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Mar 31, 2023
Sunoco Q1 2023 Earnings Report
Reported first quarter results with increased distribution and completed terminal acquisition.
Key Takeaways
Sunoco LP reported a net income of $141 million for Q1 2023, with an adjusted EBITDA of $221 million and distributable cash flow of $160 million. The company increased its quarterly distribution by 2% and completed the acquisition of 16 refined product terminals from Zenith Energy for $110 million. Full-year adjusted EBITDA guidance was raised to $865 to $915 million to include the Zenith acquisition.
Net income was $141 million.
Adjusted EBITDA was $221 million.
Distributable Cash Flow, as adjusted, was $160 million.
Completed the acquisition of 16 refined product terminals from Zenith Energy for $110 million.
Sunoco
Sunoco
Sunoco Revenue by Segment
Forward Guidance
As a result of the Zenith acquisition, the Partnership is revising its 2023 guidance as follows:
Positive Outlook
- Full Year 2023 Adjusted EBITDA(1)(2): In a range of $865 to $915 million
- Operating Expenses(3): In a range of $540 to $550 million
- Maintenance Capital: Approximately $65 million