Companies /Energy

Sunoco LP

NYSE: SUN Oil & Gas Refining & Marketing
$74.96
▲ $0.97 (+1.31%) today
Markets open · 10:56am ET

Q2 2025 Earnings

Reported Aug 6, 2025, 7:16am ET · SEC source
$0.33
Miss −75.93%
EPS · est. $1.37
$5.4B
Miss −2.70%
Revenue · est. $5.5B
−5.8%
Trailing market
SUN vs S&P since report
1 quarter
Consecutive EPS misses

Market Reaction

% change · around the report
0+2%Aug 6Aug 7report 7:16am ETearnings+0.2%−1.0%
0+2%Aug 6Aug 7earnings+0.2%−1.0%
SUN −1.0%S&P 500 +0.2%
0+2%Aug 6Aug 7report 7:16am ETearnings+1.3%−1.0%
0+2%Aug 6Aug 7earnings+1.3%−1.0%
SUN −1.0%NASDAQ +1.3%
−6%−3%0+3%Aug 5Aug 13report 7:16am ETearnings+2.6%−2.1%
−6%−3%0+3%Aug 5Aug 13earnings+2.6%−2.1%
SUN −2.1%S&P 500 +2.6%
−6%−3%0+3%Aug 5Aug 13report 7:16am ETearnings+3.7%−2.1%
−6%−3%0+3%Aug 5Aug 13earnings+3.7%−2.1%
SUN −2.1%NASDAQ +3.7%
−1.16%
Day of report
−1.08%
Next session
−0.95%
One week
−3.29%
30 days

S&P 500 over the same 30 days: +2.54%.

Did SUN Beat Earnings? Q2 2025 Results

Sunoco LP delivered a headline miss in Q2 2025, with earnings per unit of $0.33 falling sharply short of the $1.37 consensus estimate, a gap of 75.93%, while revenue of $5.39 billion trailed expectations by 2.70% and declined 12.7% year over year. The steep drop in reported net income, to $86.00 million from $501.00 million in Q2 2024, is largely explained by the prior-year period's $598.00 million gain tied to the West Texas asset sale, a one-time tailwind that skewed the year-ago comparison. Strip that out, and the underlying story looks considerably healthier; Adjusted EBITDA excluding transaction costs climbed to $464.00 million from $400.00 million, fueled by Pipeline Systems tripling its contribution to $177.00 million as NuStar integration costs faded and the ET-S Permian joint venture came online. Sunoco reaffirmed full-year 2025 Adjusted EBITDA guidance of $1.90 billion to $1.95 billion, and the pending $9.1 billion Parkland acquisition, approved by more than 93% of shareholders, remains on track to close in Q4 2025.

Key Takeaways
  • Pipeline Systems and Terminals segments benefited from full-quarter contribution of NuStar assets acquired May 2024
  • Formation of ET-S Permian joint venture added $48 million to Pipeline Systems Adjusted EBITDA
  • Transaction-related expenses declined significantly to $10 million from $80 million year-over-year
  • Fuel Distribution segment pressured by lower fuel margins of 10.5 cents per gallon versus 11.8 cents in Q2 2024
  • Fuel volumes remained stable at 2.2 billion gallons despite West Texas asset divestiture

Forward Guidance & Outlook

Sunoco LP reaffirmed its full-year 2025 Adjusted EBITDA guidance of $1.90 billion to $1.95 billion, excluding one-time transaction-related expenses. The Partnership targets annual distribution growth of at least 5% for 2025. The Parkland merger received shareholder approval with over 93% of votes in favor and remains on schedule to close in Q4 2025, subject to customary regulatory and stock exchange listing approvals.

SUN YoY Financials

Q2 2025 vs Q2 2024 · SEC filings Q2 2024 Q2 2025
$0$2.0B$4.0B$6.0B$6.2B$5.4BRevenue$487.0M$416.0MGross Profit$150.0M$203.0MOperating Income$455.0M$86.0MNet Income
$0$2.0B$4.0B$6.0BRevenueGross ProfitOperating IncomeNet Income

Figures from SEC filings and company reports. Not investment advice.