Delek Logistics Posts Record EBITDA, Raises Distribution for 54th Time
DKL hit $144M in adjusted EBITDA in Q2 2026 and lifted its quarterly payout to $1.135 per unit for the 54th straight increase.
Delek Logistics Partners LP delivered a record $144 million in adjusted EBITDA for the second quarter of 2026, the company announced in its latest earnings call, while simultaneously boosting its quarterly distribution to $1.135 per unit — marking the 54th consecutive quarter it has raised that payout to unitholders.
The midstream partnership's Gathering and Processing segment drove much of the outperformance, with both Delaware crude gathering and produced water volumes reaching all-time highs. The company is also approaching the finish line on the Libby Gas Complex, a project expected to contribute meaningfully to future earnings once operational.
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Despite the headline strength, Delek Logistics acknowledged that its leverage ratio climbed during the period, a byproduct of ongoing capital investments in growth projects. Certain business segments also posted sequential declines, providing a note of caution beneath the record-level headline numbers.
To manage its debt load, the company executed a refinancing that is designed to reduce interest expenses and free up cash flow. Management reaffirmed full-year guidance, signaling confidence that the growth capital program will generate significant incremental EBITDA in coming quarters as new assets come online.
The combination of record operating metrics, an unbroken distribution-growth streak, and a clear near-term catalyst in the Libby Gas Complex positions DKL as a closely watched name in the midstream MLP space heading into the second half of 2026. Continue reading at Yahoo! Finance Canada.
