Sunoco Exceeds Q3 Estimates Thanks To Higher Fuel Sold
Portfolio Pulse from Lekha Gupta
Sunoco LP reported Q3 FY23 revenues of $6.32 billion, exceeding the consensus of $5.54 billion. The company sold 2.1 billion gallons of fuel, a 7% increase YoY. However, adjusted EBITDA declined to $257 million from $276 million a year ago. EPS of $2.95 surpassed the consensus of $1.25. Sunoco declared a quarterly distribution of $0.8420 per unit. The company now expects FY23 adjusted EBITDA to be above $935 million.
November 01, 2023 | 5:22 pm
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Sunoco's Q3 FY23 results exceeded estimates with revenues of $6.32 billion and EPS of $2.95. However, adjusted EBITDA declined. The company declared a quarterly distribution and raised its FY23 adjusted EBITDA outlook.
Sunoco's Q3 FY23 results exceeded estimates, which is a positive signal for investors and could lead to a short-term increase in the stock price. However, the decline in adjusted EBITDA might be a concern. The raised outlook for FY23 adjusted EBITDA and the declared distribution are also positive signals.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100