Sunoco Q4 2020 Earnings Report
Key Takeaways
Sunoco LP's net income for Q4 2020 was $83 million, the same as in Q4 2019. Adjusted EBITDA totaled $159 million, compared with $168 million in the fourth quarter of 2019. The Partnership sold 1.8 billion gallons in the fourth quarter of 2020, down 12% from the fourth quarter of 2019.
Net income was $83 million versus $83 million in the fourth quarter of 2019.
Adjusted EBITDA for the quarter totaled $159 million compared with $168 million in the fourth quarter of 2019.
The Partnership sold 1.8 billion gallons in the fourth quarter of 2020, down 12% from the fourth quarter of 2019.
Fuel margin for all gallons sold was 9.2 cents per gallon for the quarter compared to 9.9 cents per gallon a year ago.
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Forward Guidance
The Partnership expects full year 2021 Adjusted EBITDA to be between $725 and $765 million. SUN expects 2021 fuel volumes to be between 7.25 and 7.75 billion gallons, fuel margins to be between 11.0 and 12.0 cents per gallon, operating expenses in a range of $440 to $450 million, growth capital expenditures of at least $120 million, and maintenance capital expenditures of approximately $45 million.
Positive Outlook
- Adjusted EBITDA between $725 and $765 million.
- Fuel volumes between 7.25 and 7.75 billion gallons.
- Fuel margins between 11.0 and 12.0 cents per gallon.
- Operating expenses in a range of $440 to $450 million.
- Growth capital expenditures of at least $120 million.