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Sunoco (SUN) investor relations material
Sunoco Q2 2025 earnings summary
Complete event summary combining all related documents: earnings call transcript, report, and slide presentation.
Executive summary
Record Q2 2025 results with adjusted EBITDA of $464M, distributable cash flow as adjusted of $300M, and quarterly distribution of $0.9088 per unit, marking the third consecutive increase.
Announced $9.1B Parkland and €500M TanQuid acquisitions, both expected to close in late 2025, expanding international operations.
Completed integration of NuStar and Zenith European terminals, driving growth in pipeline and terminal segments.
All business segments performed well, with expectations for the second half of 2025 to outperform the first.
Parkland acquisition approved by shareholders with over 93% support.
Financial highlights
Q2 2025 adjusted EBITDA was $464M, up from $400M year-over-year; distributable cash flow as adjusted was $300M.
Q2 2025 revenues were $5.39B, down from $6.17B year-over-year; net income was $86M, down from $501M.
Operating income for Q2 2025 was $203M, up from $150M year-over-year.
Growth capital expenditures were $120M and maintenance capital $40M in Q2.
Cash and cash equivalents stood at $116M as of June 30, 2025.
Outlook and guidance
On track to meet full-year 2025 adjusted EBITDA guidance of $1.90–$1.95B and projected capital spend ($400M+ growth, ~$150M maintenance).
Expect continued strong performance across all segments, with the second half of 2025 anticipated to outperform the first.
Confident in delivering double-digit accretion from acquisitions and maintaining a strong balance sheet.
Parkland and TanQuid acquisitions expected to close in late 2025, expanding international footprint.
On track to achieve at least 5% annual distribution growth for 2025.
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