Delek Logistics Partners, LP (NYSE:DKL) Q3 2022 Earnings Conference Call November 7, 2022 9:30 AM ET

Company Participants

Blake Fernandez - IR

Avigal Soreq - President

Reuven Spiegel - CFO

Todd O'Malley - EVP & Chief Operating Officer

Conference Call Participants

Michael Cusimano - Pickering Energy Partners

Operator

Good morning, and welcome to the Delek Logistics Partners 2022 Third Quarter Conference Call. All participants will be in a listen-only mode today. [Operator Instructions] After todays’ presentation, there will be an opportunity to ask questions. [Operator Instructions] Please note that this event is being recorded today.

I would now like to turn the conference over to Blake Fernandez. Please go ahead.

Blake Fernandez

Good morning. I would like to thank everyone for joining us on this webcast to discuss Delek Logistics Partners’ third quarter ‘22 financial results. Joining me on today’s call will be Avigal Soreq, President; Reuven Spiegel, CFO; and Todd O'Malley, EVP and Chief Operating Officer; and other members of our management team.

As a reminder, this conference call will contain forward-looking statements as that term is defined under federal securities laws, including, without limitation, statements regarding to guidance and future business outlook. These statements involve risks and uncertainties that may cause actual results or trends to differ materially from our forecast.

For more information, please refer to the risk factors discussed in the company’s most recently filed, annual report and Form 10-K and quarterly report on Form 10-Q filed with the SEC, along with the press release associated with this call. The company assumes no obligation to update any forward-looking statements or information, which speak of their respective dates.

On today’s call, we will begin with comments from Avigal, Reuven will then provide financial overview, Todd will review results and then we will have a Q&A session.

With that, I will turn the call to Avigal.

Avigal Soreq

Thanks, Blake. DKL had record EBITDA this quarter. We continue to build momentum on several fronts. Our legacy Permian Gathering business met our previously stated targets, which was to double volume between Q4 of 2021 to September of 2022. This remains a growth engine for our company.

I want to give you an update on our 3 Bear acquisition. We are pleased with the progress of the integration. The assets are performing in line with our initial expectations and we're excited about additional growth opportunities. The geographic and product line diversity provided from the acquisition should serve us well into the future tactically and strategically.