Original source text
BRENTWOOD, Tenn.--(BUSINESS WIRE)--Delek Logistics Partners, LP (NYSE: DKL) ("Delek Logistics") today announced its financial results for the second quarter 2026.
“Delek Logistics delivered another strong quarter in 2026, underscoring the durability of our integrated crude, gas, and water platform and the growing contribution from third-party cash flows. As we continue positioning Delek Logistics for long-term success, we are pleased to announce that Mark Hobbs has transitioned into the role of Executive Vice President of DKL, and that Kris Kindrick has joined Delek Logistics Partners as Senior Vice President, Commercial. These changes reflect our ongoing investment in commercial leadership and the expertise needed to support our growth strategy,” said Avigal Soreq, President of Delek Logistics’ general partner.
“With the near completion of the integrated sour gas system at the Libby Complex and growing demand for our sour gas treating and acid gas injection capabilities, DKL is increasingly positioned as a differentiated Delaware Basin midstream platform with a clear path to long-term value creation.”
“We are reaffirming our 2026 EBITDA guidance of $520 to $560 million, supported by a more diversified cash flow profile, disciplined management of liquidity and leverage, and the strategic progress made to enhance DKL’s standalone financial profile. As we enter the second half of the year, we remain focused on executing against our growth opportunities, optimizing our asset base, and continuing to deliver attractive returns to unitholders," Mr. Soreq continued.
Delek Logistics reported second quarter 2026 net income of $28.9 million or $0.54 per diluted common limited partner unit. This compares to net income of $44.6 million, or $0.83 per diluted common limited partner unit, in the second quarter 2025. Net cash provided by operating activities was $71.2 million in the second quarter 2026 compared to $107.4 million in the second quarter 2025. Distributable cash flow, as adjusted was $80.5 million in the second quarter 2026, compared to $72.5 million in the second quarter 2025.
For the second quarter 2026, earnings before interest, taxes, depreciation and amortization ("EBITDA") was $120.0 million compared to $96.6 million in the second quarter 2025. The increase was primarily driven by performance from the DPG business which was associated with the prior year dropdown from Delek. The second quarter 2026 EBITDA included $0.1 million of transaction costs and $24.0 million of sales-type lease accounting impacts. For the second quarter 2026, Adjusted EBITDA was $143.5 million compared to $127.4 million in the second quarter 2025.
Distribution and Liquidity
On July 22, 2026, Delek Logistics declared a quarterly cash distribution of $1.135 per common limited partner unit for the second quarter 2026. This distribution will be paid on August 10, 2026 to unitholders of record on August 3, 2026. This represents a 1.8% increase over Delek Logistics’ second quarter 2025 distribution of $1.115 per common limited partner unit.
As of June 30, 2026, Delek Logistics had total debt of approximately $2.4 billion and cash of $13.7 million and a leverage ratio of approximately 4.23x. Additional borrowing capacity under the $1.3 billion third party revolving credit facility increased to $1.1 billion.
Consolidated Operating Results
Adjusted EBITDA in the second quarter 2026 was $143.5 million compared to $127.4 million in the second quarter 2025. The $16.1 million increase in Adjusted EBITDA reflects higher margins and increased interest income related to sales-type leases.
Gathering and Processing Segment
Adjusted EBITDA in the second quarter 2026 was $104.1 million compared with $78.0 million in the second quarter 2025. The increase was primarily due to increased margins.
Wholesale Marketing and Terminalling Segment
Adjusted EBITDA in the second quarter 2026 was $12.6 million, compared with second quarter 2025 Adjusted EBITDA of $23.3 million. The decrease was primarily due to the termination of the East Texas marketing agreement with Delek Holdings and a decrease in wholesale margins.
Storage and Transportation Segment
Adjusted EBITDA in the second quarter 2026 was $16.3 million, compared with $16.9 million in the second quarter 2025. The decrease was primarily due to decreased income from sales-type leases.
Investments in Pipeline Joint Ventures Segment
During the second quarter 2026, Adjusted EBITDA from equity method investments was $20.7 million compared to $17.0 million in the second quarter 2025. The increase was primarily due to increase in income from W2W, partially offset by a decrease in income from our investments in our other joint ventures.
