 

 

 

91,071

 

Cost of materials and other - third party

 

30,810

 

 

 

35,025

 

Operating expenses (excluding depreciation and amortization presented below)

 

31,695

 

 

 

24,215

 

Depreciation and amortization

 

25,167

 

 

 

19,764

 

Total cost of sales

 

180,554

 

 

 

170,075

 

Operating expenses related to wholesale business (excluding depreciation and amortization presented below)

 

221

 

 

 

525

 

General and administrative expenses

 

4,863

 

 

 

7,510

 

Depreciation and amortization

 

1,328

 

 

 

1,341

 

Loss on disposal of assets

 

567

 

 

 

142

 

Total operating costs and expenses

 

187,533

 

 

 

179,593

 

Operating income

 

64,542

 

 

 

63,932

 

Interest expense, net

 

40,229

 

 

 

32,581

 

Income from equity method investments

 

(8,490

)

 

 

(6,316

)

Other income, net

 

(171

)

 

 

(2

)

Total non-operating expenses, net

 

31,568

 

 

 

26,263

 

Income before income tax expense

 

32,974

 

 

 

37,669

 

Income tax expense

 

326

 

 

 

302

 

Net income attributable to partners

$

32,648

 

 

$

37,367

 

Comprehensive income attributable to partners

$

32,648

 

 

$

37,367

 

 

 

 

 

Net income per limited partner unit:

 

 

 

Basic

$

0.74

 

 

$

0.86

 

Diluted

$

0.73

 

 

$

0.86

 

Weighted average limited partner units outstanding:

 

 

 

Basic

 

44,406,356

 

 

 

43,569,963

 

Diluted

 

44,422,817

 

 

 

43,585,297

 

Cash distribution per common limited partner unit

$

1.070

 

 

$

1.025

 

 

 

Delek Logistics Partners, LP

Condensed Consolidated Statements of Cash Flows (In thousands)

 

(Unaudited)

 

 

Three Months Ended March 31,

 

 

2024

 

 

 

2023

 

Cash flows from operating activities

 

 

 

Net cash provided by operating activities

$

43,858

 

 

$

29,190

 

Cash flows from investing activities

 

 

 

Net cash used in investing activities

 

(9,861

)

 

 

(26,979

)

Cash flows from financing activities

 

 

 

Net cash (used in) provided by financing activities

 

(28,080

)

 

 

783

 

Net increase in cash and cash equivalents

 

5,917

 

 

 

2,994

 

Cash and cash equivalents at the beginning of the period

 

3,755

 

 

 

7,970

 

Cash and cash equivalents at the end of the period

$

9,672

 

 

$

10,964

 

 

 

Delek Logistics Partners, LP

Reconciliation of Amounts Reported Under U.S. GAAP (Unaudited)

(In thousands)

 

Three Months Ended March 31,

 

 

2024

 

 

 

2023

 

Reconciliation of Net Income to EBITDA:

 

 

 

Net income

$

32,648

 

 

$

37,367

 

Add:

 

 

 

Income tax expense

 

326

 

 

 

302

 

Depreciation and amortization

 

26,495

 

 

 

21,105

 

Amortization of marketing contract intangible

 

1,803

 

 

 

1,803

 

Interest expense, net

 

40,229

 

 

 

32,581

 

EBITDA

$

101,501

 

 

$

93,158

 

 

 

 

 

Reconciliation of net cash from operating activities to distributable cash flow:

 

 

 

Net cash provided by operating activities

$

43,858

 

 

$

29,190

 

Changes in assets and liabilities

 

25,787

 

 

 

37,670

 

Non-cash lease expense

 

(1,939

)

 

 

(2,200

)

Distributions from equity method investments in investing activities

 

2,133

 

 

 

1,440

 

Regulatory and sustaining capital expenditures not distributable

 

(1,279

)

 

 

(4,246

)

Reimbursement from Delek Holdings for capital expenditures

 

