Delek Logistics Partners (NYSE:DKL) reported fourth-quarter net income of $47.3 million on Friday, marking a significant year-over-year increase from the $35.3 million recorded in late 2024.
On a per-unit basis, the Brentwood, Tennessee-based master limited partnership earned $0.88 per diluted common limited partner unit, up from $0.68 a year ago.
The partnership’s operational strength was reflected in its adjusted EBITDA, which climbed to $142.3 million for the period, compared to $114.3 million in the fourth quarter of 2024.
The results included a $44.1 million impact from sales-type lease accounting, underscoring the evolving structure of the partnership's long-term service agreements.
Distributable cash flow, a key metric for midstream entities that measures the ability to pay out distributions to unit holders, rose to $73.3 million on an adjusted basis.
This compares to $69.5 million in the prior-year period.
While net cash provided by operating activities saw a slight dip to $43.2 million from $49.9 million, the partnership maintained a robust coverage ratio to support its quarterly distributions.