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.”
Equity Issuances
Sunoco LP issued aggregate 1,500,000 of the Partnership's 7.875% Series A Fixed-Rate Reset Cumulative Redeemable Perpetual Preferred Units of preferred stock to RBC Capital Markets, LLC and Barclays Capital Inc., as representatives of the initial purchasers for gross proceeds of $1.5 billion.
“On September 4, 2025, Sunoco LP, a Delaware limited partnership (the “ Partnership ”), entered into a purchase agreement (the “ Purchase Agreement ”), by and among the Partnership, Sunoco GP LLC, the general partner of the Partnership, and RBC Capital Markets, LLC and Barclays Capital Inc., as representatives of the initial purchasers (the “ Initial Purchasers ”) named on Schedule A to the Purchase Agreement. The Purchase Agreement provides for the offer and sale (the “ Preferred Offering ”) by the Partnership, and the purchase by the Initial Purchasers, of an aggregate 1,500,000 of the Partnership’s 7.875% Series A Fixed-Rate Reset Cumulative Redeemable Perpetual Preferred Units (the “ Series A Preferred Units ”). The Partnership will receive gross proceeds of $1.5 billion from the sale of the Series A Preferred Units before deducting the Initial Purchasers’ discount of an aggregate $22.5 million and other estimated offering expenses.”
Debt Financings
Sunoco LP incurred credit facility of $1.50 billion with Barclays Bank PLC (and certain of its affiliates) and Royal Bank of Canada (and certain of its affiliates).
“In connection with the entry into the Amendment, $1.50 billion of the previously disclosed debt financing commitments provided by Barclays Bank PLC (and certain of its affiliates) and Royal Bank of Canada (and certain of its affiliates) terminated in accordance with the terms of such commitments.”
Debt Financings
Sunoco LP amended credit facility with Bank of America, N.A..
“The information set forth in Item 1.01 relating to the Amendment under the heading “Amendment to Credit Agreement” is hereby incorporated into this Item 2.03 by reference.”
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.”
Debt Financings
Sunoco LP incurred senior notes of $1.0 billion in aggregate principal amount with U.S. Bank Trust Company, National Association at 6.250% maturing July 1, 2033.
“On March 31, 2025, Sunoco LP (NYSE: SUN) (the “Partnership”) completed a private offering to eligible purchasers (the “Notes Offering”) of $1.0 billion in aggregate principal amount of its 6.250% Senior Notes due 2033 (the “Notes”), along with the related guarantees of the Notes.”
M&A Transactions
Sunoco LP completed a disposition involving joint venture (Energy Transfer LP) (closed 2024-07-16).
“On July 16, 2024, Sunoco LP ("Sunoco" or the "Partnership") and Energy Transfer LP ("Energy Transfer") announced the formation of a joint venture combining their respective crude oil and produced water gathering assets in the Permian Basin.”
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.”
W. Brett Smith was appointed as Director at Sunoco LP.
“On March 22, 2024, Mr. W. Brett Smith, age 64, was appointed to the board of directors (the “Board”) of Sunoco GP LLC (the “General Partner”), the general partner of Sunoco LP (the “Partnership”) by the sole member of the General Partner pursuant to the provisions of the Amended and Restated Limited Liability Company Agreement of the General Partner dated September 25, 2012, as amended.”
Earnings Releases
Sunoco LP reported the quarter and year ended December 31, 2023 results: net income net loss was $106 million compared to net income of $55 million in the fourth quarter of 2022. Guidance reaffirmed.
“Sunoco LP (NYSE: SUN) (“SUN” or the “Partnership”) today reported financial and operating results for the quarter and year ended December 31, 2023.”
Material Agreements
Sunoco LP entered into Agreement and Plan of Merger with NuStar Energy L.P. (effective 2024-01-22).
