Delek Logistics Partners LP published the transcript of its fourth-quarter 2025 earnings call. The call featured President, CEO and Director Avigal Soreq; Executive VP of Special Projects and Director Reuven Avraham Spiegel; and Executive VP, Deputy CFO and Chief Accounting Officer Robert Wright. Management highlighted record 2025 performance, including adjusted EBITDA of $536 million, and issued 2026 adjusted EBITDA guidance of $520 million to $560 million. “2025 was an exceptional year for Delek Logistics, highlighted by the achievement of a record adjusted EBITDA of $536 million,” Soreq said, adding that the partnership is “well positioned for 2026.” Executives discussed progress across natural gas, crude and water in the Permian Basin, including commissioning the Libby 2 gas processing plant and ongoing work to add a comprehensive sour gas handling and acid gas injection solution. Spiegel said the company is “working to bring an industry-leading sour gas solution in the Delaware Basin” and expects “a step change in our utilization once our AGI and sour gas gathering infrastructure is fully complete.” Wright noted the partnership ended 2025 with about $940 million of available liquidity. The partnership also announced its 52nd consecutive quarterly distribution increase, raising the distribution to $1.125 per unit. “Our Board of Directors have approved our 52nd consecutive quarterly distribution increase,” Soreq said, calling it “an extraordinary achievement.” The call also addressed increasing economic separation from sponsor Delek US, with Spiegel saying, “In 2026, we expect approximately 80% of our run rate EBITDA will come from third parties,” while Wright said asset transactions with Delek US were “not material” to EBITDA and that the companies are “materially complete” aligning assets under the “right roof.” The full transcript can be accessed through the link below.
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