Delek Logistics Reports Second Quarter 2026 Results

About this update from Delek Logistics Partners, L.p.

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   (1) Distributable cash flow adjusted to exclude transaction costs primarily associated with the H2O Midstream Acquisition and Gravity Acquisition. 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 (1) Distributable cash flow coverage ratio is calculated by dividing distributable cash flow by distributions to be paid in each respective period. (2) Distributable cash flow coverage ratio, as adjusted is calculated by dividing distributable cash flow, as adjusted for transaction costs by distributions to be paid in each respective period.   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 (1) Mcfd - average thousand cubic feet per day. (2) East Texas Marketing agreement was terminated on January 1, 2026. (3) Includes freshwater sales of 119,653 bpd and 119,383 bpd for the three and six months ended June 30, 2026, respectively, and 14,765 bpd and 13,697 bpd for the three and six months ended June 30, 2025, respectively. (4) Consists of terminalling throughputs at our Tyler, Big Spring, Big Sandy and Mount Pleasant, Texas terminals, our El Dorado and North Little Rock, Arkansas terminals and our Memphis and Nashville, Tennessee terminals.   View source version on businesswire.com: https://www.businesswire.com/news/home/20260805115448/en/

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