Sunoco Q3 Adj EBITDA $276M (+39% YoY); raises FY22 guidance; acquires Peerless for $70M

Sunoco LP

Net income $83M, Adjusted EBITDA $276M, Distributable Cash Flow $196M (vs $104M, $198M, $146M YoY).
Full-year 2022 Adjusted EBITDA guidance increased to $845-865M from prior range.
Definitive agreement to acquire Peerless Oil & Chemicals for $70M; expected to close Q4, funded via revolver.
Q3 distribution $0.8255/unit declared (Nov 18 pay date); cash coverage 2.2x, TTM coverage 1.8x.
Fuel margin improved to 13.9 cpg (vs 11.3 cpg YoY); volume ~2.0B gallons (+1% YoY).

item 2.02 item 7.01 item 9.01

Key facts

Extracted from this filing and checked against the source text.

Earnings Releases SEC 8-K Item 2.02 confidence 1.0

Sunoco LP reported the third fiscal quarter ended September 30, 2022 results: net income $83 million. Guidance raised.

Period: the third fiscal quarter ended September 30, 2022
Net income: $83 million
Guidance: raised
Result: reported results

Exact text from the filing

News Release Sunoco LP Announces Third Quarter 2022 Financial and Operating Results • Reports third quarter results including net income of $83 million, Adjusted EBITDA (1) of $276 million and Distributable Cash Flow, as adjusted (1) of $196 million • Executes a definitive agreement to acquire Peerless Oil & Chemicals, Inc., a leading terminal operator and refined product logistics business in Puerto Rico • Increases full-year 2022 Adjusted EBITDA (1)(2) guidance to $845 to $865 million

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Source: SEC EDGAR

accession 0001552275-22-000063

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