earnings
confidence high
sentiment positive
materiality 0.80
Sunoco LP Q1 net income $644M, Adjusted EBITDA $867M, distribution raised 6.25%
Sunoco LP
- Net income $644M (vs $207M YoY); Adjusted EBITDA $858M ($867M excl. transaction costs); DCF adj. $535M.
- Quarterly distribution raised 6.25% to $0.9899/unit; payable May 20 to holders of record May 8.
- Fuel Distribution segment Adj. EBITDA $529M (incl. $92M inventory gain); 3.8B gal sold at 17.0c/gal margin.
- Pipeline Systems Adj. EBITDA $179M (1.3M bbl/d); Terminals $107M (1.0M bbl/d); Refinery $43M (22K bbl/d).
- SUN leverage 4.0x; $2.2B liquidity; $199M capex ($106M growth). Completed TanQuid acquisition.