Corporate
Adjusted EBITDA in the second quarter 2026 was a loss of $10.1 million compared to a loss of $7.9 million in the second quarter 2025.
Second Quarter 2026 Results | Conference Call Information
Delek Logistics will hold a conference call to discuss its second quarter 2026 results on Wednesday, August 5, 2026 at 11:30 a.m. Central Time. Investors will have the opportunity to listen to the conference call live by going to www.DelekLogistics.com. Participants are encouraged to register at least 15 minutes early to download and install any necessary software. An archived version of the replay will also be available at www.DelekLogistics.com for 90 days.
About Delek Logistics Partners, LP
Delek Logistics is a midstream energy master limited partnership headquartered in Brentwood, Tennessee. Through its owned assets and joint ventures located primarily in and around the Permian Basin, the Delaware Basin and other select areas in the Gulf Coast region, Delek Logistics provides gathering, pipeline and other transportation services primarily for crude oil and natural gas customers, storage, wholesale marketing and terminalling services primarily for intermediate and refined product customers, and water disposal and recycling services. Delek US Holdings, Inc. ("Delek US") owns the general partner interest as well as a majority limited partner interest in Delek Logistics, and is also a significant customer.
Safe Harbor Provisions Regarding Forward-Looking Statements
This press release contains forward-looking statements that are based upon current expectations and involve a number of risks and uncertainties. Statements concerning current estimates, expectations and projections about future results, performance, prospects, opportunities, plans, actions and events and other statements, concerns or matters that are not historical facts are “forward-looking statements,” as that term is defined under the federal securities laws. These statements contain words such as “possible,” “believe,” “should,” “could,” “would,” “predict,” “plan,” “estimate,” “intend,” “may,” “anticipate,” “will,” “if,” “expect” or similar expressions, as well as statements in the future tense. Forward-looking statements include, but are not limited to, anticipated performance and financial position; statements regarding future growth at Delek Logistics; distributions and the amounts and timing thereof; potential dropdown inventory; projected benefits of the Delaware Gathering, Permian Gathering, H2O Midstream and Gravity Water Midstream acquisitions; expected earnings or returns from joint ventures or other acquisitions; expansion projects; ability to create long-term value for our unit holders; financial flexibility and borrowing capacity; and distribution growth.
Investors are cautioned that the following important factors, including among others, may affect these forward-looking statements: the fact that a significant portion of Delek Logistics' revenue is derived from Delek US, thereby subjecting us to Delek US' business risks; political or regulatory developments, including tariffs, taxes and changes in governmental policies relating to crude oil, natural gas, refined products or renewables; risks and costs relating to the age and operational hazards of our assets including, without limitation, costs, penalties, regulatory or legal actions and other effects related to releases, spills and other hazards inherent in transporting and storing crude oil and intermediate and finished petroleum products; Delek Logistics' ability to realize cost reductions; the impact of adverse market conditions affecting the utilization of Delek Logistics' assets and business performance, including margins generated by its wholesale fuel business; risks and uncertainties with respect to the possible benefits of the Delaware Gathering, Permian Gathering, H2O Midstream and Gravity transactions, as well as from integration post-closing; risks related to exposure to Permian Basin crude oil, such as supply, pricing, gathering, production and transportation capacity; uncertainties regarding actions by OPEC and non-OPEC oil producing countries impacting crude oil production and pricing; an inability of Delek US to grow as expected as it relates to our potential future growth opportunities, including dropdowns, and other potential benefits; projected capital expenditures; scheduled turnaround activity; the results of our investments in joint ventures; and other risks as disclosed in our Annual Report on Form 10-K, Quarterly Reports on Form 10-Q and other reports and filings with the United States Securities and Exchange Commission.
Forward-looking statements should not be read as a guarantee of future performance or results and will not be accurate indications of the times at, or by, which such performance or results will be achieved.
