Sunoco Q1 2022 Earnings Report
Key Takeaways
Sunoco LP reported a strong first quarter with a net income of $216 million, Adjusted EBITDA of $191 million, and Distributable Cash Flow, as adjusted, of $142 million. The company increased its full-year 2022 Adjusted EBITDA guidance to between $795 and $835 million, including the recently completed transmix processing and terminal acquisition in Huntington, Indiana. They also commenced commercial operations of a greenfield terminal in Brownsville, Texas and amended and extended their $1.5 billion revolving credit facility.
Net income was $216 million versus $154 million in the first quarter of 2021.
Adjusted EBITDA for the quarter was $191 million compared with $157 million in the first quarter of 2021.
Distributable Cash Flow, as adjusted, for the quarter was $142 million, compared to $108 million a year ago.
The Partnership sold approximately 1.8 billion gallons of fuel in the first quarter of 2022, representing a 1% increase from the first quarter of 2021.
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Sunoco Revenue by Segment
Forward Guidance
Sunoco LP increased its full year 2022 Adjusted EBITDA guidance to between $795 and $835 million.