| Metric | Value ($ M) | Q1 FY25 |
|---|---|---|
| Revenue | 297.47 | 19.0% |
| Total Income | 297.47 | 19.0% |
| Expenditure | 257.46 | 27.3% |
| PBT | 32.35 | 17.5% |
| Net Profit | 32.35 | 17.1% |
| OPM | 13.45% | 5.60pp |
| NPM | 10.88% | 4.74pp |
| EPS | — |
Delek Logistics Reports Q1 2026 Net Income of $32.4 Million and Adjusted EBITDA of $132.3 Million
29 Apr 2026 · 29 Apr, 4:07 pm
Summary
Delek Logistics Partners, LP announced its first quarter 2026 financial results, reporting net income of $32.4 million, or $0.60 per unit, and an adjusted EBITDA of $132.3 million, marking a 7.4% increase year-over-year. Despite the impact of Winter Storm Fern, the company saw strong operational execution, particularly in its crude, gas, and water segments, and a significant rise in net cash provided by operating activities to $170.4 million. Management reaffirmed its 2026 EBITDA guidance of $520 million to $560 million, driven by increased third-party cash flows and strategic steps towards economic separation from its sponsor. The company also continued its track record of consistent unitholder returns by increasing its quarterly distribution to $1.130 per unit.
Key Highlights
- 1
Delek Logistics reported net income of $32.4 million, or $0.60 per unit, for the first quarter of 2026, compared to $39.0 million in Q1 2025.
- 2
Adjusted EBITDA for Q1 2026 increased by 7.4% year-over-year to $132.3 million, up from $123.2 million in the first quarter of 2025.
- 3
Net cash provided by operating activities significantly rose to $170.4 million in Q1 2026, compared to $31.6 million in the prior year's first quarter.
- 4
The company successfully completed the drilling of its first acid gas injection (AGI) well, advancing its sour gas processing solution at the Libby Gas Complex.
- 5
Delek Logistics signed a new revolving credit facility, increasing borrowing capacity by $150 million and extending maturities to 2031.
- 6
The company reiterated its 2026 EBITDA guidance of $520 million to $560 million, demonstrating confidence in future performance.
- 7
A 53rd consecutive quarterly distribution increase was declared, raising the cash distribution to $1.130 per common limited partner unit for Q1 2026, a 1.8% increase over Q1 2025.
Management Comments
Avigal Soreq
Delek Logistics continued its strong performance into 2026, supported by solid execution across our crude, gas, and water segments. During the first quarter, we saw continued benefits from the ramp-up of our Delaware crude and water gathering businesses and made further progress on our sour gas gathering and acid gas injection system by completing the drilling of our first AGI well. Despite the impact of Winter Storm Fern, the business is showing strong results with rising gas G&P volumes as well as crude gathering volumes reflecting the underlying strength of our system.
Avigal Soreq
Building on this momentum, we are reaffirming our 2026 EBITDA guidance of $520 to $560 million. Our business continues to benefit from increased third-party cash flows and the strategic steps taken over the past year, which have largely completed DKL’s economic separation from its sponsor while maintaining strong commercial alignment. We are also proud to extend our track record of consistent returns to unitholders, supported by stable and growing cash flows.
Avigal Soreq
Looking ahead, we are increasingly encouraged by the opportunities across our footprint, particularly at the Libby Complex, where our comprehensive acid gas injection and sour gas treating capabilities continue to gain traction. This industry-leading solution positions DKL for multi-year growth in the Delaware Basin and supports further expansion of our full-suite strategy. We remain committed to strengthening and growing Delek Logistics through prudent management of liquidity and leverage.
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