11/7/2022

speaker
Conference Operator
Call Moderator

Good morning, and welcome to the DELIT Logistics Partners 2022 Third Quarter Conference Call. All participants will be in a listen-only mode today. Should you need any assistance, please signal a conference specialist 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 telephone keypad. To withdraw your question, please press star, then two. Please note that this event is being recorded today. I would now like to turn the conference over to Blake Fernandez. Please go ahead.

speaker
Blake Fernandez
IR Host

Good morning. I would like to thank everyone for joining us on this webcast to discuss Dellick Logistics Partners' third quarter 22 financial results. Joining me on today's call will be Avagal Surik, President, Ruben Spiegel, CFO, Todd O'Malley, EVP and COO, 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, 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'll begin with comments from Avigol. Ruben will then provide financial overview to hide the overview results, and then we'll have a Q&A session. With that, I'll turn the call over to Avigol.

speaker
Avagal Surik
President

Thanks, Blake. DKL had a record EBITDA this quarter. We continue to build momentum on several fronts. Our legacy permanent 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 three bear acquisitions. 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. Additionally, our business is benefiting from a strong refinery utilization rate at the DELEC US level. From a macro perspective, the energy industry has recovered from the pandemic, and we are optimistic on the outlook for the midstream business. I look forward to updating you next quarter. With that, I will turn the call over to Ruben.

Disclaimer

This conference call transcript was computer generated and almost certianly contains errors. This transcript is provided for information purposes only.EarningsCall, LLC makes no representation about the accuracy of the aforementioned transcript, and you are cautioned not to place undue reliance on the information provided by the transcript.

-

-