Sunoco LP reported the first fiscal quarter ended March 31, 2026 results: net income $644 million.
“--- News Release Sunoco LP and SunocoCorp LLC Report Strong First Quarter 2026 Financial and Operating Results • Reports strong first quarter results, including net income of $644 million, Adjusted EBITDA (1) of $867 million, excluding one-time transaction-related expenses (2) , and Distributable Cash Flow, as adjusted (1) , of $535 million • Increases quarterly”
Material Agreements
Sunoco LP entered into Indenture with U.S. Bank Trust Company, National Association, as trustee valued at $1,200 million aggregate principal amount of Senior Notes (5.375% due 2031 and 5.625% due 2034) (effective 2026-03-09).
“On March 9, 2026, Sunoco LP (NYSE: SUN) (the “ Partnership ”) completed a private offering to eligible purchasers (the “ Notes Offering ”) of (i) $600 million in aggregate principal amount of its 5.375% Senior Notes due 2031 (the “ 2031 Notes ”) and (ii) $600 million in aggregate principal amount of its 5.625% Senior Notes due 2034 (the “ 2034 Notes ” and, collectively with the 2031 Notes, the “ Notes ”), along with the related guarantees of the Notes.”
Governance Changes
Sunoco LP: Amended Sunoco's partnership agreement to establish rights and obligations of Sunoco Class D Units, including voting and distribution equivalization (effective 2025-10-31).
“On October 31, 2025, in connection with the issuance of the Sunoco Class D Units to SunocoCorp pursuant to the Arrangement, Sunoco GP LLC, the general partner of Sunoco amended Sunoco’s Third Amended and Restated Agreement of Limited Partnership, dated as of September 18, 2025 (the “ LPA Amendment ”), to establish the rights and obligations of the Sunoco Class D Units.”
M&A Transactions
Sunoco LP completed an acquisition involving Parkland Corporation for approximately CAD$3.458 million in cash and approximately 51.5 million SunocoCorp Common Units (closed 2025-10-31).
“in the Plan of Arrangement, the aggregate consideration payable to Parkland shareholders in connection with the consummation of the Arrangement, consists of approximately CAD$3.458 million in cash and approximately 51.5 million SunocoCorp Common Units. In connection with the consummation of the Arrangement, Sunoco issued to SunocoCorp a number of limited”
Governance Changes
Sunoco LP: Amended and restated partnership agreement to establish Series A Preferred Units (effective 2025-09-18).
“On September 18, 2025, in connection with the issuance of an aggregate 1,500,000 of the Series A Preferred Units, Sunoco GP LLC, the general partner of the Partnership (the “ General Partner ”), amended and restated the Partnership’s Second Amended and Restated Agreement of Limited Partnership, dated as of February 12, 2025 (as amended and restated, the “ Third Amended and Restated LPA ”), to establish the rights and obligations of the Series A Preferred Units.”
Christopher R. Curia retired as Director at Sunoco LP.
“On April 22, 2025, Mr. Christopher R. Curia, age 69, announced his intention to retire from the board of directors (the “Board”) of Sunoco GP LLC (the “General Partner”), the general partner of Sunoco LP (the “Partnership”), effective May 1, 2025.”
Bradley C. Barron was appointed as director at Sunoco LP.
“on July 2, 2024, Mr. Bradley C. Barron was appointed to the board of directors (the “Board”) of Sunoco GP by the sole member of Sunoco GP pursuant to the provisions of the Amended and Restated Limited Liability Company Agreement of Sunoco GP dated September 25, 2012, as amended.”
Earnings Releases
Sunoco LP reported the quarter ended March 31, 2024 results: net income $230 million. Guidance raised.
“Net income for the first quarter of 2024 was $230 million compared to net income of $141 million in the first quarter of 2023.”
M&A Transactions
Sunoco LP completed an acquisition involving NuStar Energy L.P. for .400 of a Common Unit representing limited partner interests in Sunoco per NuStar Common Unit (closed 2024-05-03).
