Quarterly ResultMay 7, 2026, 02:43 PM
Sunoco Q1 Net Income $465M, Revenue $10.69B; Completes Acquisitions
AI Summary
Sunoco LP reported a significant increase in net income attributable to common units to $465 million for Q1 2026, up from $207 million in Q1 2025. Total revenues more than doubled to $10,690 million from $5,179 million year-over-year. The company completed the acquisition of TanQuid for €206 million ($239 million) and assumed debt, along with other acquisitions totaling $50 million. Sunoco also refinanced debt by issuing $1.2 billion in new senior notes and redeeming $1.1 billion in existing senior notes, including Parkland's remaining notes.
Key Highlights
- Net income attributable to common units rose to $465M in Q1 2026 from $207M in Q1 2025.
- Total revenues increased to $10.69B in Q1 2026 from $5.18B in Q1 2025.
- Basic net income per common unit was $2.86 in Q1 2026, up from $1.22 in Q1 2025.
- Cash distribution per common unit increased to $0.9899 in Q1 2026 from $0.8976 in Q1 2025.
- Completed TanQuid acquisition for $239M cash and assumed $346M debt on January 16, 2026.
- Issued $1.2B in new senior notes (5.375% due 2031, 5.625% due 2034) in March 2026.
- Redeemed $1.1B in senior notes (6.000% due 2026, 6.000% due 2027) in March 2026.
- Net leverage ratio was 3.98 to 1.00 as of March 31, 2026.