Delek Logistics Partners, LP reported a significant increase in financial performance for the third quarter of 2025, with net revenues reaching $261.3 million, a 22.1% increase from $214.1 million in the same period last year. The partnership's net income also rose to $45.6 million, compared to $33.7 million in the prior year, resulting in a basic net income per unit of $0.85, up from $0.71. For the nine months ended September 30, 2025, net revenues totaled $757.6 million, a 3.7% increase from $730.8 million in 2024, while net income for the same period was $129.2 million, compared to $107.4 million in the previous year.
The partnership's financial growth was bolstered by the acquisitions of Gravity Water Intermediate Holdings and H2O Midstream, which contributed $20.7 million and $11 million in incremental revenue, respectively. Additionally, the DPG dropdown agreement, effective in the second quarter of 2025, added $15.5 million in revenue. However, the company faced challenges, including a decrease in revenue from its West Texas marketing operations and a shift in accounting practices that reclassified certain throughput fees as interest income rather than revenue.
Operationally, Delek Logistics has expanded its footprint in the Permian Basin and the Bakken region, enhancing its service offerings in water disposal and recycling. The partnership's total assets increased to $2.75 billion as of September 30, 2025, up from $2.04 billion at the end of 2024, driven by the acquisitions and capital expenditures. The company reported a total of 53.5 million common units outstanding, with a weighted average of 53.5 million units for the nine months ended September 30, 2025.
Looking ahead, Delek Logistics remains focused on organic growth and strategic acquisitions to enhance its market position and diversify its revenue streams. The partnership has emphasized its commitment to maintaining a strong cash flow and distribution growth, with a quarterly cash distribution of $1.120 per unit declared for November 2025, reflecting a 1.8% increase from the previous year. The company is also actively managing its debt, with total indebtedness reported at $2.31 billion, and is committed to optimizing its existing assets while expanding its customer base in response to evolving market conditions.
About Delek Logistics Partners, LP
Delek Logistics Partners, LP is a midstream energy company providing gathering, pipeline, transportation, storage, and terminalling services primarily for crude oil, natural gas, and water in the Permian Basin and Gulf Coast regions. Its business model relies on long-term contracts with Delek Holdings and third parties, offering integrated infrastructure solutions that support refining operations and third-party producers, emphasizing operational stability, strategic acquisitions, and sustainability initiatives.
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