“ransactions contemplated by the Agreement and Plan of Merger (the “ Merger Agreement ”), dated January 22, 2024, by and among Sunoco, Saturn Merger Sub, LLC, a Delaware limited liability company and a direct wholly owned subsidiary of Sunoco (“ Merger Sub ”), NuStar Energy L.P., a Delaware limited partnership (“ NuStar ”), Riverwalk Logistics, L.P., a Delaware limited partnership (the “ NuStar GP ”) and sole general partner of NuStar, NuStar GP, LLC, a Delaware limited liability company (“ NuStar Managing GP ”) and the sole general partner of the NuStar GP and Sunoco GP LLC, a Delaware limited liability company (the “ Sunoco GP ”) and sole general partner of Sunoco, pursuant to which Merger Sub merged with and into NuStar (the “ Merger ”), with NuStar surviving the Merger as the surviving entity and a subsidiary of Sunoco (the “ Surviving Entity ”).”
Material Agreements
Sunoco LP amended Waiver Letter and Second Amendment to the NuStar Credit Agreement with Wells Fargo Bank, National Association (effective 2024-05-03).
“On May 3, 2024, a Waiver Letter and Second Amendment to the NuStar Credit Agreement (as defined below) (the “ NuStar Waiver Letter ”), by Wells Fargo Bank, National Association and acknowledged and accepted by NuStar, NuStar Logistics, L.P., a Delaware limited partnership (“ NuStar Logistics ”), NuStar Pipeline Operating Partnership L.P., a Delaware limited partnership (“ NuPoP ”) and the lenders party thereto, was entered into.”
Material Agreements
Sunoco LP amended Third Amended and Restated Credit Agreement with Bank of America, N.A., as administrative agent, swingline lender and an LC issuer; the lenders from time to time party thereto valued at $1.50 billion (effective 2024-05-03).
“Third Amended and Restated Credit Agreement among Sunoco, as borrower, the lenders from time to time party thereto and Bank of America, N.A., as administrative agent, swingline lender and an LC issuer (the “ Sunoco Credit Agreement ”), which amended and restated Sunoco’s existing revolving credit facility entered into on April 7, 2022, was entered into on May 3, 2024.”
Debt Financings
Sunoco LP incurred senior notes of $750 million in aggregate principal amount of its 7.250% Senior Notes due 2032 with U.S. Bank Trust Company, National Association at 7.250% maturing May 1, 2032.
“On April 30, 2024, Sunoco LP (NYSE: SUN) (the “Partnership”) completed a private offering to eligible purchasers (the “Notes Offering”) of (i) $750 million in aggregate principal amount of its 7.000% Senior Notes due 2029 (the “2029 Notes”) and (ii) $750 million in aggregate principal amount of its 7.250% Senior Notes due 2032 (the “2032 Notes””
Debt Financings
Sunoco LP incurred senior notes of $750 million in aggregate principal amount of its 7.000% Senior Notes due 2029 with U.S. Bank Trust Company, National Association at 7.000% maturing May 1, 2029.
“On April 30, 2024, Sunoco LP (NYSE: SUN) (the “Partnership”) completed a private offering to eligible purchasers (the “Notes Offering”) of (i) $750 million in aggregate principal amount of its 7.000% Senior Notes due 2029 (the “2029 Notes”) and (ii) $750 million in aggregate principal amount of its 7.250% Senior Notes due 2032 (the “2032 Notes””
Material Agreements
Sunoco LP entered into Indenture with U.S. Bank Trust Company, National Association valued at $750 million in aggregate principal amount of its 7.000% Senior Notes due 2029 (the “2029 Notes”) an (effective 2024-04-30).
“On April 30, 2024, Sunoco LP (NYSE: SUN) (the “Partnership”) completed a private offering to eligible purchasers (the “Notes Offering”) of (i) $750 million in aggregate principal amount of its 7.000% Senior Notes due 2029 (the “2029 Notes”) and (ii) $750 million in aggregate principal amount of its 7.250% Senior Notes due 2032 (the “2032 Notes” and, collectively with the 2029 Notes, the “Notes”), along with the related guarantees of the Notes.”
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