$SUN · Sunoco LP
Sunoco LP filed its Q3 2026 10-Q. Total revenues rose 198.9% YoY to $18.029B, net income reached $499M (up from $137M), and diluted EPS was $2.07 versus $0.64 a year ago. The surge reflects the October 31, 2025 Parkland Acquisition, which added a refinery segment and expanded fuel distribution. Nine-month net income was $1,426M versus $430M, with Adjusted EBITDA of $2,889M versus $1,401M.
- Q3 revenue $18.029B, up 198.9% YoY from $6.032B.
- Q3 net income $499M vs $137M; diluted EPS $2.07 vs $0.64.
- Nine-month Adjusted EBITDA $2,889M vs $1,401M, up $1,488M.
- New refinery segment contributed $238M Q3 Adjusted EBITDA.
- Cash distribution per common unit $1.0148 vs $0.9202 a year ago.
SUN traded at $75.53, down 0.09% on the day, a muted reaction to a quarter whose growth was largely acquisition-driven rather than organic.
The Parkland Acquisition roughly tripled quarterly revenue and added a new refining segment, fundamentally reshaping Sunoco's earnings profile.
The Parkland Acquisition transforms Sunoco from a fuel distributor into a diversified energy infrastructure and refining operator across 33 countries, adding a refinery segment with no prior-year comparison.
Interest expense rose to $197M in Q3 (from $131M) and $602M for nine months, reflecting acquisition-related debt. Long-term debt stands at $13.156B, with a $2.50B revolving credit facility maturing June 2030.