Key Highlights

  • Diluted EPS of USD 1.55 missed the consensus estimate of USD 3.11 on member Net Income of USD 81 million.
  • Consolidated Revenue of USD 18.029 billion topped the consensus estimate of USD 16.45 billion, reflecting Sunoco LP results it consolidates.
  • Adjusted EBITDA of USD 1.049 billion compared with USD 489 million for Sunoco LP in the third quarter of 2025.
  • Quarterly distribution of USD 1.0148 per unit rose about 1.25% sequentially and over 10% from the third quarter of 2025.

SunocoCorp LLC (TXSE:SUNC) reported third quarter 2026 diluted net income per common unit of USD 1.55, below the consensus estimate of USD 3.11. Consolidated revenue was USD 18.029 billion, above a consensus estimate of USD 16.45 billion. SunocoCorp owns a limited partner interest in Sunoco LP and consolidates its results, so the revenue and operating figures reflect the full Sunoco LP business.

Consolidated net income was USD 472 million, of which USD 391 million went to noncontrolling interests, leaving USD 81 million attributable to members. Nine month diluted net income per common unit was USD 4.42. Adjusted EBITDA, a non-GAAP measure, was USD 1.049 billion, or USD 1.060 billion excluding USD 11 million of one-time transaction expenses.

Fuel Distribution and Terminals Drive Segment Gains

For Sunoco LP, Fuel Distribution Adjusted EBITDA rose to USD 523 million from USD 232 million a year earlier, on about 4.2 billion gallons sold at a fuel Margin of 16.8 cents per gallon. Terminals Adjusted EBITDA rose to USD 122 million from USD 75 million, with throughput of about 1.0 million barrels per day. Pipeline Systems Adjusted EBITDA slipped to USD 166 million from USD 182 million on throughput of about 1.3 million barrels per day. The Refinery segment added USD 238 million of Adjusted EBITDA on throughput of about 57 thousand barrels per day.

Sunoco LP reported Distributable Cash Flow, as adjusted, of USD 588 million against USD 326 million a year earlier, which the company described as roughly 25% growth per common unit. SunocoCorp itself reported Distributable Cash Flow attributable to its common unitholders of USD 52 million, matching the distributions to those holders. Operating Income of USD 740 million compares with USD 252 million for Sunoco LP a year earlier.

Guidance, Acquisitions and Distribution

The company projects 2026 Adjusted EBITDA above its guidance range of USD 3.5 to 3.7 billion. It completed the Acquisition of Offen Petroleum on October 27, 2026, and said it returned to its Leverage target in less than a year after the Parkland acquisition.

The third quarter distribution of USD 1.0148 per unit, or USD 4.0592 annualized, is payable on November 19, 2026 to holders of record on November 6, 2026. It marks the eighth consecutive quarterly increase in the Sunoco LP distribution, consistent with a multi-year growth target of at least 5%. Capital expenditures were USD 237 million, split between USD 121 million of growth and USD 116 million of maintenance spending.

Distribution, Leverage and Liquidity Against Prior Periods

The quarterly distribution of USD 1.0148 compares with USD 0.9202 a year earlier, and nine month distributions total USD 3.0070 against USD 2.7266. The Leverage Ratio of net Debt to Adjusted EBITDA was about 3.5 times, with Long Term Debt of USD 13.156 billion against USD 13.372 billion at year end 2025. Revolver liquidity stood at about USD 2.3 billion, while cash was USD 760 million against USD 891 million. Sunoco LP nine month revenue of USD 42.978 billion compares with USD 16.601 billion a year earlier.