Sunoco LP

Sunoco LP delivered a tale of two metrics in Q4 2025, posting revenue of $8.60 billion that topped the $6.43 billion consensus by 33.66% and surged 63.2% year over year, while earnings per unit of $0.09 fell dramatically short of the $1.44 analyst estimate, a miss of 93.75%. The wide earnings gap traces directly to the October 31 close of Sunoco's transformative acquisition of Parkland Corporation, which simultaneously turbocharged top-line volumes and weighed on net income through $60.00 million in one-time transaction costs, depreciation and amortization climbing to $219.00 million from $152.00 million, and interest expense rising to $166.00 million from $117.00 million. Underneath those charges, the operational picture was considerably stronger; adjusted EBITDA excluding transaction costs reached $706.00 million, up sharply from $439.00 million a year ago, with the Fuel Distribution segment alone contributing $332.00 million as fuel volumes rose 54% to 3.3 billion gallons. Sunoco raised its quarterly distribution 1.25% to $0.93 per unit and is targeting at least 5% annual distribution growth for 2026, projecting full-year adjusted EBITDA of $3.10 billion to $3.30 billion as Parkland integration matures.