Delek Logistics Partners LP

Good day and welcome to the DELIC Logistics Partners first quarter 2022 earnings conference call. All participants will be in a listen-only mode. Should you need assistance, please signal conference specialists by pressing the star key followed by zero. After today's presentation, there will be an opportunity to ask questions. To ask a question, you may press star then one on your touchtone phone. And to withdraw your question, please press star then two. Please note this event is being recorded. I would now like to turn the conference over to Mr. Blake Fernandez. Please go ahead, sir. Good morning.

I would like to thank everyone for joining us on today's webcast to discuss Delos Logistics Partners' first quarter 22 financial results. Joining me on today's call will be Uzi Umeen, our general partner's chairman and CEO, and Reuven Spiegel, CFO, as well as 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 guidance and future business outlook. These statements involve risks and uncertainties that may cause actual results or tend to differ materially from our forecast. For more information, please refer to the risk factors discussed in the company's most recent filing, annual report, or Form 10-K and Form 8-K filed with the SEC, along with the associated press release. The company assumes no obligation to update any forward-looking statements or information which speak of respective dates. On today's call, Ruben will begin with financial overview, I will review results, and Uzi will offer a few closing strategic remarks. With that, I will turn the call over to Ruben.

Thank you, Blake. Our distributable cash flow was approximately $52 million in the first quarter of 2022, compared to $53 million in the first quarter of 21. Our DCF coverage ratio was 1.21, for the first quarter compared to 1.31 in the prior year period. EBITDA was 66 million, which represents 12% increase over prior year period. Our board approved an increase in the quarterly distribution to 98 cents per limited partner unit for the quarter ended March 31st. This distribution will be paid on May 12th to unit holders of record on May 5th and represents 0.5% increase from the fourth quarter of 2021 and 6.5% increase from the first quarter of 2021. At March 31st, DKL had $586 million of available capacity on our $850 million credit facility. Our total debt was $906 million, and the total leverage ratio was approximately 3.3 times, which is well within the 5.25 times currently allowable under our credit facility. Now I will turn the call over to Blake to discuss the results.