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Sunoco
🇺🇸 NYSE:SUN
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Dec 31, 2021

Sunoco Q4 2021 Earnings Report

Reported strong fourth quarter results with increased net income and Adjusted EBITDA, driven by higher fuel volume and margins.

Key Takeaways

Sunoco LP reported a net income of $100 million for the fourth quarter of 2021, compared to $83 million in the fourth quarter of 2020. Adjusted EBITDA for the quarter was $198 million, up from $159 million in the prior year. The Partnership sold approximately 1.9 billion gallons of fuel, a 3.1% increase year-over-year, with a fuel margin of 12.0 cents per gallon compared to 9.2 cents per gallon a year ago.

Net income for Q4 2021 was $100 million, compared to $83 million in Q4 2020.

Adjusted EBITDA for Q4 2021 reached $198 million, up from $159 million in Q4 2020.

Fuel volume sold in Q4 2021 increased by 3.1% to approximately 1.9 billion gallons.

Fuel margin for all gallons sold was 12.0 cents per gallon in Q4 2021, compared to 9.2 cents per gallon a year ago.

Total Revenue
$4.95B
Previous year: $2.55B
+94.0%
EPS
$0.95
Previous year: $0.88
+8.0%
Motor Fuel Gallons Sold
1.89B
Previous year: 1.8B
+4.7%
Motor Fuel Profit per Gallon
12
Previous year: 9.2
+30.4%
Gross Profit
$339M
Cash and Equivalents
$25M
Previous year: $97M
-74.2%
Total Assets
$5.82B
Previous year: $5.27B
+10.4%

Sunoco

Sunoco

Sunoco Revenue by Segment

Forward Guidance

The Partnership expects full year 2022 Adjusted EBITDA to be between $770 and $810 million, fuel volumes to be between 7.7 and 8.1 billion gallons, fuel margins to be between 10.5 and 11.5 cents per gallon, operating expenses in a range of $490 to $500 million, growth capital expenditures of at least $150 million, and maintenance capital expenditures of approximately $50 million.

Positive Outlook

  • Full year 2022 Adjusted EBITDA expected to be between $770 and $810 million.
  • Fuel volumes are projected to be between 7.7 and 8.1 billion gallons.
  • Fuel margins are expected to be between 10.5 and 11.5 cents per gallon.
  • Growth capital expenditures are planned to be at least $150 million.
  • Maintenance capital expenditures are expected to be approximately $50 million.

Challenges Ahead

  • Operating expenses are projected to be in the range of $490 to $500 million.
  • Guidance excludes the pending acquisition.
  • Forward-looking statements are subject to risks and uncertainties.
  • Potential impacts from COVID-19 pandemic and commodity price instability.
  • The Partnership undertakes no obligation to update forward-looking statements.

Revenue & Expenses

Visualization of income flow from segment revenue to net income

Company Overview

Full financial data and analysis

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