Jun 2026 (Q2 FY26) — Aug 4, 2026
Sunoco LP Q2 FY26 — Raised FY26 Adjusted EBITDA Guidance and Strong Segment Performance
Read the full callSunoco (SUN) earnings
- Jun 2026
- Jun 2026 (Q2 FY26)
- Dec 2025
Sunoco earnings: last reported Tue, 4 Aug 2026, for the quarter ended Jun 2026.
Reported
The figures, each with its period
Each figure keeps its basis and period; nothing is filled in.
| Metric | Value | Change | Basis | Period | Note |
|---|---|---|---|---|---|
| Revenue | 14,259 | +164.5% YoY | Quarterly, as filed | Quarter to Jun 2026 | Revenue from operations as filed. |
| Operating margin | 4.1 | +0.3 pts YoY | Operating profit / revenue | Quarter to Jun 2026 | For the quarter; a change is in percentage points. |
| Net profit | Quarterly, as filed | Quarter to Jun 2026 | Not in the filed figures for the quarter to jun 2026. No older figure is substituted. |
Guidance
What management said, and what became of it
8 of 8 judged targets kept · 18 open · verdicts reflect calls analysed to Jun 2026.
| Target | Original wording | Said | Latest call | Verdict |
|---|---|---|---|---|
| Long-term leverage target | 4x (total debt / adjusted EBITDA) | Jun 2024 | leverage was approximately 3.7x, below our long-term target | Achieved |
| Full-year adjusted EBITDA guidance | $3.1 billion to $3.3 billion | Dec 2025 | we raised our adjusted EBITDA guidance range to be between $3.5 billion and $3.7 billion, an increase of $400 million from our original guidance range. | Revised Up |
| Annual bolt-on M&A investment floor | at least $500 million per year | Dec 2025 | We're at different stages with different targets, and we absolutely expect to exceed the $500 million in 2026. | On Track |
18 of Sunoco LP's 26 targets are still open. See which are on track and which have gone quiet. The 3 above are the free sample; 23 more targets are in the full ledger.
Claimed
- Q2 FY26 Adjusted EBITDA was $996 million, excluding $14 million of one-time transaction expenses.
- Raised FY26 Adjusted EBITDA guidance range to $3.5 billion - $3.7 billion, an increase of $400 million from original guidance.
- Fuel Distribution segment Adjusted EBITDA was $516 million, with distributed volumes up 89% YoY to 4.1 billion gallons.
- Refinery segment Adjusted EBITDA was $175 million, significantly up from $43 million last quarter, with throughput of 57,000 bbl/d.
- Trailing 12-month distribution coverage ratio of 2.1x, with a quarterly distribution increase of 1.25% QoQ and over 10% YoY.
Qualified
Price
$74.35 −1.56% · −$1.18
Performance +48.0% 1Y
1Y: $50.25 on 13 Oct 2025 → $74.35. High $79.97 (15 Sept 2026), low $50.16 (11 Nov 2025).
- Previous close
- $75.53
- 52-week range
- $50.16 – $79.97
- One year
- +46.30%
Overview
- Symbol
- SUN
- Sector
- Energy
- Exchange
- US
- Currency
- USD
Guidance
What management said, and what became of it
8 of 8 judged targets kept · 18 open · verdicts reflect calls analysed to Jun 2026.
| Target | Original wording | Said | Latest call | Verdict |
|---|---|---|---|---|
| Long-term leverage target | 4x (total debt / adjusted EBITDA) | Jun 2024 | leverage was approximately 3.7x, below our long-term target | Achieved |
| Full-year adjusted EBITDA guidance | $3.1 billion to $3.3 billion | Dec 2025 | we raised our adjusted EBITDA guidance range to be between $3.5 billion and $3.7 billion, an increase of $400 million from our original guidance range. | Revised Up |
| Annual bolt-on M&A investment floor | at least $500 million per year | Dec 2025 | We're at different stages with different targets, and we absolutely expect to exceed the $500 million in 2026. | On Track |
Claimed
- Q2 FY26 Adjusted EBITDA was $996 million, excluding $14 million of one-time transaction expenses.
- Raised FY26 Adjusted EBITDA guidance range to $3.5 billion - $3.7 billion, an increase of $400 million from original guidance.
