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Operator
Good day, and welcome to the Delek Logistics fourth-quarter 2020 earnings conference call. [Operator Instructions]. Please note, today s event is being recorded. I would now like to turn the conference over to Blake Fernandez.
Please go ahead, sir.
Senior Vice President of Investor Relations & Market Intelligence
Good morning. I would like to thank everyone for joining us on this webcast to discuss Delek Logistics Partners fourth-quarter 2020 financial results. Joining me on today s call will be Uzi Yemin, our general partners chairman and CEO; and Reuven Spiegel, CFO, as well as other members of our management team. As a reminder, this conference call may contain forward-looking statements as that term is defined under federal securities laws.
Delek Logistics Partners, LP Reports Fourth Quarter 2020 Results
- Reported fourth quarter net income attributable to all partners of $40.7 million; represents an 88% increase y/y
- EBITDA of $64.0 million represented an increase of 48% y/y
- Zero recordable incidents for the full-year 2020
- Fourth quarter distributable cash flow coverage ratio of 1.41x and total leverage ratio of 3.8x
- Declared fourth quarter distribution of $0.910 per limited partner unit; reflects 2.8% percent increase y/y
- Achieved full-year distribution growth target of 5% in 2020; expect another 5% increase in 2021
- Delivered on year-end distribution coverage and leverage ratio targets earlier than expected
- Announced Sherri A. Brillon to the Board of Directors on February 1, 2021, bringing deep industry experience, diversity and fresh perspective
Delek US Holdings Reports Fourth Quarter 2020 Results Underlying cost improvements and capital reductions across the portfolio position the company well for 2021 COVID-19 vaccination uptake provides an increasing demand backdrop going forward Robust outlook for the retail segment with line of sight for strong growth potential Capital light approach to renewable diesel with $13 million option to acquire a one-third economic interest in GCE Holdings Acquisitions Expecting another 5% distribution growth year-over-year at Delek Logistics in 2021
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BRENTWOOD, Tenn., Feb. 23, 2021 /PRNewswire/ Delek US Holdings, Inc. (NYSE: DK) ( Delek US ) today announced financial results for its fourth quarter ended December 31, 2020. Delek US reported a fourth quarter 2020 net loss of $(293.2) million, or $(3.98) per share, versus net income of $32.7 million, or $0.44 per diluted share, for the quarter ended December 31, 2019.
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