Delek Logistics Partners, LP Q1 FY2026 earnings call

• Abigail noted DKL reported $132 million in adjusted EBITDA, confident in achieving full year EBITDA guidance. Strong execution in first quarter despite Winterstone Fern challenges. Board approved 53rd consecutive quarterly distribution increase to $1.13 per unit. - Reuven shared excitement about future, third-party business strength, progress on sour gas solution, crude volumes recovery, water business performance. - Robert mentioned strong momentum, outperformed expectations despite $10M headwind from Winter Storm Fern, updated on balance sheet, capital expenditures, and segment adjusted EBITDA details.

Adjusted EBITDA for the quarter was approximately $132 million. In the gathering and processing segment, adjusted EBITDA was $83 million. Wholesale marketing and termling adjusted EBITDA was $14 million. Storage and transportation adjusted EBITDA was $25 million. Investments in pipeline joint venture segment contributed $18 million. Gas: Successfully completed drilling of first AGI well, moving toward comprehensive sour gas solution. Crude: DPG and DGG crude gathering operations strong despite winter storm fern challenges, increased gathering capacity. Water: Performs strongly, exploring additional opportunities. Revenue contribution: In 2026, ~80% of run rate EBITDA expected from third parties.

• Reaffirmed full year 2026 EBITDA guidance to range of $520 million to $560 million. - Optimism driven by macro environment (Brent-TI premium change, U.S. shale as safe harbor) and execution strategy. - Gas utilization expected to reach capacity in next 3 - 6 months.

• Forward - looking statements involve risks and uncertainties that may cause actual results to differ materially from comments. Factors in SEC filings could cause such differences.

Q: Started with guidance range and macro environment, asked about producer feedback and commodity exposure.

A: Optimism from macro (Brent - TI premium change, U.S. shale as safe harbor) and execution. Water performing above expectations, crude solid, gas to ramp up in second half.

Q: Follow - up on gas ramp, timing of gathering side work and next expansion.

A: Drilled first AGI well, focusing on completing infrastructure, gas utilization expected in next 3 - 6 months, looking at ways to add processing capacity.

Q: Talked about water growth, systems, materiality.

A: Combination of crude, water, gas giving tailwind, looking at creative solutions for water gathering, treatment, disposal.

Q: Asked about winter storm impacts on volumes and Waha related shut - ins.

A: Winter storm impacts on crude, limited impact on water, Waha important for permit story, residue gas pipelines to relieve pressure in second half, positive for DKL with producer capacity increase