- Fuel Distribution segment Adjusted EBITDA was $516 million, with distributed volumes up 89% YoY to 4.1 billion gallons.
- Refinery segment Adjusted EBITDA was $175 million, significantly up from $43 million last quarter, with throughput of 57,000 bbl/d.
- Trailing 12-month distribution coverage ratio of 2.1x, with a quarterly distribution increase of 1.25% QoQ and over 10% YoY.
Qualified
The full ledger
Open Sunoco LP’s full ledger
A free account opens 5 company ledgers a month. All 26 tracked commitments, with each call’s wording and source.
Call summaries
Every analysed call
Sunoco earnings calls (SUN)
Financials
What the filings say
Net profit, year on year: −28% (quarter to dec 2025 against dec 2024).
| Line item | Sep 2024 | Dec 2024 | Mar 2025 | Jun 2025 | Sep 2025 | Dec 2025 | Mar 2026 | Jun 2026 |
|---|---|---|---|---|---|---|---|---|
| Sales | 5,751 | 5,269 | 5,179 | 5,390 | 6,032 | 8,600 | 10,690 | 14,259 |
| Expenses | 5,644 | 5,032 | 4,883 | 5,187 | 5,780 | 8,416 | 9,824 | 13,676 |
| Operating profit | 107 | 237 | 296 | 203 | 252 | 184 | 866 | 583 |
| Operating margin | 1.9% | 4.5% | 5.7% | 3.8% | 4.2% | 2.1% | 8.1% | 4.1% |
| Interest | 116 | 117 | 121 | 123 | 131 | 166 | 201 | 204 |
| Net profit | 2 | 141 | 207 | 86 | 133 | 101 | — | — |
| Line item | Dec 2018 | Dec 2019 | Dec 2020 | Dec 2021 | Dec 2022 | Dec 2023 | Dec 2024 | Dec 2025 |
|---|---|---|---|---|---|---|---|---|
| Total liabilities | 4,095 | 4,680 | 4,635 | 5,004 | 5,888 | 5,848 | 10,307 | 20,353 |
| Fixed assets | 1,546 | 1,442 | 1,425 | 1,667 | 1,760 | 1,836 | 7,674 | 13,408 |
| Total assets | 4,879 | 5,438 | 5,267 | 5,815 | 6,830 | 6,826 | 14,375 | 28,362 |
| Line item | Dec 2018 | Dec 2019 | Dec 2020 | Dec 2021 | Dec 2022 | Dec 2023 | Dec 2024 | Dec 2025 |
|---|---|---|---|---|---|---|---|---|
| Cash from operations | 447 | 435 | 502 | 543 | 561 | 600 | 549 | 1,192 |
| Cash from investing | -469 | -164 | -120 | -387 | -464 | -288 | 477 | -2,807 |
| Cash from financing | -2,684 | -306 | -306 | -228 | -40 | -365 | -961 | 2,412 |
| Net cash flow | — | -35 | 76 | -72 | 57 | -53 | 65 | 797 |
| Capital expenditure | -103 | -148 | -124 | -157 | -186 | -215 | -344 | -577 |
| Free cash flow | 344 | 287 | 378 | 386 | 375 | 385 | 205 | 615 |
SUN revenue by segment
| Segment | Q2 FY2024 | Q3 FY2024 | Q1 FY2025 | Q2 FY2025 | Q3 FY2025 | Q4 FY2025 | Q1 FY2026 | Q2 FY2026 | YoY growth latest quarter |
|---|---|---|---|---|---|---|---|---|---|
| Fuel Distribution | — | — | — | — | — | — | — | 101% | — |
| Refinery | — | — | — | — | — | — | 6% | 7% | — |
| Terminals | 1% | 6% | 7% | 6% | 6% | 4% | 4% | 4% | +66.5% |
| Pipeline Systems | 3% | 3% | 3% | 3% | 3% | 2% | 2% | 1% | +13.7% |
Share of consolidated revenue by quarter. Q4 is the fiscal year less its first three quarters.
See how segments are shifting across companies → Segment Shift
Insider filings
18 filings between Dec 5, 2025 and Jun 25, 2026.
Open market
decisions to buy or sellNobody bought or sold SUN on the open market in this window. The filings below are 12 awards and 6 tax withholdings.
