Welcome to our dedicated page for Sunoco Lp/Sunoco Fin news (Ticker: SUN), a resource for investors and traders seeking the latest updates and insights on Sunoco Lp/Sunoco Fin stock.
Sunoco LP (SUN) maintains a leading position in fuel distribution and energy infrastructure across North America. This news hub provides investors and industry professionals with essential updates on strategic initiatives, financial performance, and operational developments.
Access curated press releases covering earnings announcements, partnership agreements, and infrastructure expansions. Our repository includes verified updates on SUN's three core segments: wholesale fuel distribution, pipeline network enhancements, and terminal storage optimization.
Key updates feature acquisition strategies, supply chain innovations, and regulatory compliance developments. Bookmark this page for real-time access to SUN's official communications and market-moving announcements.
Sunoco LP (NYSE: SUN) announced a private offering of senior notes totaling $800 million, due in 2030 and 2032. The notes will be co-issued by Sunoco Finance Corp., a wholly owned subsidiary. Sunoco plans to utilize the proceeds to fund a tender offer for its outstanding 5.500% senior notes due 2026. The offering is exempt from registration under the Securities Act, targeting qualified institutional buyers and non-U.S. persons. Sunoco continues to face risks related to the COVID-19 pandemic and commodity price instability.
Energy Transfer (NYSE: ET) has signed a 15-year Power Purchase Agreement (PPA) with SB Energy for 120 megawatts from the Eiffel Solar project in Texas. This agreement supports Energy Transfer's commitment to renewable energy and complements its first agreement with the Maplewood 2 solar farm. SB Energy plans to commence construction on the Eiffel Solar project in 2022, with energy delivery starting in January 2024. The initiative aligns with the growing demand for clean energy solutions in Texas.
Sunoco LP (NYSE: SUN) reported a net income of $166 million for Q2 2021, up from $157 million in Q2 2020. Adjusted EBITDA increased to $201 million, driven by higher fuel volume and gross profit, despite lower fuel margins and increased operating expenses. The company sold 1.9 billion gallons of fuel, marking a 28% increase year-over-year. A distribution of $0.8255 per unit was declared, with cash coverage at 1.67 times. SUN executed agreements to acquire terminals for $255.5 million, expected to enhance value for unitholders. Full-year EBITDA outlook remains at $725 to $765 million.
Sunoco LP (NYSE: SUN) has announced its acquisition of nine refined product terminals for a total of $255.5 million. The acquisitions include terminals from NuStar Energy L.P. and Cato, Incorporated, significantly expanding SUN's midstream operations. This strategic move enhances SUN's fuel distribution capabilities while maintaining its financial leverage targets. The deal is expected to be accretive to unitholders upon closing in Q4 2021. The acquired terminals, primarily located on the East Coast and in the Midwest, have a combined storage capacity of approximately 14.8 million barrels.
Sunoco LP (NYSE: SUN) announced a quarterly distribution of $0.8255 per common unit for Q2 2021, equating to an annualized rate of $3.3020. This distribution will be paid on August 19, 2021, to unitholders of record by August 6, 2021. Additionally, SUN will report its Q2 2021 financial results before market opening on August 3, 2021, followed by a conference call at 9:00 a.m. CT. This highlights SUN's ongoing commitment to maintain distributions amidst its operational activities.
Sunoco LP (NYSE: SUN) reported a net income of $154 million for Q1 2021, a significant improvement from a net loss of $128 million in Q1 2020. However, Adjusted EBITDA fell to $157 million from $209 million year-over-year due to lower fuel volume and margins. Fuel sales dropped by 7.5% to 1.76 billion gallons, with margins at 10.3 cents per gallon. The company is advancing a $55 million refined products terminal at Brownsville, Texas, expected to enhance fuel distribution capabilities. The quarterly distribution is set at $0.8255 per unit, with coverage ratios remaining solid.
Sunoco LP (NYSE: SUN) announced a quarterly distribution of $0.8255 per common unit for Q1 2021, equating to an annualized rate of $3.3020. The distribution is scheduled for payment on May 19, 2021 to unitholders of record by May 11, 2021. Additionally, the company will release its Q1 2021 financial results on May 6, 2021 before market open, followed by a conference call at 9:00 a.m. CT. Sunoco operates in motor fuel distribution across over 30 states, serving approximately 10,000 retail locations.
Sunoco LP (NYSE: SUN) announced the filing of its 2020 Annual Report on Form 10-K on February 19, 2021, with the SEC. The report includes audited financial statements for the fiscal year ending December 31, 2020. Sunoco distributes motor fuel to approximately 10,000 convenience stores and other customers in over 30 states. Shareholders may request a printed version of the report free of charge by contacting the Investor Relations team.
Sunoco LP (SUN) reported its financial results for Q4 and the full year 2020, with net income of $83 million for Q4, unchanged from Q4 2019. Adjusted EBITDA for Q4 was $159 million, down from $168 million. Full-year net income fell to $212 million from $313 million in 2019. However, adjusted EBITDA increased to $739 million, up 11% year-over-year. Fuel volume sold decreased by 12% to 1.8 billion gallons in Q4, with a fuel margin of 9.2 cents per gallon. The Partnership announced a distribution of $0.8255 per unit for Q4 2020, payable on February 19, 2021.
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