Sunoco Q1 2020 Earnings Report
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.
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Forward Guidance
The Partnership revised its 2020 capital guidance and withdrew its previous guidance on 2020 fuel volume, margin and adjusted EBITDA.