Sunoco (SUN) Q3 2026 Earnings
GAAP net income includes $57 million of unrealized gains on commodity derivatives, $19 million of favorable inventory valuation adjustments, $10 million loss on disposal of assets and impairment charges, $1 million loss on extinguishment of debt, and $11 million of one-time transaction-related expenses
How Did SUN Stock React to Q3 2026 Earnings?
Did SUN Beat Earnings? Q3 2026 Results
No. Sunoco reported Q3 2026 earnings of $2.07 a share on Nov 3, 2026, missing the $2.83 consensus estimate by 26.8%. Revenue was $18.0B against a $13.9B estimate.
Sunoco LP delivered a split verdict in the third quarter of 2026, posting revenue of $18.03 billion, a 198.9% jump year over year that cleared the $13.92 billion consensus by 29.52%, while GAAP earnings per unit of $2.07 fell short of the $2.83 analyst estimate by 26.77%. The per-unit figure reflects GAAP net income that included $57 million of unrealized gains on commodity derivatives, $19 million of favorable inventory valuation adjustments, a $10 million loss on asset disposals and impairment charges, a $1 million loss on debt extinguishment, and $11 million in transaction-related expenses. The dominant story behind both the revenue surge and the earnings complexity is the Parkland acquisition, which swelled the Fuel Distribution segment's Adjusted EBITDA to $523 million, more than doubled volume to roughly 4.2 billion gallons, and widened fuel margins to 16.8 cents per gallon. Adjusted EBITDA for the quarter reached $1.05 billion, prompting management to signal it now expects to exceed its full-year 2026 guidance range of $3.50 billion to $3.70 billion. The quarterly distribution rose 1.25% to $1.01 per unit, part of a commitment to <a href="https://247wallst.com/investing/2026/10/16/forget-growth-stocks-6-energy-giants-paying-massive-yields-are-flashing-buy/">at least 5% annual growth</a> for multiple years ahead.
- Parkland Acquisition drove higher fuel volumes (4,197 million gallons vs 2,295 million) and segment profit across Fuel Distribution, Terminals and Refinery
- Fuel Distribution margin rose to 16.8 cents per gallon from 10.7 cents per gallon
- Fuel Distribution segment profit increased $515 million, partially offset by a $255 million increase in expenses
- Terminals segment profit increased $81 million due to the Parkland and TanQuid acquisitions and improved transmix business performance
- Refinery segment contributed $238 million Adjusted EBITDA with 99% crude utilization and 105% composite utilization
- Pipeline Systems Adjusted EBITDA declined to $166 million from $182 million due to prior-period contract deficiency payments and a $13 million decrease in ET-S Permian Adjusted EBITDA
- Unrealized gains on commodity derivatives of $57 million benefited GAAP net income
What Is Sunoco's Outlook?
Sunoco expects to exceed its 2026 Adjusted EBITDA guidance range of $3.5 billion to $3.7 billion. Its capital allocation strategy includes a multi-year distribution growth rate of at least 5%. Leverage has returned to target in less than one year following the Parkland acquisition.
SUN YoY Financials
| Metric | Q3 2026 | Q3 2025 | Year over year |
|---|---|---|---|
| Revenue | $18.0B | $6.0B | +198.9% |
| Gross Profit | $1.3B | $627.0M | +104.3% |
| Operating Income | $740.0M | $252.0M | +193.7% |
| Net Income | $499.0M | $88.0M | +467.1% |
Figures from SEC filings and company reports. Not investment advice.