Forward-looking information is based on information available at the time and/or management's good faith belief with respect to future events, and is subject to risks and uncertainties that could cause actual performance or results to differ materially from those expressed in the statements. Delek Logistics undertakes no obligation to update or revise any such forward-looking statements to reflect events or circumstances that occur, or which Delek Logistics becomes aware of, after the date hereof, except as required by applicable law or regulation.
Non-GAAP Disclosures
Our management uses certain "non-GAAP" operational measures to evaluate our operating segment performance and non-GAAP financial measures to evaluate past performance and prospects for the future to supplement our financial information presented in accordance with United States ("U.S.") Generally Accepted Accounting Principles ("GAAP"). These financial and operational non-GAAP measures are important factors in assessing our operating results and profitability and include:
Earnings before interest, taxes, depreciation and amortization ("EBITDA") - calculated as net income before interest, income taxes, depreciation and amortization and proportional interest, taxes, depreciation and amortization of equity method investments. Adjusted EBITDA - EBITDA adjusted for throughput and storage fees associated with the lease component of commercial agreements subject to sales-type lease accounting and certain identified infrequently occurring items, non-cash items, and items that are not attributable to or indicative of our on-going operations or that may obscure our underlying results and trends. Distributable cash flow - calculated as net cash flow from operating activities adjusted for changes in assets and liabilities, maintenance capital expenditures net of reimbursements, sales-type lease receipts, net of income recognized and other adjustments. Distributable cash flow, as adjusted - calculated as distributable cash flow adjusted to exclude significant, infrequently occurring transaction costs. Our EBITDA, Adjusted EBITDA, distributable cash flow and distributable cash flow, as adjusted, measures are non-GAAP supplemental financial measures that management and external users of our consolidated financial statements, such as industry analysts, investors, lenders and rating agencies, may use to assess:
Delek Logistics' operating performance as compared to other publicly traded partnerships in the midstream energy industry, without regard to historical cost basis or, in the case of EBITDA and Adjusted EBITDA, financing methods; the ability of our assets to generate sufficient cash flow to make distributions to our unitholders on a current and on-going basis; Delek Logistics' ability to incur and service debt and fund capital expenditures; and the viability of acquisitions and other capital expenditure projects and the returns on investment of various investment opportunities. We believe that the presentation of these non-GAAP measures provide information useful to investors in assessing our financial condition and results of operations and assists in evaluating our ongoing operating performance and liquidity for current and comparative periods. Non-GAAP measures should not be considered alternatives to net income, operating income, cash flow from operating activities or any other measure of financial performance or liquidity presented in accordance with U.S. GAAP. Non-GAAP measures have important limitations as analytical tools, because they exclude some, but not all, items that affect net earnings, net cash provided by operating activities and operating income. These measures should not be considered substitutes for their most directly comparable U.S. GAAP financial measures. Additionally, because EBITDA, Adjusted EBITDA, distributable cash flow and distributable cash flow, as adjusted may be defined differently by other partnerships in our industry, our definitions may not be comparable to similarly titled measures of other partnerships, thereby diminishing their utility. See the accompanying tables in this earnings release for a reconciliation of these non-GAAP measures to the most directly comparable GAAP measures. However, due to the inherent difficulty and impracticability of estimating certain amounts required by U.S. GAAP with a reasonable degree of certainty at this time without unreasonable effort and imprecision, we have not provided a reconciliation of forward-looking Adjusted EBITDA guidance.
