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Mar 31, 2024
Sunoco Q1 2024 Earnings Report
Reported record first quarter net income and increased full year Adjusted EBITDA guidance.
Key Takeaways
Sunoco LP reported a record first quarter with a net income of $230 million and Adjusted EBITDA of $242 million. The company increased its full-year 2024 Adjusted EBITDA guidance to $1.46 billion to $1.52 billion, including the acquisition of NuStar Energy L.P., and also increased its quarterly distribution by 4%.
Net income for the first quarter of 2024 was $230 million, compared to $141 million in the first quarter of 2023.
Adjusted EBITDA for the first quarter of 2024 was $242 million, compared to $221 million in the first quarter of 2023.
The Partnership sold over 2.1 billion gallons of fuel in the first quarter of 2024, an increase of 9% from the first quarter of 2023.
The Board of Directors declared a distribution for the first quarter of 2024 of $0.8756 per unit, a 4% increase over the fourth quarter of 2023.
Revenue by Segment
Forward Guidance
The Partnership is revising its 2024 guidance as follows: Full Year 2024 Adjusted EBITDA in a range of $1.46 billion to $1.52 billion.
Historical Earnings Impact
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Avg. Return Before/After Earnings
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