Delek Logistics Raises 2026 Adjusted EBITDA Guidance Floor by $10 Million

Delek Logistics Partners LP raised the floor of its 2026 adjusted EBITDA outlook by $10 million after third-quarter net income increased, while the measure remained nearly flat year over year.

The partnership released its results Friday, Nov. 6, for the quarter ended Sept. 30. Its 2026 adjusted EBITDA range is now $530 million to $560 million, compared with $520 million to $560 million previously. The upper limit is unchanged, so the increase applies to the forecast floor.

About $15 million of the 2026 outlook comes from organic growth projects. Delek Logistics expects its 2026 growth capital program to add another $60 million in adjusted EBITDA growth during 2027.

“With the confidence in the business, we are increasing our 2026 adjusted EBITDA guidance of $520 to $560 million to $530 to $560 million,” said Avigal Soreq, president of Delek Logistics’ general partner.

For the quarter, net income totaled $47.418 million, up from $45.560 million a year earlier, a 4.1% increase. Earnings were $0.85 per diluted unit in both periods. Net revenues climbed to $372.443 million from $261.277 million, a 42.5% rise.

Adjusted EBITDA rose by $0.4 million, or about 0.3%, to $142.9 million from $142.5 million. Adjusted distributable cash flow fell to $73.1 million from $74.1 million, a 1.3% decline. Adjusted EBITDA measures earnings before interest, taxes, depreciation and amortization, with specified adjustments.

Construction of the integrated sour-gas system at the Libby complex is complete, and first acid-gas injection took place during the quarter. The facilities are still being commissioned.

At Sept. 30, Delek Logistics had approximately $2.1 billion in total debt and $49 million in cash. Its leverage ratio was 3.85x, down from 4.44x at Sept. 30, 2025. The midstream partnership’s operations and joint ventures are primarily in the Permian Basin, Delaware Basin and Gulf Coast. Delek US Holdings owns its general partner and a majority limited partner interest and is also a significant customer.

Delek Logistics declared a third-quarter distribution of $1.14 per common limited partner unit Oct. 23. Payment is scheduled for Tuesday, Nov. 10, to unitholders of record Tuesday, Nov. 3.