Delek Logistics Partners reported adjusted EBITDA of $536 million for 2025, marking a record annual performance fueled by operational gains across its natural gas, crude oil, and water handling segments. The results reflected contributions from recent acquisitions, including H2O and Gravity, which expanded the partnership's service offerings. The company also increased throughput capacity at its Libbey Complex to 160 million standard cubic feet per day, underscoring continued investment in infrastructure expansion.
The partnership announced its 52nd consecutive quarterly distribution increase, raising the per-unit payment to $1.125. This marks another milestone in the company's track record of returning capital to unitholders. Additionally, management provided 2026 EBITDA guidance in the range of $520 million to $560 million, reflecting expectations for continued operational performance in the coming year.
A significant strategic development emerged from the earnings period: third-party business now represents 82% of total EBITDA, substantially reducing the partnership's financial dependence on sponsoring entity Delek US Holdings. This shift toward diversified revenue streams reflects management's deliberate effort to broaden the partnership's customer base and reduce concentration risk tied to a single sponsor.