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Delek Logistics Misses on Earnings, But Management Is Bullish

yemin-uzi DELEK

 

Delek Logistics, a Tennessee-based master limited partnership formed by Delek U.S. holdings in 2012, reported a 12 cent earnings miss with revenues off from Wall Street’s estimates by $34.44 million, according to Seeking Alpha. Uzi Yemin, Chairman and CEO, pointed out that distributable cash flow increased 32% year over year. Volumes increased in the Lion Pipeline System, there was margin improvement in the West Texas wholesale business and acquisitions have been additive to earnings.

The company intends to expand its holdings in Tyler, Texas, with improved efficiency in production and another acquisition planned. Yemin expects a $25 million to $35 million increase to EBITDA by 2015.

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