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 (NYSE: SUN) is an energy infrastructure and fuel distribution master limited partnership, and its news flow reflects activities across midstream assets, fuel distribution operations, capital markets, and corporate transactions. Company press releases and SEC filings show that Sunoco LP regularly reports on earnings, guidance, acquisitions, and financing arrangements, providing a detailed view of its business developments.
Recent news has included announcements of quarterly and full-year earnings release dates and related conference calls, where management discusses financial and operating results. Sunoco LP has also issued news releases outlining its business outlook and guidance, including expectations for adjusted EBITDA, capital expenditures, and acquisition-related synergies. These items give readers insight into how the partnership views its operating environment and investment plans.
Corporate transaction updates are another key component of Sunoco LP’s news. The partnership has reported on its acquisition of Parkland Corporation, including regulatory milestones such as expiration of the Hart-Scott-Rodino waiting period, approvals under the Investment Canada Act, and the closing of the transaction. Follow-on releases have described exchange offers and consent solicitations for Parkland notes and the issuance of new notes by Sunoco LP.
News items also cover distributions approved by the board of directors of Sunoco LP’s general partner, amendments to credit agreements, and other financing activities. Because Sunoco LP’s general partner is owned by Energy Transfer LP, some Energy Transfer press releases reference their ownership of general partner interests and common units of Sunoco LP, providing additional context for investors following both entities.
By reviewing the news associated with SUN, readers can track developments in Sunoco LP’s midstream network, fuel distribution operations, strategic acquisitions, capital structure, and governance arrangements. This page brings together those updates so investors and researchers can follow the partnership’s disclosed activities over time.
Sunoco LP (NYSE: SUN) announced the early tender results for its cash tender offer for all outstanding 4.875% Senior Notes due 2023. As of November 23, 2020, $563,593,000 of the Notes have been validly tendered. The total consideration for each $1,000 of Notes tendered is $1,017.50, including an early tender payment of $30. The offer expires on December 8, 2020. Payment for accepted Notes is anticipated for November 24, 2020. Credit Suisse and Barclays are the lead dealer managers for the offer.
On November 9, 2020, Sunoco LP (NYSE: SUN) announced the removal of the $500 million cap for its cash tender offer for its 4.875% Senior Notes due 2023. The tender offer will now cover all outstanding notes, funded by proceeds from an upsized senior notes offering of $800 million and borrowings from its credit facility. All other terms of the tender offer remain unchanged. Credit Suisse and Barclays are the lead dealer managers, and the press release emphasizes that it does not constitute a notice of redemption or an offer to buy securities.
Sunoco LP (NYSE: SUN) has successfully priced an upsized private offering of $800 million in 4.500% senior notes due 2029. The offering will close on November 24, 2020, pending standard conditions. Sunoco aims to utilize the net proceeds, alongside borrowings from its revolving credit facility, to fund a tender offer for its existing 4.875% senior notes due 2023, with potential partial redemption included. The notes will be offered to qualified institutional buyers under Rule 144A and to non-U.S. persons under Regulation S, remaining unregistered under the Securities Act.
Sunoco LP (NYSE: SUN) announced a cash tender offer to buy up to $500 million of its outstanding 4.875% Senior Notes due 2023. The tender offer, which will expire on December 8, 2020, is being funded through a proposed $500 million debt securities offering and cash on hand. Holders can receive up to $1,017.50 for each $1,000 principal amount depending on when they tender their notes. If oversubscribed, purchases will occur on a prorated basis. Conditions apply, and the offer may be extended or terminated.
Sunoco LP (NYSE: SUN) announced a private offering of senior notes totaling $500 million, due in 2029. The funds will be used alongside cash on hand for a tender offer for its existing 4.875% senior notes maturing in 2023. The offering is aimed at qualified institutional buyers under Rule 144A and non-U.S. entities under Regulation S. Notably, the notes are not registered under the Securities Act, which limits their offering in the U.S.
Sunoco LP (NYSE: SUN) reported a net income of $100 million for Q3 2020, up from $66 million in Q3 2019. Adjusted EBITDA was $189 million, slightly down from $192 million year-over-year. The Partnership sold 1.9 billion gallons, a 12% decline from last year, but reported improved fuel margins of 12.1 cents per gallon. A distribution of $0.8255 per unit was declared for Q3 2020, payable on November 19, 2020. SUN maintained liquidity of $1.4 billion and a leverage ratio of 3.93 times. Full-year adjusted EBITDA is expected to exceed $740 million.
Sunoco LP (NYSE: SUN) has appointed Dylan Bramhall as Chief Financial Officer, effective immediately. Bramhall, with over 14 years of experience, previously served as Senior VP of Finance and Treasurer at Energy Transfer (NYSE: ET). His responsibilities included oversight of financial planning and risk management. President & CEO Joe Kim expressed confidence in Bramhall's ability to strengthen Sunoco’s financial foundation. Sunoco operates a broad distribution network and is a subsidiary of Energy Transfer, which emphasizes its substantial market presence in fuel distribution across over 30 states.
Sunoco LP (NYSE: SUN) announced a quarterly distribution of $0.8255 per common unit for Q3 2020, equating to $3.3020 annualized. This payment is scheduled for November 19, 2020, to unitholders recorded by November 6, 2020. The company will disclose its Q3 financial and operational results post-market on November 4, 2020, followed by a conference call on November 5, 2020, at 8:00 a.m. CT. Sunoco operates in fuel distribution across over 30 states, serving around 10,000 retail locations.
Sunoco LP (NYSE: SUN) reported strong financial results for Q2 2020, achieving a net income of $157 million, up from $55 million in Q2 2019. This increase was aided by a $90 million non-cash inventory adjustment due to rising RBOB prices. Adjusted EBITDA rose to $182 million from $152 million a year ago, driven by improved fuel margins of 13.5 cents per gallon and reduced operating expenses of $97 million. Despite a 26.3% decline in fuel sales volume to 1.5 billion gallons, the Partnership declared a distribution of $0.8255 per unit and maintained solid liquidity of $1.3 billion.
Sunoco LP (NYSE: SUN) announced a quarterly distribution for Q2 2020 of $0.8255 per common unit, equating to an annualized rate of $3.3020. The payment date is August 19, 2020, with record unitholders as of August 7, 2020. The company will release its Q2 financial results after market close on August 5, followed by a management call on August 6 at 8:00 a.m. CT to discuss these results.