Delek Logistics Partners, LP
Consolidated Balance Sheets (Unaudited)
(In thousands, except unit data)
June 30, 2026
December 31, 2025
ASSETS
Current assets:
Cash and cash equivalents
$
13,705
$
10,892
Accounts receivable
134,869
114,544
Accounts receivable from related parties
259,578
216,641
Lease receivable - affiliate
33,158
36,362
Inventory
23,708
17,913
Other current assets
5,129
4,416
Total current assets
470,147
400,768
Property, plant and equipment:
Property, plant and equipment
1,936,429
1,827,530
Less: accumulated depreciation
(460,068
)
(403,523
)
Property, plant and equipment, net
1,476,361
1,424,007
Equity method investments
335,690
340,070
Customer relationship intangibles, net
221,923
233,022
Other intangibles, net
145,700
137,439
Goodwill
12,203
12,203
Operating lease right-of-use assets
8,957
11,683
Finance lease right-of-use assets
29,256
27,802
Net investment in leases - affiliate
156,426
185,656
Other non-current assets
13,801
6,618
Total assets
$
2,870,464
$
2,779,268
LIABILITIES AND PARTNERS' (DEFICIT) EQUITY
Current liabilities:
Accounts payable
$
427,051
$
292,908
Interest payable
24,356
30,557
Excise and other taxes payable
21,194
16,569
Current portion of operating lease liabilities
2,170
3,027
Current portion of finance lease liabilities
9,834
8,310
Accrued expenses and other current liabilities
4,690
5,122
Total current liabilities
489,295
356,493
Non-current liabilities:
Long-term debt, net of current portion
2,372,717
2,344,420
Operating lease liabilities, net of current portion
2,582
3,551
Finance lease liabilities, net of current portion
20,494
20,289
Asset retirement obligations
26,157
24,278
Other non-current liabilities
28,510
24,123
Total non-current liabilities
2,450,460
2,416,661
Total liabilities
2,939,755
2,773,154
Partners' (deficit) equity:
Common unitholders - public; 19,688,283 units issued and outstanding at June 30, 2026 (19,643,923 at December 31, 2025)
488,877
510,376
Common unitholders - Delek Holdings; 33,508,831 units issued and outstanding at June 30, 2026, exclusive of 359,372 issued units held by the Partnership in Treasury (33,868,203 issued and outstanding at December 31, 2025)
(558,168
)
(504,262
)
Total partners' (deficit) equity
(69,291
)
6,114
Total liabilities and partners' (deficit) equity
$
2,870,464
$
2,779,268
Delek Logistics Partners, LP
Consolidated Statement of Income and Comprehensive Income (Unaudited)
(In thousands, except unit and per unit data)
Three Months Ended June 30,
Six Months Ended June 30,
2026
2025
2026
2025
Net revenues:
Affiliate
$
204,764
$
114,083
$
371,454
$
240,404
Third party
179,996
132,267
310,772
255,876
Net revenues
384,760
246,350
682,226
496,280
Cost of sales:
Cost of materials and other - affiliate
148,955
84,411
257,140
174,377
Cost of materials and other - third party
90,007
34,950
150,433
74,036
Operating expenses (excluding depreciation and amortization presented below)
42,794
37,525
89,390
78,155
Depreciation and amortization
36,914
25,879
72,267
52,377
Total cost of sales
318,670
182,765
569,230
378,945
Operating expenses related to wholesale business (excluding depreciation and amortization presented below)
543
549
992
904
General and administrative expenses
3,280
8,944
7,554
17,808
Depreciation and amortization
491
1,218
1,639
2,436
Other operating expense (income), net
(120
)
438
906
(3,848
)
Total operating costs and expenses
322,864
193,914
580,321
396,245
Operating income
61,896
52,436
101,905
100,035
Interest income
