Sunoco LP Reports Third Quarter 2024 Financial and Operating Results

Adjusted EBITDA⁽¹⁾ for the Pipeline Systems segment for the third quarter of 2024 was $136 million. Adjusted EBITDA⁽¹⁾ for the third quarter of 2024 includes approximately $11 million of one-time transaction-related expenses⁽²⁾. The segment averaged throughput volumes of approximately 1.2 million barrels per day in the third quarter of 2024.

Adjusted EBITDA⁽¹⁾ for the Terminals segment for the third quarter of 2024 was $67 million. Adjusted EBITDA⁽¹⁾ for the third quarter of 2024 includes approximately $3 million of one-time transaction-related expenses⁽²⁾. The segment averaged throughput volumes of approximately 690 thousand barrels per day in the third quarter of 2024.

Distribution

On October 28, 2024, the Board of Directors of SUN's general partner declared a distribution for the third quarter of 2024 of $0.8756 per unit, or $3.5024 per unit on an annualized basis. The distribution will be paid on November 19, 2024, to common unitholders of record on November 8, 2024.

Liquidity, Leverage and Credit

At September 30, 2024, SUN had long-term debt of approximately $7.3 billion and approximately $1.4 billion of liquidity remaining on its $1.5 billion revolving credit facility. SUN's leverage ratio of net debt to Adjusted EBITDA⁽¹⁾, calculated in accordance with its credit facility, was 4.0 times at the end of the third quarter.

Capital Spending

SUN's total capital expenditures in the third quarter of 2024 were $93 million, which included $67 million of growth capital and $26 million of maintenance capital.

(1)  Adjusted EBITDA and Distributable Cash Flow, as adjusted, are non-GAAP financial measures of performance that have limitations and should not be considered as a substitute for net income. Please refer to the discussion and tables under "Supplemental Information" later in this news release for a discussion of our use of Adjusted EBITDA and Distributable Cash Flow, as adjusted, and a reconciliation to net income.

(2)  Transaction-related expenses include certain one-time expenses incurred with acquisitions and divestitures.

Earnings Conference Call

Sunoco LP management will hold a conference call on Wednesday, November 6, 2024, at 9:00 a.m. Central Time (10:00 a.m. Eastern Time) to discuss results and recent developments. To participate, dial 877-407-6184 (toll free) or 201-389-0877 approximately 10 minutes before the scheduled start time and ask for the Sunoco LP conference call. The call will also be accessible live and for later replay via webcast in the Investor Relations section of Sunoco's website at www.sunocolp.com under Webcasts and Presentations.

About Sunoco LP

Sunoco LP (NYSE: SUN) is a leading energy infrastructure and fuel distribution master limited partnership operating in over 40 U.S. states, Puerto Rico, Europe, and Mexico. The Partnership's midstream operations include an extensive network of approximately 14,000 miles of pipeline and over 100 terminals. This critical infrastructure complements the Partnership's fuel distribution operations, which serve approximately 7,400 Sunoco and partner branded locations and additional independent dealers and commercial customers. SUN's general partner is owned by Energy Transfer LP (NYSE: ET).

Forward-Looking Statements

This news release may include certain statements concerning expectations for the future that are forward-looking statements as defined by federal law. Such forward-looking statements are subject to a variety of known and unknown risks, uncertainties, and other factors that are difficult to predict and many of which are beyond management's control. An extensive list of factors that can affect future results are discussed in the Partnership's Annual Report on Form 10-K and other documents filed from time to time with the Securities and Exchange Commission. The Partnership undertakes no obligation to update or revise any forward-looking statement to reflect new information or events.

The information contained in this press release is available on our website at www.sunocolp.com

Contacts
Investors:
Scott Grischow, Treasurer, Senior Vice President – Finance
(214) 840-5660, scott.grischow@sunoco.com

Media:
Chris Cho, Senior Manager – Communications
(469) 646-1647, chris.cho@sunoco.com 

– Financial Schedules Follow –

SUNOCO LP CONSOLIDATED BALANCE SHEETS (Dollars in millions) (unaudited)
	September 30, 2024		December 31, 2023
ASSETS
Current assets:
Cash and cash equivalents	$                    116		$                      29
Accounts receivable, net	902		856
Accounts receivable from affiliates	—		20
Inventories, net	890		889
Other current assets	157		133
Total current assets	2,065		1,927
Property and equipment	8,856		2,970
Accumulated depreciation	(1,105)		(1,134)
Property and equipment, net	7,751		1,836
Other assets:
Operating lease right-of-use assets, net	474		506
Goodwill	1,484		1,599
Intangible assets, net	553		544
Other non-current assets	396		290
Investment in unconsolidated affiliates	1,399		124
Total assets	$               14,122		$                 6,826
LIABILITIES AND EQUITY
Current liabilities:
Accounts payable	$                    929		$                    828
Accounts payable to affiliates	222		170
Accrued expenses and other current liabilities	515		353
Operating lease current liabilities	32		22
Current maturities of long-term debt	78		—
Total current liabilities	1,776 Werbung Mehr Nachrichten zur Energy Transfer Equity Aktie kostenlos abonnieren E-Mail-Adresse Bitte überprüfe deine die E-Mail-Adresse. Benachrichtigungen von ARIVA.DE (Mit der Bestellung akzeptierst du die Datenschutzhinweise) -1 Vielen Dank, dass du dich für unseren Newsletter angemeldet hast. Du erhältst in Kürze eine E-Mail mit einem Aktivierungslink. Hinweis: ARIVA.DE veröffentlicht in dieser Rubrik Analysen, Kolumnen und Nachrichten aus verschiedenen Quellen. Die ARIVA.DE AG ist nicht verantwortlich für Inhalte, die erkennbar von Dritten in den „News“-Bereich dieser Webseite eingestellt worden sind, und macht sich diese nicht zu Eigen. Diese Inhalte sind insbesondere durch eine entsprechende „von“-Kennzeichnung unterhalb der Artikelüberschrift und/oder durch den Link „Um den vollständigen Artikel zu lesen, klicken Sie bitte hier.“ erkennbar; verantwortlich für diese Inhalte ist allein der genannte Dritte. Andere Nutzer interessierten sich auch für folgende News 14.12.24 - wallstreetONLINE ... Roboter-Revolution: Megatrend: Dieser Wachstumsmarkt könnte bis 2034 um 294% wachsen! 14.12.24 - Börse-Global Atos Origin ADR Aktie: Aktuelle Markttrends 14.12.24 - dpa-AFX ROUNDUP/Heil: Mit längerem Kurzarbeitergeld VW-Krise entschärfen 1000 EILMELDUNG    Der nächste MicroStrategy? Der Solana-Schachzug dieses Unternehmens ist UMWERFEND weiterlesen» Anzeige wo-site-teaser-box-18830_site-teaser-box_2024-12-14_09%253A00%253A00_2024-12-16_09%253A00%253A59