Sunoco LP reports news about its fuel distribution and energy infrastructure partnership, including operating results, cash distributions, acquisitions, and capital-structure actions. The master limited partnership distributes motor fuel to Sunoco and partner-branded retail locations, independent dealers, distributors, and commercial customers, and operates midstream assets that include pipeline systems and terminals across North America, the Greater Caribbean, and Europe.
Recurring updates cover Fuel Distribution and Pipeline Systems performance, quarterly distribution decisions, senior note offerings and debt refinancing, completed acquisition integration, and outlook commentary. Sunoco’s general partner is owned by Energy Transfer LP, and related announcements may also reference SunocoCorp LLC’s direct limited partner interest in Sunoco LP.
Sunoco LP (NYSE: SUN) reported third quarter 2024 financial results with net income dropping to $2 million from $272 million in Q3 2023. However, Adjusted EBITDA increased to $456 million from $257 million year-over-year, including $14 million in one-time transaction expenses. The Fuel Distribution segment sold 2.1 billion gallons with a margin of 12.8 cents per gallon. The Pipeline Systems segment averaged 1.2 million barrels per day throughput, while Terminals segment averaged 690,000 barrels per day. SUN declared a quarterly distribution of $0.8756 per unit and maintained a leverage ratio of 4.0x with $1.4 billion in available liquidity.
Sunoco LP (NYSE: SUN) has announced its quarterly distribution for Q3 2024, maintaining the payment at $0.8756 per common unit, which equals $3.5024 per common unit annually. The distribution will be paid on November 19, 2024 to common unitholders of record as of November 8, 2024.
Energy Transfer LP (NYSE: ET) has announced a quarterly cash distribution increase to $0.3225 per common unit ($1.29 annualized) for Q3 2024, representing a 3.2% increase compared to Q3 2023. The distribution will be paid on November 19, 2024, to unitholders of record as of November 8, 2024. The company will release Q3 2024 earnings on November 6, 2024, after market close, followed by a conference call at 3:30 p.m. Central Time. Energy Transfer operates one of the largest energy asset portfolios in the US, with over 130,000 miles of pipeline across 44 states.
Energy Transfer LP (ET) has declared a quarterly cash distribution of $0.2111 per Series I Preferred Unit. The distribution will be paid on November 14, 2024, to Series I unitholders of record as of November 4, 2024. The company operates one of America's largest energy asset portfolios, including 130,000 miles of pipeline across 44 states. ET owns significant stakes in Sunoco LP (21%) and USA Compression Partners (39%), along with extensive infrastructure for natural gas, crude oil, and NGL operations.
Energy Transfer LP (NYSE: ET) has announced its plans to release third quarter 2024 earnings on Wednesday, November 6, 2024, after market close. The company will host a conference call the same day at 3:30 p.m. Central Time/4:30 p.m. Eastern Time to discuss quarterly results and provide a company update. The call will be broadcast live via webcast on Energy Transfer's website and will be available for replay for a time.
Energy Transfer LP operates one of the largest and most diverse portfolios of energy assets in the United States, with over 130,000 miles of pipeline and associated infrastructure across 44 states. The company's strategic network covers all major U.S. production basins, offering a range of services including natural gas midstream, transportation and storage, as well as crude oil, NGL, and refined product transportation and terminalling.
Sunoco LP (NYSE: SUN) has announced the timing for its third quarter 2024 earnings release and conference call. The company will release its financial and operating results before the market opens on Wednesday, November 6, 2024. Following the release, management will hold a conference call at 9:00 a.m. Central Time (10:00 a.m. Eastern Time) on the same day to discuss SUN's results.
Investors and interested parties can participate in the call by phone or webcast. To join by phone, dial 877-407-6184 (toll-free) or 201-389-0877 at least 10 minutes before the call starts. A replay will be available until November 13, 2024, by dialing 877-660-6853 (toll-free) or 201-612-7415 and using the conference ID 13749384. To join the webcast, connect via the Webcasts and Presentations page of SUN's Investor Relations website at http://www.sunocolp.com.
AtoB, a fintech payments platform for the trucking industry, has partnered with Sunoco to expand its fuel card network. This collaboration adds 5,000+ Sunoco locations across 40+ states to AtoB's network, offering exclusive discounts to customers. The partnership includes over 100 truck diesel locations, with premier discounts at 12 key Sunoco stations along the New Jersey Turnpike, which are part of the AMBEST network.
This expansion brings AtoB's total coverage to approximately 2,000+ truck stop locations and 20,000+ gas stations across the U.S. The partnership aims to provide substantial savings and enhanced convenience for both Over-the-Road and Local fleets. AtoB users can access these competitive fuel discounts by using their fuel card at Sunoco locations.
Energy Transfer LP (NYSE: ET) has announced the pricing of a secondary public offering of 38,755,996 common units at $15.78 per unit. The offering is being conducted by WTG Midstream and an affiliate of Stonepeak, who will receive all proceeds. Energy Transfer will not sell any units or receive any proceeds from this offering. Certain officers and directors of the Partnership's general partner have agreed to purchase 3,040,000 common units at the same price. Barclays is serving as the underwriter, and the offering is expected to close on August 12, 2024. The offering is made pursuant to a registration statement declared effective on July 31, 2024, and is subject to customary closing conditions.
Energy Transfer LP (NYSE: ET) has announced a secondary public offering of 38,755,996 common units by WTG Midstream and a Stonepeak affiliate. The Selling Unitholders will receive all proceeds from the offering, with Energy Transfer not selling any units or receiving any proceeds. Barclays is serving as the underwriter for this market-dependent offering. The offering is made under a previously filed registration statement that became effective on July 31, 2024. Interested parties can obtain the prospectus from Barclays Capital Inc. or the SEC's website. This announcement does not constitute an offer to sell or a solicitation to buy securities.
Energy Transfer LP (NYSE:ET) reported strong financial results for Q2 2024, with net income attributable to partners of $1.31 billion and adjusted EBITDA of $3.76 billion, up from $3.12 billion in Q2 2023. The company achieved record-breaking volumes across several segments, including crude oil transportation (up 23%), NGL exports, and NGL transportation. Energy Transfer completed the acquisition of WTG Midstream, adding 6,000 miles of gas gathering pipelines and eight processing plants. The company raised its full-year 2024 Adjusted EBITDA guidance to $15.3-$15.5 billion and increased its quarterly cash distribution to $0.32 per common unit. Energy Transfer also received credit rating upgrades from Moody's, Fitch, and S&P, reflecting improved financial performance.