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SUN

Sunoco LP

SUN

Sunoco LP • NYSE
$56.23 ▲ 0.50% (+0.28)
Market Cap $7.67 B
52w High $59.88
52w Low $47.98
Dividend Yield 3.61%
P/E 20.23
Volume 165.29K
Outstanding Shares 136.37M

Income Statement

Period Revenue Operating Expense Net Income Net Profit Margin Earnings Per Share EBITDA
Q3-2025 $6.032B ▲ $375M ▲ $88M ▲ 1.459% ▲ $0.64 ▲ $433M ▲
Q2-2025 $5.39B ▲ $212M ▲ $45M ▼ 0.835% ▼ $0.33 ▼ $370M ▼
Q1-2025 $5.179B ▼ $201M ▼ $166M ▲ 3.205% ▲ $1.22 ▲ $482M ▲
Q4-2024 $5.269B ▼ $236M ▲ $103M ▲ 1.955% ▲ $0.81 ▲ $403M ▲
Q3-2024 $5.751B $222M $-35M -0.609% $-0.26 $228M

Balance Statement

Period Cash & Short-term Total Assets Total Liabilities Total Equity
Q3-2025 $3.239B ▲ $17.845B ▲ $12.304B ▲ $5.541B ▲
Q2-2025 $116M ▼ $14.428B ▲ $10.331B ▲ $4.097B ▼
Q1-2025 $172M ▲ $14.342B ▼ $10.186B ▼ $4.156B ▲
Q4-2024 $94M ▼ $14.375B ▲ $10.307B ▲ $4.068B ▼
Q3-2024 $116M $14.122B $9.942B $4.18B

Cash Flow Statement

Period Net Income Cash From Operations Cash From Investing Cash From Financing Net Change Free Cash Flow
Q3-2025 $137M ▲ $401M ▲ $-244M ▲ $2.966B ▲ $3.123B ▲ $244M ▲
Q2-2025 $86M ▼ $243M ▲ $-249M ▼ $-50M ▼ $-56M ▼ $83M ▲
Q1-2025 $207M ▲ $156M ▲ $-101M ▲ $23M ▲ $78M ▲ $55M ▲
Q4-2024 $141M ▲ $123M ▼ $-132M ▼ $-13M ▲ $-22M ▲ $-9M ▼
Q3-2024 $85M $206M $-114M $-202M $-110M $105M

Revenue by Products

Product Q3-2024Q1-2025Q2-2025Q3-2025
Fuel
Fuel
 $5.37Bn ▲$4.81Bn ▼$4.99Bn ▲$5.64Bn ▲
Lease Income
Lease Income
 $30.00M ▲$30.00M ▲$30.00M ▲$30.00M ▲
Other
Other
 $110.00M ▲$90.00M ▼$100.00M ▲$100.00M ▲

Five-Year Company Overview

Income Statement

Income Statement Sunoco’s sales have grown strongly over the last several years and, while revenue has eased a bit from its recent peak, it remains far above pandemic-era levels. Profitability has improved more than sales: operating profit and cash-style earnings have trended upward, and net income has moved from modest to clearly solid. This suggests better cost control, scale benefits from acquisitions, and a more efficient network. The business is still sensitive to fuel volumes and margins, but overall earnings power looks stronger and more resilient than it was a few years ago.

Balance Sheet

Balance Sheet The balance sheet has expanded sharply, mainly because of large acquisitions that added pipelines, terminals, and other assets. Debt remains substantial and has also risen, but the company’s ownership value has grown as well, indicating that at least part of the borrowing has been used to build long-lived infrastructure rather than just plug gaps. Cash on hand is relatively low, so the partnership depends on steady cash generation and ongoing access to financing markets. The key risk is that higher leverage increases exposure to interest rates and refinancing conditions, especially if integration of the new assets takes longer or delivers weaker returns than planned.

Cash Flow

Cash Flow Underlying cash generation from operations has been steady and dependable over the last five years, even as reported earnings moved around. The business has consistently produced more cash than it spends on maintaining and expanding its asset base, which is a positive sign for a capital-heavy infrastructure operator. Recently, free cash flow has tightened because investment spending has stepped up as Sunoco integrates and upgrades acquired assets. That pattern is typical for a growth-through-acquisition strategy, but it means there is less short-term flexibility if fuel markets weaken or project costs rise.

Competitive Edge

Competitive Edge Sunoco’s main strength is a very large, hard-to-replicate network of pipelines, storage terminals, and fuel distribution contracts. Its scale allows it to buy and move fuel efficiently, spreading fixed costs over a wide volume base and supporting competitive pricing. Long-term contracts with major customers, including large convenience store chains, help provide predictable demand and cash flows. Niche positions in race fuels and high-performance gasoline add brand strength and higher-margin specialty revenue. The main competitive challenges are the long-term shift toward cleaner energy, regulatory scrutiny of pipelines and fuels, and intense competition from other large distributors and refiners.

Innovation and R&D

Innovation and R&D Sunoco is not a traditional research-driven company; its innovation is mostly about smarter operations and better use of technology. It has upgraded core systems like ERP and pricing software, automated terminals, and focused on integrating acquired infrastructure to run as one efficient network. The company is also positioning parts of its system to handle renewable fuels and ammonia, which could be important as energy markets evolve. Strategic expansion into Europe and ongoing acquisitions are more “business model innovation” than lab research, and the main execution risk is successfully knitting together diverse assets and teams while keeping reliability and safety high.

Summary

Overall, Sunoco looks like a scaled infrastructure and fuel distribution platform that has used acquisitions and operational improvements to grow earnings and expand its asset base. Profitability and cash generation appear stronger than they were earlier in the decade, but this has come with a larger balance sheet and higher leverage. Its wide network, long-term contracts, and niche specialty fuels support a strong competitive position, yet the company is exposed to fuel demand trends, regulation, and the long-term energy transition. The key variables to watch are integration of recent acquisitions, management of debt and interest costs, and how effectively Sunoco adapts its network to cleaner and alternative fuels while maintaining reliable cash flow from its core fuel distribution business.

NEWS

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November 5, 2025 · 5:00 PM UTC

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November 5, 2025 · 7:00 AM UTC

Sunoco LP Reports Third Quarter 2025 Financial and Operating Results

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November 3, 2025 · 8:00 AM UTC

Sunoco LP and SunocoCorp LLC Announce Completion of Acquisition of Parkland Corporation and Start Date for Trading in SunocoCorp LLC Common Units; Publication of Updated Investor Presentation

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