Filing Flows › Delek Logistics Partners, LP (DKL) › Q3 2025
Delek Logistics Partners, LP (DKL) Q3 2025 earnings results (third quarter 2025)
10-Q filed Nov 7, 2025
Delek Logistics Partners, LP (DKL) reported revenue of $261M for the third quarter 2025 (Q3 2025), +22% from a year earlier and +6% from the quarter before. Operating margin was 17.4%, net earnings $45.6M (17.4% of revenue).
Delek Logistics Partners, LP, Q3 2025: revenue $261M (+22% year over year), operating margin 17.4%, net earnings $45.6M, operating cash flow $54.9M. The chart follows the revenue to costs, profit and cash.
| Q3 2025 | Amount | Q/Q | Y/Y |
|---|---|---|---|
| Revenue | $261M | +6% | +22% |
| Operating profit | $45.4M | -13% | +43% |
| Net earnings | $45.6M | +2% | +35% |
| Operating cash flow | $54.9M | -49% | +120% |
What changed
Revenue was $261.3M in Q3 2025, up 22% year over year and up 6% from the previous quarter. Gathering and Processing was the largest line at 51% of revenue. Gathering and Processing added $50.7M year over year (up 62%), 107% of the total change. Storage and Transportation declined 5%.
Operating profit was $45.4M, a 17.4% margin (up 2.5 points year over year). Of the extra revenue versus a year earlier, 29% reached operating profit, above the 15% margin then. Total costs grew 18% against revenue growth of 22%. The fastest-growing cost line was Other operating costs (+215%). Net earnings were $45.6M, up 35% year over year. The effective tax rate was 0.7%.
Operating cash flow was $54.9M (up 120% year over year), 121% of net earnings. Non-cash charges added back $34.8M of depreciation and amortization. Working capital and other items used $25.4M. Capital expenditures of $67.2M exceeded it, leaving free cash flow of −$12.3M.
Questions
What was Delek Logistics Partners, LP's revenue in the third quarter 2025?
Delek Logistics Partners, LP (DKL) reported revenue of $261M for the third quarter 2025 (Q3 2025), +22% from a year earlier and +6% from the quarter before.
Was Delek Logistics Partners, LP profitable in the third quarter 2025?
Operating profit was $45.4M (17.4% of revenue) and net earnings $45.6M.