286

 

 

 

337

 

Accretion of asset retirement obligations

 

(187

)

 

 

(176

)

Deferred income taxes

 

(101

)

 

 

(111

)

Loss on disposal of assets

 

(567

)

 

 

(142

)

Distributable Cash Flow

$

67,991

 

 

$

61,762

 

 

 

Delek Logistics Partners, LP

Distributable Coverage Ratio Calculation (Unaudited)

(In thousands)

 

Three Months Ended March 31,

 

 

2024

 

 

 

2023

 

Distributions to partners of Delek Logistics, LP

$

50,514

 

$

44,664

 

 

 

 

Distributable cash flow

$

67,991

 

 

$

61,762

 

Distributable cash flow coverage ratio (1)

1.35x

 

1.38x

(1) Distributable cash flow coverage ratio is calculated by dividing distributable cash flow by distributions to be paid in each respective period.

 

Delek Logistics Partners, LP

Segment Data (Unaudited)

(In thousands)

 

 

Three Months Ended March 31, 2024

 

 

Gathering and Processing

 

Wholesale Marketing and Terminalling

 

Storage and Transportation

 

Investments in Pipeline Joint Ventures

 

Corporate and Other

 

Consolidated

Net revenues:

 

 

 

 

 

 

 

 

 

 

 

 

Affiliate

 

$

52,553

 

$

52,882

 

 

$

34,190

 

$

 

$

 

$

139,625

Third party

 

 

43,330

 

 

 

66,388

 

 

 

2,732

 

 

 

 

 

 

 

 

 

112,450

 

Total revenue

 

$

95,883

 

 

$

119,270

 

 

$

36,922

 

 

$

 

 

$

 

 

$

252,075

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Segment EBITDA

 

$

57,772

 

 

$

25,274

 

 

$

18,127

 

 

$

8,477

 

 

$

(8,149

)

 

$

101,501

 

Depreciation and amortization

 

 

21,154

 

 

 

1,712

 

 

 

2,775

 

 

 

 

 

 

854

 

 

 

26,495

 

Amortization of customer contract intangible

 

 

 

 

 

1,803

 

 

 

 

 

 

 

 

 

 

 

 

1,803

 

Interest expense, net

 

 

 

 

 

 

 

 

 

 

 

 

 

 

40,229

 

 

 

40,229

 

Income tax expense

 

 

 

 

 

 

 

 

 

 

 

 

326

 

Net income

 

 

 

 

 

 

 

 

 

 

 

$

32,648

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Capital spending

 

$

14,723

 

 

$

(84

)

 

$

526

 

 

$

 

 

$

 

 

$

15,165

 

 

 

Three Months Ended March 31, 2023

 

 

Gathering and Processing

 

Wholesale Marketing and Terminalling

 

Storage and Transportation

 

Investments in Pipeline Joint Ventures

 

Corporate and Other

 

Consolidated

Net revenues:

 

 

 

 

 

 

 

 

 

 

 

 

Affiliate

 

$

52,761

 

$

33,751

 

$

38,487

 

$

 

$

 

$

124,999

Third party

 

 

39,671

 

 

 

78,558

 

 

 

297

 

 

 

 

 

 

 

 

 

118,526

 

Total revenue

 

$

92,432

 

 

$

112,309

 

 

$

38,784

 

 

$

 

 

$

 

 

$

243,525

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Segment EBITDA

 

$

55,445

 

 

$

21,954

 

 

$

13,422

 

 

$

6,316

 

 

$

(3,979

)

 

$

93,158

 

Depreciation and amortization

 

 

16,447

 

 

 

1,689

 

 

 

2,102

 

 

 

 

 

 

867

 

 

 

21,105

 

Amortization of customer contract intangible

 

 

 

 

 

1,803

 

 

 

 

 

 

 

 

 

 

 

 

1,803

 

Interest expense, net

 

 

 

 

 

 

 

 

