Sunoco Q4 2022 Earnings Report
Key Takeaways
Sunoco LP reported Q4 2022 results with a net income of $55 million and Adjusted EBITDA of $238 million. The Partnership sold approximately 2.0 billion gallons of fuel, up 5% from the previous year, with a fuel margin of 12.8 cents per gallon. The company reaffirms its full-year 2023 Adjusted EBITDA guidance of $850 to $900 million.
Net income was $55 million, compared to $100 million in Q4 2021.
Adjusted EBITDA was $238 million, compared to $198 million in Q4 2021.
Distributable Cash Flow, as adjusted, was $153 million, compared to $143 million a year ago.
Approximately 2.0 billion gallons of fuel were sold, up approximately 5% from the fourth quarter of 2021.
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Sunoco Revenue by Segment
Forward Guidance
The Partnership expects full year 2023 Adjusted EBITDA to be between $850 and $900 million. SUN expects 2023 fuel volumes to be approximately 7.8 billion gallons, fuel margins to be approximately 12.0 cents per gallon, operating expenses in a range of $525 to $535 million, growth capital expenditures of at least $150 million, and maintenance capital expenditures of approximately $60 million.
Positive Outlook
- Full year 2023 Adjusted EBITDA between $850 and $900 million.
- 2023 fuel volumes to be approximately 7.8 billion gallons.
- Fuel margins to be approximately 12.0 cents per gallon.
- Growth capital expenditures of at least $150 million.
- Maintenance capital expenditures of approximately $60 million.
Challenges Ahead
- Operating expenses in a range of $525 to $535 million.