SunocoCorp LLC (SUNC) Q2 2026 earnings summary

Executive summary

• Q2 2026 net income rose to $283 million, up from $86 million in Q2 2025, and Adjusted EBITDA reached $996 million, excluding $14 million in one-time transaction expenses, reflecting strong momentum and successful integration of recent acquisitions.

• Full-year 2026 Adjusted EBITDA guidance was raised by $400 million to $3.5–$3.7 billion, driven by robust performance across all segments and recent acquisitions.

• Declared a quarterly distribution increase of 1.25% sequentially and over 10% year-over-year, marking the seventh consecutive quarterly increase and targeting a multi-year growth rate of at least 5%.

• Major acquisitions, including Parkland, TanQuid, and Delta, contributed significantly to volume and profit growth, with integration and synergy realization ahead of schedule.

• All four business segments—Fuel Distribution, Pipeline Systems, Terminals, and Refinery—delivered strong results, supporting continued growth expectations.

Financial highlights

• Q2 2026 revenues were $14.26 billion, up from $5.39 billion year-over-year; operating income was $583 million, up from $203 million.

• Q2 adjusted EBITDA: $996 million; Distributable Cash Flow as adjusted: $608 million, doubling from $300 million in Q2 2025.

• Net income per common unit was $0.94, up from $0.33 in Q2 2025; cash distribution per common unit increased to $1.0023, up 10% year-over-year.

• Cash and cash equivalents at June 30, 2026 were $773 million; unused credit facility availability was $2.3 billion.

• Growth capital expenditures: $125 million; maintenance capital: $77 million in Q2; total Q2 capital expenditures were $202 million.

Outlook and guidance

• Full-year 2026 adjusted EBITDA guidance raised to $3.5–$3.7 billion, reflecting confidence in second-half performance and recent acquisitions.

• Maintenance capital expenditures for 2026 are expected to be $400–$450 million; growth capital at least $600 million.

• Expect to exceed $500 million annual bolt-on acquisition target in 2026 and future years.

• Anticipate continued growth in Distributable Cash Flow and distributions, supported by strong cash flows and balance sheet.

• All segments expected to maintain strong performance in the back half of 2026.