Delek Logistics Partners, LP
) reported fourth-quarter 2013 operating earnings of 46 cents per
unit, 8% lower than the Zacks Consensus Estimate of 50 cents.
2013 operating earnings of the partnership were $1.93 per share,
1.5% short of the Zacks Consensus Estimate of $1.96.
Despite the earnings miss in the reported quarter, the investor
community seems confident of the future prospects of Delek
Logistics. The partnership was formed in late 2012 and can build
on its current position through organic growth projects and
strategic acquisitions. The partnership gained 1.0% to close at
Total revenues at the end of the fourth quarter were $223.1
million, 10.4% below the Zacks Consensus Estimate of $249
2013 revenues were $0.9 billion, down 11.9% from the prior-year
revenue of $1.02 billion.
Highlights of the Release
Total operating costs and expenses were $209.8 million, down
14.1% from $244.0 million incurred in the year-ago period. The
decline in expenses was primarily due to a 14.1% fall in input
Interest expenses were $1.8 million versus $0.9 million in fourth
Contribution margin from its segments in the reported quarter was
Other Earnings Releases
Buckeye Partners L.P.
) fourth quarter 2013 earnings of 75 cents per unit missed the
Zacks Consensus Estimate of 85 cents by 11.8%.
Plains All American Pipeline L.P.
) announced fourth-quarter 2013 earnings of 74 cents per unit,
beating the Zacks Consensus Estimate of 61 cents by 21.3%.
ONEOK Partners L.P
) reported fourth-quarter 2013 earnings per unit of 67 cents, in
line with the Zacks Consensus Estimate.
Delek Logistics missed our earnings estimate in the current
quarter after reporting positive earnings surprises in the three
The increasing demand for fossil fuels has resulted in higher
exploration & production leading to higher storage and allied
services. The strategic acquisitions made by Delek Logistics in
fourth quarter 2013 and in the ongoing quarter will increase
service capability and will boost the future performance of the
Delek Logistics Partners currently has a Zacks Rank #3 (Hold).
BUCKEYE PARTNRS (BPL): Free Stock Analysis
DELEK LOGISTICS (DKL): Free Stock Analysis
ONEOK PARTNERS (OKS): Free Stock Analysis
PLAINS ALL AMER (PAA): Free Stock Analysis
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