(22,545
)
(23,538
)
(54,830
)
(46,085
)
Interest expense
70,090
41,711
121,682
82,812
Income from equity method investments
(14,491
)
(10,536
)
(26,114
)
(20,686
)
Other income, net
(29
)
(20
)
(56
)
(41
)
Total non-operating expenses, net
33,025
7,617
40,682
16,000
Income before income taxes
28,871
44,819
61,223
84,035
Income tax expense
—
245
—
427
Net income
28,871
44,574
61,223
83,608
Comprehensive income
28,871
44,574
$
61,223
$
83,608
Net income per unit:
Basic
$
0.54
$
0.83
$
1.15
$
1.56
Diluted
$
0.54
$
0.83
$
1.15
$
1.56
Weighted average common units outstanding:
Basic
53,175,413
53,445,803
53,343,964
53,524,792
Diluted
53,240,181
53,473,271
53,430,114
53,553,227
Delek Logistics Partners, LP
Condensed Consolidated Statements of Cash Flows (In thousands)
Three Months Ended June 30,
Six Months Ended June 30,
(Unaudited)
2026
2025
2026
2025
Cash flows from operating activities
Net cash provided by operating activities
$
71,198
$
107,423
$
241,574
$
138,973
Cash flows from investing activities
Net cash used in investing activities
(59,793
)
(112,916
)
(109,091
)
(347,683
)
Cash flows from financing activities
Net cash (used in) provided by financing activities
(7,607
)
4,822
(129,670
)
204,762
Net decrease in cash and cash equivalents
3,798
(671
)
2,813
(3,948
)
Cash and cash equivalents at the beginning of the period
9,907
2,107
10,892
5,384
Cash and cash equivalents at the end of the period
$
13,705
$
1,436
$
13,705
$
1,436
Delek Logistics Partners, LP
Reconciliation of Amounts Reported Under U.S. GAAP (Unaudited)
(In thousands)
Three Months Ended June 30,
Six Months Ended June 30,
2026
2025
2026
2025
Reconciliation of Net Income to EBITDA:
Net income
$
28,871
$
44,574
$
61,223
$
83,608
Add:
Income tax expense
—
245
—
427
Depreciation and amortization
37,405
27,097
73,906
54,813
Proportional interest, taxes, depreciation and amortization from equity-method investments
6,219
6,505
12,915
13,170
Interest expense, net
47,545
18,173
66,852
36,727
EBITDA
120,040
96,594
214,896
188,745
Throughput and storage fees for sales-type leases
24,033
27,406
59,414
55,112
DPG Inventory Impact
(34
)
900
265
900
Transaction costs
138
2,496
1,299
5,845
Unrealized inventory/commodity hedging (gain) loss where the hedged item is not yet recognized in the financial statements
$
(716
)
$
—
(129
)
—
Adjusted EBITDA
$
143,461
$
127,396
$
275,745
$
250,602
Reconciliation of net cash from operating activities to distributable cash flow:
Net cash provided by operating activities
$
71,198
$
107,423
$
241,574
$
138,973
Changes in assets and liabilities
14,744
(37,602
)
(79,488
)
(5,522
)
Non-cash lease expense
(1,747
)
(1,352
)
(2,848
)
(3,619
)
Net distributions from equity method investments in investing activities
3,064
3,443
8,089
5,570
Regulatory and sustaining capital expenditures not distributable
(9,552
)
(4,598
)
(13,628
)
(5,243
)
Reimbursement from Delek Holdings for capital expenditures
10
10
22
19
Sales-type lease receipts, net of income recognized
1,488
3,868
4,584
9,027
Other non-cash adjustments
1,164
(1,154
)
297
2,538
Distributable Cash Flow
80,369
70,038
158,602
141,743
Transaction costs
138
2,496
1,299
5,845
Distributable Cash Flow, as adjusted (1)
$
80,507
$
72,534
$
159,901
$
147,588
Delek Logistics Partners, LP
Distributable Coverage Ratio Calculation (Unaudited)
(In thousands)
Three Months Ended June 30,
Six Months Ended June 30,
2026
2025
2026
2025
Distributions to partners of Delek Logistics, LP
$
60,379
$
59,612
$
120,459
$
