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Delek Logistics Partners

Delek Logistics Partners (DKL) Q2 2026 Earnings

Reported Aug 5, 2026 at 6:35 AM ET · SEC Source

Q2 26 EPS

$0.54

MISS 51.79%

Est. $1.12

Q2 26 Revenue

$384.8M

vs S&P Since Q2 26

-2.3%

TRAILING MARKET

DKL -1.9% vs S&P +0.4%

Market Reaction

Did DKL Beat Earnings? Q2 2026 Results

Delek Logistics Partners, LP delivered a sharply disappointing second quarter, with earnings per unit of $0.54 falling 51.79% short of the $1.12 consensus estimate even as revenue surged 56.2% year-over-year to $384.76 million. The headline profit mi… Read more Delek Logistics Partners, LP delivered a sharply disappointing second quarter, with earnings per unit of $0.54 falling 51.79% short of the $1.12 consensus estimate even as revenue surged 56.2% year-over-year to $384.76 million. The headline profit miss was driven primarily by a steep rise in interest expense, which climbed to $70.09 million from $41.71 million a year ago, a direct consequence of the debt burden taken on to fund acquisitions including the DPG dropdown from Delek Holdings. Beneath the earnings shortfall, however, the operational story was more constructive; Adjusted EBITDA rose to $143.46 million from $127.40 million, led by the Gathering and Processing segment, where crude gathering volumes hit a record 157,156 barrels per day. Distributable cash flow improved to $80.51 million, supporting the partnership's 54th consecutive quarterly distribution increase to $1.14 per unit. Investors will be closely watching the ramp of the Libby Gas Complex sour gas facility as a key catalyst, while management reiterated full-year 2026 EBITDA guidance of $520 million to $560 million.

Key Takeaways

  • • DPG business contribution from prior year dropdown from Delek Holdings
  • • Record crude oil gathered volumes at DDG reflecting strong commercial execution
  • • Higher margins in Gathering and Processing segment
  • • Increased interest income related to sales-type leases
  • • Termination of East Texas marketing agreement with Delek Holdings reduced Wholesale Marketing and Terminalling results
  • • Decreased wholesale margins
  • • Increased income from W2W joint venture

DKL Forward Guidance & Outlook

Delek Logistics reiterated its full-year 2026 EBITDA guidance of $520 million to $560 million, supported by a more diversified cash flow profile, disciplined management of liquidity and leverage, and strategic progress to enhance DKL's standalone financial profile. The partnership is nearing completion of the integrated sour gas processing, treating, and handling solution at the Libby Gas Complex, with growing demand for sour gas treating and acid gas injection capabilities positioning DKL as a differentiated Delaware Basin midstream platform.

24/7 Wall St

DKL YoY Financials

Q2 2026 vs Q2 2025, source: SEC Filings

24/7 Wall St

DKL Revenue by Segment

With YoY comparisons, source: SEC Filings

Q1 25 Q2 26

“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.”

— Avigal Soreq, Q2 2026 Earnings Press Release

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