Delek Logistics Partners, LP
For the period ended Sep 30, 2025. Filed Nov 7, 2025.
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A company's report for each of its first three quarters. The financial statements are not audited. It shows how the business has moved since the last annual report, and what management says changed.
Sep 30, 2025 · Filed Nov 7, 2025
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Summary of Financial and Other Information
A discussion and analysis of the factors contributing to our results of operations is presented below. The financial statements, together with the following information, are intended to provide investors with a reasonable basis for assessing our historical operations, but should not serve as the only criteria for predicting our future performance.
The following table provides summary financial data (in thousands, except unit and per unit amounts):
| Summary Statement of Operations Data (1) | Three Months Ended September 30, | Nine Months Ended September 30, | ||
|---|---|---|---|---|
| 2025 | 2024 | 2025 | 2024 | |
| Net revenues: | ||||
| Gathering and Processing | $132,209 | $81,527 | $368,579 | $270,053 |
| Wholesale marketing and terminalling | 104,741 | 106,938 | 316,055 | 361,808 |
| Storage and transportation | 24,327 | 25,605 | 72,923 | 98,912 |
| Total | 261,277 | 214,070 | 757,557 | 730,773 |
| Cost of materials and other | 129,724 | 117,510 | 378,137 | 379,262 |
| Operating expenses (excluding depreciation and amortization presented below) | 43,853 | 27,920 | 122,912 | 89,464 |
| General and administrative expenses | 4,520 | 15,745 | 22,328 | 26,624 |
| Depreciation and amortization | 34,799 | 21,204 | 89,612 | 71,906 |
| Other operating expense (income), net | 3,013 | (117) | (835) | (1,294) |
| Operating income | $45,368 | $31,808 | $145,403 | $164,811 |
| Interest income | (26,716) | (23,470) | (72,801) | (23,498) |
| Interest expense | 47,991 | 37,022 | 130,803 | 112,547 |
| Income from equity method investments | (21,878) | (15,602) | (42,564) | (31,974) |
| Other expense (income), net | 67 | 34 | 26 | (177) |
| Total non-operating expenses, net | (536) | (2,016) | 15,464 | 56,898 |
| Income before income tax expense | 45,904 | 33,824 | 129,939 | 107,913 |
| Income tax expense | 344 | 150 | 771 | 533 |
| Net income | $45,560 | $33,674 | 129,168 | 107,380 |
| Comprehensive income | 45,560 | 33,674 | 129,168 | 107,380 |
| EBITDA(2) | $101,978 | $69,181 | $277,553 | $273,074 |
| Net income per limited partner unit: | ||||
| Basic | $0.85 | $0.71 | $2.41 | $2.32 |
| Diluted | $0.85 | $0.71 | $2.41 | $2.32 |
| Weighted average limited partner units outstanding: | ||||
| Basic | 53,467,306 | 47,109,008 | 53,505,419 | 46,248,003 |
| Diluted | 53,519,572 | 47,135,101 | 53,540,795 | 46,269,423 |
(1)This information is presented at a summary level for your reference. See the condensed consolidated statements of income and comprehensive income in Item 1. to this Quarterly Report on Form 10-Q for more details regarding our results of operations.
(2)For a definition of EBITDA see "Non-GAAP Measures" above.
We report operating results in four reportable segments:
Gathering and Processing
Wholesale Marketing and Terminalling
Storage and Transportation
Investments in Pipeline Joint Ventures
Decisions concerning the allocation of resources and assessment of operating performance are made based on this segmentation. Management measures the operating performance of each of its reportable segments based on the segment EBITDA.
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