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Sunoco (SUN) investor relations material
Sunoco Q3 2025 earnings summary
Complete event summary combining all related documents: earnings call transcript, report, and slide presentation.Q3 2025 earnings summary5 Nov, 2025
Executive summary
Completed $9 billion Parkland acquisition, expanding operations to 26 countries and adding a refinery in Burnaby, British Columbia, creating the largest independent fuel distributor in the Americas and a leading energy infrastructure operator.
Entered agreement to acquire TanQuid, adding 16 fuel terminals in Germany and Poland, expected to close in Q4 2025.
Net income for Q3 2025 was $137 million, up from $2 million in Q3 2024.
Adjusted EBITDA for Q3 2025 reached $496 million, up from $470 million in Q3 2024, excluding one-time transaction expenses.
SunocoCorp to begin trading on NYSE as SUNC, broadening investment options and offering tax advantages for certain investors.
Financial highlights
Q3 2025 revenues were $6.03 billion, up from $5.75 billion in Q3 2024.
Q3 2025 operating income was $252 million, up from $107 million in Q3 2024.
Q3 distributable cash flow (as adjusted) was $326 million.
Quarterly distribution increased by 1.25% to $0.9202 per unit, marking the fourth consecutive quarterly increase.
Cash and cash equivalents at September 30, 2025 were $3.24 billion, with $1.45 billion available under the Credit Facility.
Outlook and guidance
Formal 2026 guidance for the combined company to be provided early next year, post-integration of Parkland and pending TanQuid asset closing.
Free cash flow expected to exceed $1 billion annually in the near future, a 50%+ increase over standalone projections.
On track to achieve at least 5% annual distribution growth for 2025.
Confident in achieving leverage target of 4.0x within 12 months, faster than previously guided.
Dividend equivalency for SUNC expected for at least five years, with minimal corporate taxes anticipated.
Drivers of Q3 2025 Distributable Cash Flow decline
Outlook for Fuel Distribution segment margins
Acquisition strategy and leverage management
Synergy realization cadence and primary drivers
What enables higher distribution growth post-Parkland?
Leverage assets for shifting product flows?
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Frequently asked questions
Sunoco LP is a master limited partnership engaged in the distribution of motor fuels to convenience stores, independent dealers, commercial customers, and distributors. The company operates a nationwide fuel supply network in the United States. The company is headquartered in Dallas, Texas, and its shares are listed on the NYSE.
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