Sunoco LP Earnings Call Transcripts
Fiscal Year 2026
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Q1 2026 saw robust adjusted EBITDA and distributable cash flow, driven by acquisitions, inventory optimization, and strong segment performance. Distribution per unit rose over 10% year-over-year, with a solid balance sheet and continued growth outlook.
Fiscal Year 2025
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Record 2025 results driven by acquisitions and strong base business, with adjusted EBITDA up 36% year-over-year. 2026 guidance targets $3.1–$3.3 billion EBITDA, at least $500 million in annual bolt-on M&A, and minimum 5% distribution growth.
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Record Q3 results driven by the Parkland acquisition, with adjusted EBITDA reaching $496 million and distributable cash flow at $326 million. Integration is underway, with over $250 million in synergies targeted and free cash flow expected to exceed $1 billion annually.
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Record Q2 results with $464M adjusted EBITDA and strong performance across all segments. Major acquisitions (NuStar, Parkland, TinQuid) drive scale, with robust capital allocation and distribution growth expected. Confident in full-year guidance and ongoing margin strength.
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Q1 2025 saw strong adjusted EBITDA and cash flow, with distribution growth and a robust balance sheet. Major acquisitions in North America and Europe are set to expand scale and diversify the portfolio, supporting confidence in full-year guidance and ongoing distribution increases.
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The acquisition creates the largest independent fuel distributor in the Americas, offering Parkland shareholders a 25% premium and immediate accretion. At least $250 million in annual synergies are expected by year three, with significant scale, diversification, and financial flexibility for future growth.
Fiscal Year 2024
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Record 2024 results driven by NuStar acquisition, strong segment performance, and disciplined capital allocation. 2025 guidance targets $1.9–$1.95B Adjusted EBITDA and at least 5% distribution growth, with continued focus on accretive growth and operational excellence.
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Record Q3 Adjusted EBITDA of $470M was driven by strong performance across all segments and successful integration of acquisitions. Leverage met the 4x target, and the outlook remains bullish with plans for distribution increases and continued growth.
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Record Q2 Adjusted EBITDA of $400M was achieved, driven by strong fuel distribution, the NuStar acquisition, and strategic asset divestitures. 2024 guidance was reaffirmed, with synergy targets raised to $200M by 2026 and a robust balance sheet supporting further growth.