Sunoco Q1 2020 Earnings Report

Sunoco LP reported a net loss due to non-cash inventory adjustments, but Adjusted EBITDA and Distributable Cash Flow increased year-over-year.

Key Takeaways

Sunoco LP reported a net loss of $128 million for the first quarter of 2020, which included $227 million of non-cash inventory adjustments. However, Adjusted EBITDA increased to $209 million, and Distributable Cash Flow, as adjusted, rose to $159 million. The Partnership sold 1.9 billion gallons, with a fuel margin of 13.1 cents per gallon.

Net loss was $128 million, impacted by $227 million in non-cash inventory adjustments.

Adjusted EBITDA totaled $209 million, up from $153 million in the first quarter of 2019.

Distributable Cash Flow, as adjusted, was $159 million, compared to $99 million a year ago.

The Partnership sold 1.9 billion gallons, with fuel margin at 13.1 cents per gallon.

Total Revenue

$3.27B

Previous year: $3.69B