The following is a summary of the Delek Logistics Partners, LP (DKL) Q1 2024 Earnings Call Transcript:

Financial Performance:

• Delek Logistics Partners' Q1 2024 EBITDA exceeded $100 million, up from $93.2 million in Q1 2023.

• The company reported distributable cash flow of $68 million with a DCF coverage ratio of 1.35x.

• The EBITDA for the Gathering and Processing segment grew to $57.8 million from $55.4 million in the same period of the previous year.

• The Storage and Transportation segment's EBITDA was $18.1 million, showing an increased performance from $13.4 million in Q1 2023.

• Using the debt and equity offering, the company improved its liquidity to approximately $800 million from about $300 million before the transactions.

Business Progress:

• The company had a successful performance from the Midland Gathering operations and consistent performance in the Delaware Basin operation.

• The company plans to increase investment in new connections in the Midland and Delaware Gathering systems.

• Delek approved the 45th consecutive increase in the quarterly distribution to $1.07 per unit, underlining the company's steady tradition of delivering value to its unitholders.

• Furthermore, infrastructure in the Delaware area is set to offer comprehensive crude, gas, and water gathering services to customers, thereby expecting future growth in the system.

More details: Delek Logistics Partners LP IR

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