118,932
Distributable cash flow
$
80,369
$
70,038
$
158,602
$
141,743
Distributable cash flow coverage ratio (1)
1.33x
1.17x
1.32x
1.19x
Distributable cash flow, as adjusted
80,507
72,534
$
159,901
$
147,588
Distributable cash flow coverage ratio, as adjusted (2)
1.33x
1.22x
1.33x
1.24x
Delek Logistics Partners, LP
Segment Data (Unaudited)
(In thousands)
Three Months Ended June 30, 2026
Gathering and
Processing
Wholesale Marketing and Terminalling
Storage and Transportation
Investments in
Pipeline Joint
Ventures
Corporate and
Other
Consolidated
Net revenues:
Affiliate
$
63,137
$
115,853
$
25,774
$
—
$
—
$
204,764
Third party
132,002
46,875
1,119
—
—
179,996
Total revenue
$
195,139
$
162,728
$
26,893
$
—
$
—
$
384,760
Adjusted EBITDA
$
104,058
$
12,552
$
16,280
$
20,710
$
(10,139
)
$
143,461
Transaction costs
—
—
—
—
138
138
DPG Inventory Impact
(34
)
—
—
—
—
(34
)
Unrealized inventory/commodity hedging (gain) loss where the hedged item is not yet recognized in the financial statements
(716
)
—
—
—
—
(716
)
Throughput and storage fees for sales-type leases
11,422
3,942
8,669
—
—
24,033
Segment EBITDA
$
93,386
$
8,610
$
7,611
$
20,710
$
(10,277
)
120,040
Depreciation and amortization
$
33,870
$
762
$
2,000
$
—
$
773
37,405
Proportional interest, taxes, depreciation and amortization from equity-method investments
$
—
$
—
$
—
$
6,219
$
—
6,219
Interest income
$
(10,004
)
$
(4,089
)
$
(8,452
)
$
—
$
—
(22,545
)
Interest expense
$
—
$
—
$
—
$
—
$
70,090
70,090
Income tax expense
—
Net income
$
28,871
Six Months Ended June 30, 2026
Gathering and
Processing
Wholesale Marketing and Terminalling
Storage and Transportation
Investments in
Pipeline Joint
Ventures
Corporate and
Other
Consolidated
Net revenues:
Affiliate
$
112,383
$
209,779
$
49,292
$
—
$
—
$
371,454
Third party
237,432
70,745
2,595
—
—
310,772
Total revenue
$
349,815
$
280,524
$
51,887
$
—
$
—
$
682,226
Adjusted EBITDA
$
186,986
$
26,866
$
41,442
$
39,029
$
(18,578
)
$
275,745
Transaction costs
—
—
—
—
1,299
1,299
DPG Inventory Impact
265
—
—
—
—
265
Unrealized inventory/commodity hedging (gain) loss where the hedged item is not yet recognized in the financial statements
(129
)
—
—
—
—
(129
)
Throughput and storage fees for sales-type leases
22,844
8,494
28,076
—
—
59,414
Segment EBITDA
$
164,006
$
18,372
$
13,366
$
39,029
$
(19,877
)
214,896
Depreciation and amortization
67,111
1,530
3,725
—
1,540
73,906
Proportional interest, taxes, depreciation and amortization from equity-method investments
—
—
—
12,915
—
12,915
Interest income
(20,162
)
(8,106
)
(26,562
)
—
—
(54,830
)
Interest expense
—
—
—
—
121,682
121,682
Income tax expense
—
Net income
$
61,223
Three Months Ended June 30, 2025
Gathering and Processing
Wholesale Marketing and Terminalling
Storage and Transportation
Investments in
Pipeline Joint
Ventures
Corporate and Other
Consolidated
Net revenues:
Affiliate
$
39,098
$
52,367
$
22,618
$
—
$
—
$
114,083
Third party
78,669
52,248
1,350
—
—
132,267
Total revenue
$
117,767
$
104,615
$
23,968
$
—
$
—
$
246,350
Adjusted EBITDA
$
77,984
$
23,307
$
16,928
$
17,041
$
(7,864
)
$
127,396
Transaction costs
—
—
—
—
2,496
2,496
DPG Inventory Impact
900
—
—
—
—
900
Throughput and storage fees not included in revenue
13,137
4,368
9,901
—
—
27,406
Segment EBITDA
$
63,947
$
18,939
$
7,027
$
17,041
$
(10,360
)
96,594
Depreciation and amortization
$
24,085
$
952
$
1,301
$
—
$
759
27,097
Proportional interest, taxes, depreciation and amortization from equity-method investments
$
—
$
—
