Sunoco Q1 Adj EBITDA $458M; announces $9.1B Parkland acquisition and €500M TanQuid deal

Sunoco LP

Q1 net income $207M ($230M Q1 2024); Adjusted EBITDA $458M ($242M); Distributable Cash Flow $310M ($176M).
Agreed to acquire Parkland Corporation for $9.1B in cash and equity; expected close H2 2025, immediately accretive.
Agreed to acquire TanQuid for ~€500M (incl. €300M assumed debt); 16 terminals in Germany & Poland; close H2 2025.
Distribution raised to $0.8976/unit (+1.25% seq); pays May 20; on track for at least 5% annual growth for 2025.
Issued $1B 6.250% senior notes due 2033; repaid $600M 5.750% notes; leverage ratio 4.1x at quarter end.

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