UPDATE: Sunoco (SUN) Tops Q2 EPS by $1.20, Revenues Miss

Sunoco (NYSE: SUN) reported Q2 EPS of $1.64, $1.20 better than the analyst estimate of $0.44. Revenue for the quarter came in at $2.08 billion versus the consensus estimate of $2.81 billion.

• Generated Net Income of $157 million, Adjusted EBITDA(1) of $182 million and Distributable Cash Flow(1), 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

2020 Business Outlook

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(2) in a range of $460 to $475 million.

For earnings history and earnings-related data on Sunoco (SUN) click here.

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