 

 

 

 

 

 

32,581

 

 

 

32,581

 

Income tax expense

 

 

 

 

 

 

 

 

 

 

 

 

302

 

Net income

 

 

 

 

 

 

 

 

 

 

 

$

37,367

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Capital spending

 

$

32,789

 

 

$

3,116

 

 

$

196

 

 

$

 

 

$

 

 

$

36,101

 

 

 

Delek Logistics Partners, LP

Segment Capital Spending

(In thousands)

 

Three Months Ended March 31,

Gathering and Processing

 

2024

 

 

 

2023

 

Regulatory capital spending

$

 

 

$

Sustaining capital spending

 

837

 

 

 

 

Growth capital spending

 

13,886

 

 

 

32,789

 

Segment capital spending

$

14,723

 

 

$

32,789

 

Wholesale Marketing and Terminalling

 

 

 

Regulatory capital spending

 

(72

)

 

 

61

 

Sustaining capital spending

 

(12

)

 

 

2,931

 

Growth capital spending

 

 

 

 

124

 

Segment capital spending

$

(84

)

 

$

3,116

 

Storage and Transportation

 

 

 

Regulatory capital spending

$

 

 

$

24

 

Sustaining capital spending

 

526

 

 

 

172

 

Growth capital spending

$

 

 

$

 

Segment capital spending

$

526

 

 

$

196

 

Consolidated

 

 

 

Regulatory capital spending

$

(72

)

 

$

85

 

Sustaining capital spending

 

1,351

 

 

 

3,103

 

Growth capital spending

 

13,886

 

 

 

32,913

 

Total capital spending

$

15,165

 

 

$

36,101

 

 

 

Delek Logistics Partners, LP

 

 

 

Segment Operating Data (Unaudited)

 

 

 

 

Three Months Ended March 31,

 

 

2024

 

 

 

2023

 

Gathering and Processing Segment:

 

 

 

Throughputs (average bpd)

 

 

 

El Dorado Assets:

 

 

 

Crude pipelines (non-gathered)

 

73,011

 

 

63,528

Refined products pipelines to Enterprise Systems

 

63,234

 

 

 

55,003

 

El Dorado Gathering System

 

12,987

 

 

 

13,872

 

East Texas Crude Logistics System

 

19,702

 

 

 

22,670

 

Midland Gathering System

 

213,458

 

 

 

222,112

 

Plains Connection System

 

256,844

 

 

 

240,597

 

Delaware Gathering Assets:

 

 

 

Natural Gas Gathering and Processing (Mcfd(1))

 

76,322

 

 

 

74,716

 

Crude Oil Gathering (average bpd)

 

123,509

 

 

 

103,725

 

Water Disposal and Recycling (average bpd)

 

120,269

 

 

 

88,182

 

 

 

 

 

Wholesale Marketing and Terminalling Segment:

 

 

 

East Texas - Tyler Refinery sales volumes (average bpd) (2)

 

66,475

 

 

 

34,816

 

Big Spring marketing throughputs (average bpd)

 

76,615

 

 

 

78,380

 

West Texas marketing throughputs (average bpd)

 

9,976

 

 

 

8,696

 

West Texas gross margin per barrel

$

2.15

 

 

$

5.47

 

Terminalling throughputs (average bpd) (3)

 

136,614

 

 

 

93,305

 

(1) Mcfd - average thousand cubic feet per day.

(2) Excludes jet fuel and petroleum coke.

(3) Consists of terminalling throughputs at our Tyler, Big Spring, Big Sandy and Mount Pleasant, Texas, El Dorado and North Little Rock, Arkansas and Memphis and Nashville, Tennessee terminals.

 

Information about Delek Logistics Partners, LP can be found on its website (www.deleklogistics.com), investor relations webpage (https://www.deleklogistics.com/investor-relations), news webpage (https://www.deleklogistics.com/news-releases) and its X account (@DelekLogistics).

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