Sunoco LP · Q2 2020 earnings

Briefing

Reported net income of $157 million and Adjusted EBITDA of $182 million.

Sunoco LP reported a net income of $157 million for the three months ended June 30, 2020, compared to a net income of $55 million in the second quarter of 2019. Adjusted EBITDA for the quarter totaled $182 million, up from $152 million in the second quarter of 2019. The partnership expects full year 2020 adjusted EBITDA to be above $700 million.

• Generated Net Income of $157 million, Adjusted EBITDA of $182 million and Distributable Cash Flow, as adjusted of $122 million
• Current quarter cash coverage of 1.41 times and trailing twelve months coverage of 1.55 times with leverage of 4.07 times at the end of the second quarter
• Expects full year 2020 Adjusted EBITDA to be above $700 million, ahead of original 2020 guidance
• The partnership sold 1.5 billion gallons in the second quarter, down 26.3% from the second quarter of 2019.

Headline financials

Revenue & EPS history

The Partnership expects full year 2020 adjusted EBITDA to be above $700 million. SUN maintains its previously issued guidance for 2020 growth capital expenditures of approximately $75 million, maintenance capital expenditures of $30 million and operating expenses in a range of $460 to $475 million.