Sunoco LP reported record Q3 adjusted EBITDA of $1.06 billion, excluding approximately $11 million of one-time transaction expenses. The quarterly distribution increased 1.25%, and management expects to surpass the top end of 2026 guidance.
SUN · Sunoco LP
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Sunoco LP reported third-quarter net income of $499 million, Adjusted EBITDA excluding transaction-related expenses of $1.060 billion, and Distributable Cash Flow, as adjusted, of $588 million, and expects to exceed 2026 guidance range of $3.5 billion to $3.7 billion.
Metrics snapshot
Useful current figures from the complete screener profile.
Quarterly results
* Q4 derived as the full year minus Q1 to Q3.
AI Brief
Q2 FY26 earnings call · Jul 1, 2026TL;DR. Sunoco LP reported strong Q2 2026 results with Adjusted EBITDA of $996 million excluding transaction expenses, more than doubling year-over-year, and raised full-year 2026 Adjusted EBITDA guidance by $400 million to $3.5–$3.7 billion.
- + Raised full-year 2026 Adjusted EBITDA guidance by $400 million to a range of $3.5 billion to $3.7 billion
- + Distributable Cash Flow, as adjusted, of $608 million in Q2 2026 versus $300 million in Q2 2025
- + Declared Q2 2026 distribution of $1.0023 per unit, an over 10% increase versus Q2 2025 and seventh consecutive quarterly increase
- + Leverage of approximately 3.7x at quarter end with $2.3 billion of revolving credit facility liquidity
- + Net income of $283 million in Q2 2026 versus $86 million in Q2 2025
- − Interest expense, net increased to $204 million in Q2 2026 from $123 million in Q2 2025
AI-generated from the earnings call and 8-K · may contain errors · not investment advice
Equibles Rating
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Guidance & track record
Still-open targets the latest release did not restate under the same label.
Guidance from company 8-Ks · delivered figures from as-reported statements · no analyst estimates involved.
Technicals
trend & momentum for long-term holders SellIllustrative technical + ownership context — a signal mix, not investment advice.
Key metrics
the company's own KPIs, from written earnings releases and filings| Metric | Latest | Period | YoY |
|---|---|---|---|
| Bio-feedstock throughput | 3K | Three Months Ended June 30, 2026 filing | — |
| Adjusted EBITDA non-GAAP | 982M | the second quarter of 2026 | — |
GAAP → non-GAAP reconciliationGAAP Net income 283M
+282M Depreciation, amortization and accretion
+204M Interest expense, net
+7M Non-cash unit-based compensation expense
+3M (Gain) loss on disposal of assets and impairment charges
+0M Loss on extinguishment of debt
-6M Unrealized gains on commodity derivatives
+18M Inventory valuation adjustments
-47M Equity in earnings of unconsolidated affiliates
+75M Adjusted EBITDA related to unconsolidated affiliates
+84M Other non-cash adjustments
+79M Income tax expense
= Adjusted EBITDA 982M
|
|||
| Adjusted EBITDA, excluding transaction-related expenses non-GAAP | 996M | the second quarter of 2026 | — |
GAAP → non-GAAP reconciliationGAAP Adjusted EBITDA 982M
+14M Transaction-related expenses
= Adjusted EBITDA, excluding transaction-related expenses 996M
|
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| Composite utilization | 103% | Three Months Ended June 30, 2026 | — |
| Crude throughput (thousand barrels per day) | 54K | Three Months Ended June 30, 2026 | — |
| Crude utilization | 97% | Three Months Ended June 30, 2026 | — |
| Distributable Cash Flow | $594M | Three Months Ended June 30, 2026 | — |
GAAP → non-GAAP reconciliationGAAP Adjusted EBITDA 982M
-75M Adjusted EBITDA related to unconsolidated affiliates
+71M Distributable cash flow from unconsolidated affiliates
-29M Series A Preferred Units distributions
