Delek Logistics Q2 net income $41.1M, EBITDA $102.4M; announces $230M H2O Midstream acquisition

Delek Logistics Partners, LP

Net income $41.1M ($0.87/diluted unit) vs $31.9M ($0.73) in Q2 2023.
EBITDA $102.4M, up from $92.8M; distributable cash flow $67.8M, coverage ratio 1.32x.
Acquired H2O Midstream for $230M; also buying Delek US' Wink to Webster pipeline interest.
Quarterly distribution raised to $1.090/unit, 1.9% sequential increase; 46th consecutive increase.
Leverage ratio improved to 3.81x from 4.34x at year-end 2023; total debt $1.57B.

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