Sunoco's Increased Fuel Sale Boosts Q2 Results: Details
Written by Emily J. Thompson, Senior Investment Analyst
Updated: Aug 07 2024
0mins
Source: Benzinga
Financial Performance: Sunoco LP reported second-quarter FY24 revenues of $6.17 billion, exceeding expectations, with adjusted EBITDA rising to $320 million and EPS of $3.85 surpassing the consensus of $1.30. The company also declared a distribution of $0.8756 per unit for unitholders.
Future Outlook: Sunoco reaffirmed its FY24 adjusted EBITDA guidance of $1.46 billion to $1.52 billion and anticipates realizing increased synergies from its NuStar deal, alongside forming a joint venture with Energy Transfer LP for crude oil and produced water-gathering assets in the Permian Basin.
Analyst Views on SUN
Wall Street analysts forecast SUN stock price to rise over the next 12 months. According to Wall Street analysts, the average 1-year price target for SUN is 63.67 USD with a low forecast of 57.00 USD and a high forecast of 70.00 USD. However, analyst price targets are subjective and often lag stock prices, so investors should focus on the objective reasons behind analyst rating changes, which better reflect the company's fundamentals.
6 Analyst Rating
6 Buy
0 Hold
0 Sell
Strong Buy
Current: 57.290
Low
57.00
Averages
63.67
High
70.00
Current: 57.290
Low
57.00
Averages
63.67
High
70.00
About SUN
Sunoco LP is an energy infrastructure and fuel distribution master limited partnership operating in over 32 countries and territories in North America, the Greater Caribbean, and Europe. The Company's midstream operations include a network of approximately 14,000 miles of pipeline and over 160 terminals. Its segments include Fuel Distribution, Pipeline Systems and Terminals. The Fuel Distribution segment supplies motor fuel to independently operated dealer stations, distributors, commission agents and other consumers. The Pipeline Systems segment includes the operations of its refined products, crude oil and anhydrous ammonia pipelines, as well as other assets that are operated and managed on an integrated basis with its pipeline systems, including certain terminal and storage assets. Its Terminals segment is composed of facilities that provide storage, handling and other services on a fee basis for refined products, crude oil, specialty chemicals, renewable fuels and other liquids.
About the author
Emily J. Thompson
Emily J. Thompson, a Chartered Financial Analyst (CFA) with 12 years in investment research, graduated with honors from the Wharton School. Specializing in industrial and technology stocks, she provides in-depth analysis for Intellectia’s earnings and market brief reports.
