DKL - Earnings call 3 2023 | Delek Logistics Partners, LP

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Operator

Good day, and welcome to the Delek Logistics Partners' Third Quarter 2023 Conference Call. [Operator Instructions] Please note this event is being recorded. I would now like to turn the conference over to Rosy Zuklic, Vice President of Investor Relations. Please go ahead.

Rosy Zuklic

Good day, and welcome to the Delek Logistics Partners' Third Quarter Earnings Conference Call. Participants on today's call will include Avigal Soreq, President; Joseph Israel, EVP Operations; Reuven Spiegel, EVP and Chief Financial Officer; and Odely Sakazi, SVP, Delek Logistics.

outlook. conference federal contain limitation, securities guidance future this defined statements statements reminder, and the under laws, business a call forward-looking will as regarding As including without may These cause our statements and involve uncertainties forecast. actual to differ risks results from that

obligation information, report the risk please along filed the on company's turn this to information, for with release Form in over call. statements factors of Form assumes no to Avigal? on with any The to annual SEC, or filed update XX-Q recently report associated which refer the XX-K their more company forward-looking discussed respective the Avigal the as speak For remarks. dates. I'll opening most and now press quarterly with call

Avigal Soreq

delivered million over Partners quarter Thank Delek another in you, $XX Logistics with EBITDA. record Rosy.

been pleased our the consistent see assets. and to performance team We of have

be third-party that a of a very to focus growing objectives, record to are of back We opportunities. Midland quarter a dedication our system. contracts MVC throughput on is result our able to This in growth investment our as achieved result keeping Gathering and to revenues, the multiyear proud a maintaining strategic unitholders. company's this deliver value the

our Delaware business. we able the objective, increasing were With and diversifying to system, stream support revenue Gathering third-party

hand the to quarter Directors over for quarterly to limited of of that our to to are Given of our team's QX partner third this exceed we strong now recently year, a in our commitment Council, the unit demonstrating Reuven. performance ability operational it run this proud distribution. I increasing excellence. distribution increase highlighting National this received excellence $X.XXX rate and On year by operational from year. I'm say confident to quarterly will quarterly to our in DKL safety quarter, XX, X.X% dedication award $XXX per Board the Safety very October EBITDA from million the our of in prior approved also

Reuven Spiegel

'XX. $XX was quarter EBITDA with you, for 'XX for compared million Thank million DKL $XX of in third for Total Avigal. period the same the

'XX, million For flow DCF quarter $XX cash was X.XXx. coverage the of was third the distributable and ratio

and $XX onetime quarter was for was benefited EBITDA Gathering $XX from million, 'XX the the million. EBITDA which quarter third Processing of a For The credit. this segment,

the higher Excluding margins quarter average million This 'XX. from quarter was the due improved Midland third than EBITDA higher in compared last 'XX in year our utilization third 'XX. slightly barrels this, was Terminalling Transportation of averaged results per quarter our Marketing in segment toward more XXX,XXX were joint in day 'XX. in $XX third and third increase quarter increased quarter to the the approximately quarter in third EBITDA barrels $XX than venture benefited of assets. Throughput terminaling due The million million from throughput for and third compared 'XX, from wholesale. The Storage segment million the up segment to twice to quarter segment the was 'XX. $XX XXX,XXX the in Gathering of of with quarter, pipeline the of and for million operations recent industry-wide investment $X per Wholesale second of day quarter fee escalations. the of $XX And The contributed Permian lastly,

expenditures. Moving on to capital

namely Midland systems. capital million. growth 'XX and in advancing Delaware that new quarter Gathering spend for the of projects, Third spending was was connection $XX Most both

of open the funded we $XX million. With $XX range capital is net with in to expect questions. to $XX the to be in the capital million, expenditures producers. of million the of to for the partially be expense by 'XX, $XX $XX can for that, this, Including growth CapEx we year million For approximately call million range

Operator

Doug first Citi. comes Our question Irwin with Instructions] from [Operator

Douglas Irwin

volumes. Permian with I just start to want

if but You around extreme the look And little so, constraints talk issues some saw some same at issues quarter, resolved? some cycle? have bit. the I'm about heat peers we've you Midland these this compression [indiscernible] curious Delaware, if really of just strong results been if lagged and in a this it that the heard

Avigal Soreq

Thanks well, are on the jumping are the specific Doug, we We've it's going give call. for not Avigal. nicely. investment to is Permian going gathering we some and highlights. very to system And you over but numbers, and the yielding be on seen our we the legacy pleased very with are base years DPG have very performing and acreage the are we us

So wanted. absolutely that going as we is investment

On the DPG seeing X former Bear, operation. we're a stable very also

in team the with of pleased trending are direction you give and more the color. for allow Odely it's assets right to and We the the progress I sure.

If you can?

Odely Sakazi

again. Avigal. Yes. This you Odely. good is Doug, you, And hear to Thank

had year. So last This as seen, and mentioned, both you the also from deployment the you've talking segments Midland last X gathering, we previous about basically us also last quarter. year is double around our volume got year we almost this capital those exceeded as benefiting than and

that something this weather as that than others last the to still to area from also think, also I availability side is but So producers. on both both around also face the also you also issue to is, impact in electricity impact lot we our infrastructure Delaware heard the with better and that. And to the benefit both probably we the kind last on a year of solid, than lower to as also what for question And associated in built producers years, and the start of our slightly and have we a and from around recent situation, heat the your start and well DPG us Gathering assets, we been quarter. refinery volume DG benefit perform storm able this close time those we during and very so excessive

that that's kind said So impact With [Technical that Difficulty]. everything. something of

Operator

bringing closing and Avigal would This our turn Soreq technical like in am remarks. I for having back conference to I Avigal closing any concludes for the to were over session. question-and-answer Soreq any We difficulties, remarks.

Avigal Soreq

in and we is to here prepared are worked Dave. you you, next over employees you the talking the quarter. hard. that and forward very unitholders, Dave, the again excited Board our call. the you Thank Directors, you, where Thank and to about DKL so of and Thank room for for the looking team Thank

Operator

The presentation. conference attending has today's for concluded. now Thank you

disconnect. You may now

Delek Logistics Partners (DKL) 7 Nov 232023 Q3 Earnings call transcript