“On January 22, 2024, Sunoco LP, a Delaware limited partnership (“ Parent ”), Saturn Merger Sub, LLC, a Delaware limited liability company and a direct wholly owned subsidiary of Parent (“ Merger Sub ”), NuStar Energy L.P., a Delaware limited partnership (the “ Partnership ”), Riverwalk Logistics, L.P., a Delaware limited partnership (the “ Partnership GP ”) and sole general partner of the Partnership, NuStar GP, LLC, a Delaware limited liability company (“ Partnership Managing GP ”) and the sole general partner of the Partnership GP and Sunoco GP LLC, a Delaware limited liability company (the “ Parent GP ”) and sole general partner of Parent, entered into an Agreement and Plan of Merger (the “ Merger Agreement ”),”
Earnings Releases
Sunoco LP reported third fiscal quarter ended September 30, 2023 results: net income $272 million. Guidance raised.
“On November 1, 2023 , Sunoco LP issued a news release announcing its results for the third fiscal quarter ended September 30, 2023”
Material Agreements
Sunoco LP entered into Indenture dated September 20, 2023 with U.S. Bank Trust Company, National Association valued at $500,000,000 aggregate principal amount of 7.000% senior notes due 2028 (effective 2023-09-20).
“On September 20, 2023, Sunoco LP (NYSE: SUN) (the “Partnership”) and Sunoco Finance Corp. (“Finance Corp.” and, together with the Partnership, the “Issuers”) completed a private offering to eligible purchasers (the “Notes Offering”) of $500,000,000 aggregate principal amount of 7.000% senior notes due 2028 (the “Notes”), along with the related guarantees of the Notes.”
Earnings Releases
Sunoco LP reported the second fiscal quarter ended June 30, 2023 results: net income $87 million.
“For the quarter ended June 30, 2023, net income was $87 million versus $121 million in the second quarter of 2022.”
Earnings Releases
Sunoco LP reported first fiscal quarter ended March 31, 2023 results: net income $141 million. Guidance raised.
“Sunoco LP issued a news release announcing its results for the first fiscal quarter ended March 31, 2023”
Earnings Releases
Sunoco LP updated its full year 2023 guidance (reaffirmed).
“The Partnership expects full year 2023 Adjusted EBITDA (1)(2) to be between $850 and $900 million.”
Earnings Releases
Sunoco LP reported the twelve months ended December 31, 2022 results: net income $475 million. Guidance reaffirmed.
“For the twelve months ended December 31, 2022, net income was $475 million versus $524 million in 2021.”
Earnings Releases
Sunoco LP reported the three- and twelve-month periods ended December 31, 2022 results: net income $55 million. Guidance reaffirmed.
“On February 15, 2023, Sunoco LP issued a news release announcing its results for the fiscal year and fourth fiscal quarter ended December 31, 2022 and providing access information for an investor conference call to discuss those results.”
Earnings Releases
Sunoco LP reported the third fiscal quarter ended September 30, 2022 results: net income $83 million. Guidance raised.
“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”
William P. Williams retired as Director at Sunoco LP.
“On April 20, 2022, Mr. William P. Williams, age 85, informed Sunoco LP (“the Partnership”) of his intention to retire from the board of directors (the “Board”) of Sunoco GP LLC (the “General Partner”), the general partner of the Partnership, effective April 20, 2022.”
Matthew S. Ramsey retired as Director at Sunoco LP.
“amends Item 5.02 to add information regarding the accelerated vesting of Mr. Ramsey’s Partnership common units upon retirement from the Board.”
Ray W. Washburne was appointed as Director and Chairman at Sunoco LP.
“On March 11, 2022 and effective April 1, 2022, Mr. Ray W. Washburne, age 61, was appointed to the Board of the General Partner of the Partnership, by the sole member of the General Partner pursuant to the provisions of the Amended and Restated Limited Liability Company Agreement of the General Partner dated September 25, 2012, as amended.”
Matthew S. Ramsey departed as Director at Sunoco LP.
“On March 11, 2022, Mr. Matthew S. Ramsey, age 67, 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 April 1, 2022”
James W. Bryant retired as Director at Sunoco LP.
“On December 31, 2021, James W. Bryant, age 88, 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”), and as a member of its Compensation and Audit Committees, effective December 31, 2021.”
Facts are extracted by an LLM and gated to those whose source quote is present verbatim in the filing text. Coverage is best-effort while backfill and monitoring mature; this is not yet a full-market index. See methodology.