Welcome to our dedicated page for SUNOCO L.P. news (Ticker: SUN), a resource for investors and traders seeking the latest updates and insights on SUNOCO L.P. stock.
Sunoco LP (NYSE: SUN) is a leading energy infrastructure and fuel distribution master limited partnership operating across 47 U.S. states, Puerto Rico, Europe, and Mexico. For over 125 years, the Sunoco brand has symbolized excellence and quality, laying a rich foundation that continues to guide the company's growth. Sunoco LP is primarily engaged in the distribution of motor fuels to independent dealers, distributors, and commercial customers, as well as end-use customers through retail sites run by commission agents.
Every year, Sunoco LP transports millions of gallons of transportation fuel, crude oil, and other products through its extensive logistics network. The company's retail operations span 24 states, delivering convenience and speed to customers. Sunoco LP operates through the Fuel Distribution and Marketing segment, with convenience stores under brands such as APlus, Stripes, Aloha Island Mart, and Tigermarket.
Sunoco is not just a name in fuel distribution; it is also the official fuel of NASCAR®, serving as the authorized gasoline manufacturer for over 50 racing series, including NASCAR's Sprint Cup Series™, Nationwide Series™, and Camping World Truck Series™.
In April 2024, Sunoco LP made significant strides by acquiring liquid fuel terminals from Zenith Energy and divesting 204 convenience stores to 7-Eleven, Inc. These strategic moves are expected to be immediately accretive to unitholders' value. The acquisition of Zenith Energy Netherlands Amsterdam B.V. positions Sunoco at a critical hub in Europe's energy market, enhancing supply chain efficiencies for its U.S. East Coast operations.
Financially, Sunoco LP reported robust results for the first quarter of 2024, with a net income of $230 million, a significant increase from $141 million in the first quarter of 2023. The company sold over 2.1 billion gallons of fuel, marking a 9% increase from the previous year. With an upgraded credit rating and improved leverage ratio, Sunoco LP continues to show strong financial health and growth potential.
Sunoco LP’s general partner is owned by Energy Transfer LP (NYSE: ET). The company constantly innovates and evolves, staying committed to helping its customers reach their destinations efficiently.
Energy Transfer LP (NYSE: ET) has entered a definitive agreement to acquire Lotus Midstream Operations, LLC for approximately
On February 17, 2023, Sunoco LP (NYSE: SUN) filed its Annual Report on Form 10-K for the fiscal year ended December 31, 2022, with the U.S. Securities and Exchange Commission. The report is available on the Partnership's website and includes audited financial statements. Sunoco LP operates in the distribution of motor fuel to approximately 10,000 convenience stores and other customers across over 40 U.S. states. Energy Transfer LP (NYSE: ET) owns Sunoco's general partner. Unitholders can request a printed copy of the report via email or through the Investor Relations website.
Global Partners LP (NYSE: GLP) appointed Clare McGrory to its Board of Directors effective March 1. McGrory, CFO and CCO at Atairos, brings extensive experience from her prior role as CFO at Sunoco, LP (NYSE: SUN), where she contributed to long-term growth initiatives. This addition increases the board to 7 members, 5 of whom are independent. McGrory's finance expertise is expected to align with Global's strategic goals, enhancing leadership and operational execution. Global Partners operates approximately 1,700 gas stations across the Northeast and mid-Atlantic, making it a major player in regional petroleum distribution.
Energy Transfer LP (NYSE: ET) has filed its annual report on Form 10-K for the fiscal year ending December 31, 2022, with the SEC. The comprehensive report includes audited financial statements and can be accessed on the company’s website or requested in print by unitholders. Energy Transfer operates a large portfolio of energy assets, comprising around 120,000 miles of pipeline across 41 states. Key holdings include significant interests in Sunoco LP (NYSE: SUN) and USA Compression Partners, LP (NYSE: USAC). Forward-looking statements are included but are subject to various risks and uncertainties.
Energy Transfer LP (NYSE:ET) announced its financial results for Q4 and the year ended December 31, 2022, reporting a net income of $1.16 billion, up $234 million year-over-year. Adjusted EBITDA for the quarter rose to $3.44 billion from $2.81 billion. Distributable Cash Flow also increased to $1.91 billion. The growth is attributed to higher volumes across core segments and the Enable Midstream acquisition. For 2023, Energy Transfer anticipates Adjusted EBITDA between $12.9 billion and $13.3 billion, alongside capital expenditures of $1.6 billion to $1.8 billion aimed at enhancing operational efficiency.
Sunoco LP (NYSE: SUN) reported its fourth quarter results for 2022, revealing a net income of $55 million, down from $100 million in Q4 2021. Adjusted EBITDA increased to $238 million from $198 million year-over-year. The Partnership sold approximately 2.0 billion gallons of fuel in Q4 2022, a 5% increase from the previous year, with fuel margin rising to 12.8 cents per gallon. For the full year, net income totaled $475 million, a decline from $524 million in 2021, while Adjusted EBITDA surged 22% to $919 million. SUN anticipates 2023 Adjusted EBITDA between $850 million and $900 million.
Energy Transfer LP (NYSE: ET) announced a quarterly cash distribution of
Sunoco LP (NYSE: SUN) announced a quarterly distribution of $0.8255 per common unit for Q4 2022, which annualizes to $3.3020. This distribution will be paid on February 21, 2023 to unitholders of record as of February 7, 2023. Sunoco LP operates in the motor fuel distribution sector, servicing approximately 10,000 convenience stores and dealers across over 40 U.S. states. Its general partner is owned by Energy Transfer LP (NYSE: ET). Additionally, all distributions to foreign investors will be subject to federal tax withholding at the highest effective rate as per Treasury Regulation.
Energy Transfer LP (NYSE: ET) announced quarterly cash distributions for its preferred units, set at $0.4609375 for Series C, $0.4765625 for Series D, and $0.4750000 for Series E. Payments will be made on February 15, 2023, to unitholders on record as of February 1, 2023. Energy Transfer LP possesses a diversified energy asset portfolio across major U.S. production basins, including natural gas midstream and transportation assets. The company also has stakes in Sunoco LP (NYSE: SUN) and USA Compression Partners, LP (NYSE: USAC).
Sunoco LP (NYSE: SUN) will announce its fourth quarter and full year 2022 financial results on February 15, 2023, before the market opens. Management will host a conference call at 9:00 a.m. Central Time to discuss the financial outcomes. The company operates in the distribution of motor fuel across approximately 10,000 convenience stores in more than 40 U.S. states.
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