$
—
$
6,505
$
—
6,505
Interest income
(11,113
)
(4,109
)
(8,316
)
—
—
(23,538
)
Interest expense
$
—
$
—
$
—
$
—
$
41,711
41,711
Income tax expense
245
Net income
$
44,574
Six Months Ended June 30, 2025
Gathering and
Processing
Wholesale Marketing and Terminalling
Storage and Transportation
Investments in
Pipeline Joint
Ventures
Corporate and
Other
Consolidated
Net revenues:
Affiliate
$
77,665
$
117,075
$
45,664
$
—
$
—
$
240,404
Third party
158,705
94,239
2,932
—
—
255,876
Total revenue
$
236,370
$
211,314
$
48,596
$
—
$
—
$
496,280
Adjusted EBITDA
$
159,059
$
41,057
$
31,399
$
33,856
$
(14,769
)
$
250,602
Transaction costs
—
—
—
—
5,845
5,845
DPG Inventory Impact
900
—
—
—
—
900
Throughput and storage fees not included in revenue
26,273
8,881
19,958
—
—
55,112
Segment EBITDA
$
131,886
$
32,176
$
11,441
$
33,856
$
(20,614
)
188,745
Depreciation and amortization
$
48,808
$
1,904
$
2,582
$
—
$
1,519
54,813
Proportional interest, taxes, depreciation and amortization from equity-method investments
$
—
$
—
$
—
$
13,170
$
—
13,170
Interest income
(22,478
)
(8,270
)
(15,337
)
—
—
(46,085
)
Interest expense
$
—
$
—
$
—
$
—
$
82,812
82,812
Income tax expense
427
Net income
$
83,608
Delek Logistics Partners, LP
Segment Capital Spending
(In thousands)
Three Months Ended June 30,
Six Months Ended June 30, 2026
Gathering and Processing
2026
2025
2026
2025
Regulatory capital spending
$
1,987
$
—
$
2,875
$
—
Sustaining capital spending
6,686
2,627
9,602
2,640
Growth capital spending
50,950
114,591
96,665
185,889
Segment capital spending
59,623
117,218
109,142
188,529
Wholesale Marketing and Terminalling
Regulatory capital spending
10
—
74
11
Sustaining capital spending
67
65
80
144
Growth capital spending
373
—
407
—
Segment capital spending
450
65
561
155
Storage and Transportation
Regulatory capital spending
15
799
13
1,020
Sustaining capital spending
786
1,107
983
1,428
Segment capital spending
801
1,906
996
2,448
Consolidated
Regulatory capital spending
2,012
799
2,962
1,031
Sustaining capital spending
7,539
3,799
10,665
4,212
Growth capital spending
51,323
114,591
97,072
185,889
Total capital spending
$
60,874
$
119,189
$
110,699
$
191,132
Delek Logistics Partners, LP
Segment Operating Data (Unaudited)
Three Months Ended June 30,
Six Months Ended June 30,
2026
2025
2026
2025
Gathering and Processing Segment:
Throughputs (average bpd)
El Dorado Assets:
Crude pipelines (non-gathered)
74,197
71,220
68,068
66,580
Refined products pipelines to Enterprise Systems
52,059
53,597
48,379
54,797
El Dorado Gathering System
9,737
9,983
9,485
10,151
East Texas Crude Logistics System
34,259
33,101
30,791
30,027
Midland Gathering System
209,957
207,183
214,057
209,059
Plains Connection System
176,680
158,881
194,421
169,004
Delaware Gathering Assets:
Natural Gas Gathering and Processing (Mcfd(1))
80,715
60,940
72,355
60,378
Crude Oil Gathering (average bpd)
157,156
137,167
143,380
129,737
Water Disposal and Recycling (average bpd)
105,396
116,504
108,269
122,468
Midland Water Gathering System:
Water Disposal and Recycling (average bpd) (3)
701,435
600,891
679,223
613,817
Wholesale Marketing and Terminalling Segment:
East Texas - Tyler Refinery sales volumes (average bpd) (2)
—
67,516
—
67,695
West Texas marketing throughputs (average bpd)
4,191
10,757
7,960
10,791
West Texas gross margin per barrel
$
2.88
$
4.12
$
3.65
$
2.88
Terminalling throughputs (average bpd) (4)
159,363
150,971
147,619
144,030
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