Compensation
not trading decisions- 12
- Award — granted as compensation
- 6
- Tax withheld — shares kept back by the company to cover tax
Latest filings (36)
| Date | Insider | What | Shares | Value |
|---|---|---|---|---|
| Jun 25, 2026 | Harkness Austin EVP, Chief Commercial Officer | Award | 20,000 | $0 |
| Jun 25, 2026 | Hand Brian A EVP-Chief Sales Officer | Award | 20,000 | $0 |
| Jan 2, 2026 | Barron Bradley C Director | Award | 2,436 | $0 |
| Jan 2, 2026 | Washburne Ray W Director | Award | 2,436 | $0 |
| Jan 2, 2026 | Skidmore David K Director | Award | 2,436 | $0 |
| Jan 2, 2026 | Smith W Brett Director | Award | 2,436 | $0 |
| Jan 2, 2026 | Alvarez Oscar A. Director | Award | 2,436 | $0 |
| Dec 5, 2025 | Kim Joseph President & CEO | Tax withheld | 33,810 | $1.87M |
| Dec 5, 2025 | Kim Joseph President & CEO | Award | 97,200 | $0 |
| Dec 5, 2025 | Bramhall Dylan CFO | Tax withheld | 9,020 | $498.4K |
| Dec 5, 2025 | Hand Brian A EVP-Chief Sales Officer | Tax withheld | 9,149 | $505.6K |
| Dec 5, 2025 | Hand Brian A EVP-Chief Sales Officer | Award | 19,875 | $0 |
| Dec 5, 2025 | Fails Karl R EVP & Chief Operations Officer | Tax withheld | 14,600 | $806.8K |
| Dec 5, 2025 | Fails Karl R EVP & Chief Operations Officer | Award | 35,100 | $0 |
| Dec 5, 2025 | Raymer Rick VP & Controller & PAO | Tax withheld | 3,519 | $194.5K |
| Dec 5, 2025 | Raymer Rick VP & Controller & PAO | Award | 5,438 | $0 |
| Dec 5, 2025 | Harkness Austin EVP, Chief Commercial Officer | Tax withheld | 9,405 | $519.7K |
| Dec 5, 2025 | Harkness Austin EVP, Chief Commercial Officer | Award | 19,875 | $0 |
| Feb 18, 2025 | Kim Joseph President & CEO | Award | 50,000 | $0 |
| Feb 18, 2025 | Fails Karl R EVP & Chief Operations Officer | Award | 25,000 | $0 |
| Jan 2, 2025 | Skidmore David K Director | Award | 2,204 | $0 |
| Jan 2, 2025 | Barron Bradley C Director | Award | 2,204 | $0 |
| Jan 2, 2025 | Smith W Brett Director | Award | 2,204 | $0 |
| Jan 2, 2025 | Alvarez Oscar A. Director | Award | 2,204 | $0 |
| Jan 2, 2025 | Washburne Ray W Director | Award | 2,204 | $0 |
| Dec 5, 2024 | Raymer Rick VP & Controller & PAO | Tax withheld | 1,877 | $103.2K |
| Dec 5, 2024 | Raymer Rick VP & Controller & PAO | Award | 4,650 | $0 |
| Dec 5, 2024 | Fails Karl R EVP & Chief Operations Officer | Tax withheld | 10,114 | $555.9K |
| Dec 5, 2024 | Fails Karl R EVP & Chief Operations Officer | Award | 24,750 | $0 |
| Dec 5, 2024 | Hand Brian A EVP-Chief Sales Officer | Tax withheld | 8,067 | $443.4K |
| Dec 5, 2024 | Hand Brian A EVP-Chief Sales Officer | Award | 15,000 | $0 |
| Dec 5, 2024 | Harkness Austin EVP, Chief Commercial Officer | Tax withheld | 4,605 | $253.1K |
| Dec 5, 2024 | Harkness Austin EVP, Chief Commercial Officer | Award | 15,000 | $0 |
| Dec 5, 2024 | Bramhall Dylan CFO | Tax withheld | 3,070 | $168.8K |
| Dec 5, 2024 | Kim Joseph President & CEO | Tax withheld | 24,573 | $1.35M |
| Dec 5, 2024 | Kim Joseph President & CEO | Award | 56,250 | $0 |
Source: SEC Form 4 filings. Form 4 reports transactions, not the cap table — absence of filings says nothing about how much an insider owns, and a quiet window is not a signal.
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