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Sunoco
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 the $9 billion acquisition of Parkland, expanding operations to 32 countries and territories and creating the largest independent fuel distributor in the Americas and a leading energy infrastructure operator.
Parkland deal led to the creation of SunocoCorp, a new publicly traded entity, and is expected to be immediately accretive to distributable cash flow per unit, with over $250 million in synergies targeted by 2028 and greater than 10% accretion.
Entered into an agreement to acquire TanQuid, a fuel terminal operator in Germany and Poland, with closing expected in Q4 2025.
SunocoCorp to begin trading on NYSE as SUNC, broadening investment options and offering tax advantages for certain investors.
Net income for Q3 2025 was $137 million, a significant increase from $2 million in Q3 2024.
Financial highlights
Record Q3 adjusted EBITDA of $496 million, up from $470 million year-over-year, excluding one-time transaction expenses.
Revenue for Q3 2025 was $6.03 billion, up from $5.75 billion in Q3 2024.
Distributable cash flow (as adjusted) was $326 million.
Growth capital expenditures were $115 million; maintenance capital was $42 million in Q3 2025.
Declared Q3 distribution of $0.9202 per unit, up 1.25% sequentially, with a trailing 12-month coverage ratio of 1.8x.
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.
Expect to spend approximately $150 million in maintenance capital and at least $400 million in growth capital for full year 2025.
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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Next Sunoco earnings date
Q4 202517 Feb, 2026
Sunoco
Next Sunoco earnings date
Q4 202517 Feb, 2026
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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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