-196M Cash interest expense
-86M Current income tax expense
-73M Maintenance capital expenditures
= Distributable Cash Flow 594M
|
|||
| Distributable Cash Flow attributable to the common unitholders of SunocoCorp non-GAAP | 52M | Three Months Ended June 30, 2026 | — |
| Distributable Cash Flow, as adjusted non-GAAP | 608M | the second quarter of 2026 | — |
GAAP → non-GAAP reconciliationGAAP Distributable Cash Flow 594M
+14M Transaction-related expenses and adjustments
= Distributable Cash Flow, as adjusted 608M
|
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| Distribution per unit declared for the second quarter of 2026 | $1 | the second quarter of 2026 | — |
| Fuel Distribution segment Adjusted EBITDA non-GAAP | 504M | the second quarter of 2026 | — |
| Fuel gallons sold | 4.1B | the second quarter of 2026 | — |
| Fuel margin for all gallons sold | 17.1 | the second quarter of 2026 | — |
| Liquidity remaining on revolving credit facility | 2.3B | June 30, 2026 | — |
| Motor fuel gallons sold (millions) | 4.13B | Three Months Ended June 30, 2026 | — |
| Motor fuel profit cents per gallon (1) | 17.1 | Three Months Ended June 30, 2026 | — |
| Net debt to Adjusted EBITDA leverage ratio non-GAAP | 3.7 | the end of the second quarter | — |
| Pipeline Systems average throughput volumes | 1.3M | the second quarter of 2026 | — |
| Pipeline Systems segment Adjusted EBITDA non-GAAP | 190M | the second quarter of 2026 | — |
| Pipelines throughput (thousand barrels per day) | 1.35M | Three Months Ended June 30, 2026 | — |
| Refinery average throughput volumes | 57K | the second quarter of 2026 | — |
| Refinery segment Adjusted EBITDA non-GAAP | 175M | the second quarter of 2026 | — |
| Terminals average throughput volumes | 1.1M | the second quarter of 2026 | — |
| Terminals segment Adjusted EBITDA non-GAAP | 113M | the second quarter of 2026 | — |
| Throughput (thousand barrels per day) | 1.07M | Three Months Ended June 30, 2026 | — |
Figures exactly as the company stated them in writing · click a metric with a to chart its history · period links open the stating document · "filing" marks figures stated in the 10-K/10-Q · YoY needs an exactly comparable prior-year period
Versus peers
Oil & Gas Refining & Marketing — same industry group| Company | Mkt cap | YTD | Rev growth Y/Y | P/E | Short % shares |
|---|---|---|---|---|---|
|
SUN
this stock
Sunoco LP
|
$13.44B | +23.4% | +11.1% | — | 0.6% |
|
MPC
Marathon Petroleum Corp
|
$116.36B | +141.5% | +25.8% | 8.4 | 2.6% |
|
VLO
Valero Energy Corp
|
$101.89B | +124.4% | -5.5% | 8.2 | 2.9% |
|
PSX
Phillips 66
|
$98.83B | +101.2% | -7.5% | 8.1 | 1.7% |
|
DINO
HF Sinclair Corp
|
$19.43B | +126.9% | +64.4% | 5.8 | 4.1% |
Peers by industry group · P/E from as-reported trailing EPS · short % is of shares outstanding
At a glance
key data from every section- Filed
- Nov 3, 2026
- This year
- 16
Sunoco LP reported third-quarter net income of $499 million, Adjusted EBITDA excluding transaction-related expenses of $1.060 billion, and Distributable Cash Flow, as adjusted, of $588 million, and expects to exceed 2026 guidance range of $3.5 billion to $3.7 billion.
ViewPerformance
| 5D | 20D | 120D | MTD | YTD | |
|---|---|---|---|---|---|
| SUN | -9.7% | -10.2% | -7.7% | -8.7% | +23.4% |
| SPY | -0.7% | -1.3% | +2.5% | +1.5% | +12.5% |
| vs SPY | -9.0% | -8.8% | -10.2% | -10.2% | +10.9% |
Capital returns
Dividends per share over the trailing 365 days by ex-date · buyback figures as last reported in SEC filings ("spent" derived as authorized − remaining; when several programs run concurrently, authorized is their combined total per the newest filing) · components shown separately — trailing-year buyback spend isn't tracked, so no combined shareholder yield is derived.