Q2 26 EPS
$0.94
MISS 66.36%
Est. $2.79
Q2 26 Revenue
$14.26B
BEAT +29.06%
Est. $11.05B
vs S&P Since Q2 26
-2.7%
TRAILING MARKET
SUN -2.1% vs S&P +0.6%
Market Reaction
Did SUN Beat Earnings? Q2 2026 Results
Sunoco LP delivered a split verdict in the second quarter of 2026, posting revenue that ran well ahead of expectations while earnings fell sharply short of the mark. The partnership reported revenue of $14.26 billion, a 164.6% jump from a year ago th… Read more Sunoco LP delivered a split verdict in the second quarter of 2026, posting revenue that ran well ahead of expectations while earnings fell sharply short of the mark. The partnership reported revenue of $14.26 billion, a 164.6% jump from a year ago that cleared the $11.05 billion consensus by 29.06%, driven almost entirely by the transformative Parkland Acquisition that closed during the period. Yet earnings per unit came in at just $0.94, missing the $2.79 consensus by 66.36%, as one-time transaction-related costs weighed on the bottom line. Underneath those headline figures, the operational picture was considerably stronger; Adjusted EBITDA more than doubled to $982 million from $454 million a year ago, and Distributable Cash Flow likewise doubled to $608 million. Fuel Distribution volumes nearly doubled to 4.1 billion gallons as fuel margin expanded to 17.1 cents per gallon from 10.5 cents. Management responded to the strong integration trajectory by raising full-year 2026 Adjusted EBITDA guidance by $400 million to a range of $3.50 billion to $3.70 billion, while declaring a seventh consecutive quarterly distribution increase to $1.00 per unit.
Key Takeaways
- • Parkland Acquisition drove significant volume and profit increases across Fuel Distribution, Terminals, and Refinery segments
- • Fuel margin expanded to 17.1 cents per gallon from 10.5 cents per gallon year-over-year
- • Motor fuel gallons sold nearly doubled to 4.1 billion gallons from 2.2 billion gallons
- • Pipeline Systems benefited from increased market demand, new business, and a regulatory order impacting prior period rates
- • TanQuid acquisition contributed to Terminals segment growth
- • ET-S Permian joint venture contributed $63 million in Adjusted EBITDA to Pipeline Systems
- • Non-fuel profit increased to $162 million from $41 million
SUN Forward Guidance & Outlook
Sunoco LP increased its full year 2026 Adjusted EBITDA guidance by $400 million to a range of $3.5 billion to $3.7 billion. The Partnership's capital allocation strategy includes a multi-year distribution growth rate of at least 5%.
SUN YoY Financials
Q2 2026 vs Q2 2025, source: SEC Filings
SUN Earnings Trends
SUN vs Market 30 Day Price Reactions
30-day stock return vs benchmark after each earnings
SUN EPS Trend
Earnings per share: estimate vs actual
SUN Revenue Trend
Quarterly revenue: estimate vs actual
SUN Quarterly Results
6 quarters of earnings data
| Quarter | EPS Est. | EPS Act. | Surprise | Revenue | Rev. Surprise |
|---|---|---|---|---|---|
| Q2 26 MISS | $2.79 | $0.94 | -66.36% | $14.26B | +29.06% |
| Q1 26 BEAT | $1.72 | $2.85 | +65.62% | $10.69B | +4.90% |
| Q4 25 MISS FY | $1.51 | $0.09 | -94.02% | $8.60B | -8.12% |
| FY Full Year | $4.21 | $2.28 | -45.86% | $25.20B | +9.40% |
| Q3 25 MISS | $1.35 | $0.64 | -52.48% | $6.03B | +4.94% |
| Q2 25 MISS | $1.37 | $0.33 | -75.93% | $5.39B | -2.70% |
| Q1 25 BEAT | $1.18 | $1.21 | +2.57% | $5.18B | -7.17% |