Delek Logistics Partners, LP (NYSE: DKL) reported Q4 EPS of $0.94, $0.19 worse than the analyst estimate of $1.13. Revenue for the quarter came in at $140.1 million versus the consensus estimate of $127.71 million.

• 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

Uzi Yemin, Chairman, President and Chief Executive Officer of Delek Logistics' general partner, remarked: "I'm pleased to announce zero recordable incidents for the year, which is a true testament to our employees and our core values. Our fourth quarter results rounded out a stellar year for our company, as we delivered strong relative stock performance, despite macro headwinds for the industry. Net income and EBITDA in the fourth quarter increased approximately 88% and 48%, respectively, versus last year. Distribution growth in the quarter was 2.8% on a year-over-year basis and we delivered on our commitment of 5% distribution growth on a full-year basis. We expect another 5% increase in distributions in 2021, underpinned by our outlook for continued strong operational performance."

Mr. Yemin continued, "Eliminating the incentive distribution rights (IDRs) last year helped lower our cost of capital and positions our company for the next phase of growth. We exceeded our year-end distribution coverage and leverage ratio targets earlier than expected, creating tremendous flexibility as we progress into 2021."

For earnings history and earnings-related data on Delek Logistics Partners, LP (DKL) click here.