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DALLAS - Sunoco LP (NYSE:SUN) reported fourth-quarter 2024 earnings that fell short of analyst expectations, while revenue also missed estimates.
The fuel distributor and pipeline operator posted adjusted earnings per share of $0.75, significantly below the $1.73 consensus forecast. Revenue came in at $5.27 billion, lower than the $5.68 billion analysts had projected.
Despite the earnings miss, Sunoco achieved record full-year 2024 results. The company reported net income of $874 million for the year, more than double the $394 million earned in 2023. Adjusted EBITDA, excluding one-time transaction expenses, reached $1.56 billion for 2024.
For the fourth quarter, Sunoco’s net income was $141 million, compared to a net loss of $106 million in the same period last year. Quarterly adjusted EBITDA rose to $439 million from $236 million YoY, including approximately $7 million in transaction-related costs.
The company’s fuel distribution segment sold approximately 2.2 billion gallons in Q4, with a fuel margin of 10.6 cents per gallon. The pipeline systems segment averaged throughput volumes of about 1.4 million barrels per day.
"We delivered record financial and operating results in 2024, demonstrating the strength of our integrated business model," said Joe Kim, CEO of Sunoco LP. "Looking ahead, we’re well-positioned for continued growth in 2025."
Sunoco provided guidance for full-year 2025, projecting adjusted EBITDA between $1.90 billion and $1.95 billion. The company also announced plans to increase its quarterly distribution, targeting distribution growth of at least 5% for 2025.
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