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EarningsQ2 2026 Earnings Report
SUN Q2 2026 EPS Results
Actual EPS$2.15
Consensus EPS$2.50
Beat/MissMissed by -$0.35
One Year Ago EPS$0.43
SUN Q2 2026 Revenue Results
Actual Revenue$14.26B
Expected Revenue$11.05B
Beat/MissBeat by +$3.21B
YoY Revenue Growth+164.55%
Earnings Announcement Details
QuarterQ2 2026
Date08/04/2026
TimeBefore Open
Conference CallTuesday, August 4, 2026
SUN Upcoming Earnings
Sunoco's next earnings date is estimated for November 3, 2026, based on past reporting schedules.
Q2 2026 Earnings Call Audio
SUN Q2 2026 Earnings Call
0:00 / 0:00
Q2 2026 Earnings Slide Deck
No slide deck is available for this earnings event.
Q2 2026 Earnings Call Summary
Earnings Call Sentiment|Positive
The call conveyed broadly positive operational and financial momentum: strong quarter-to-quarter and year-over-year EBITDA, raised full-year guidance, robust distributable cash flow, meaningful volume and throughput growth across segments, and improved liquidity and leverage metrics. The primary negatives are market-driven: commodity price volatility, forecasting sensitivity driven by refining crack spreads, higher near-term cash taxes from legacy refining operations, and some regional demand variability. Overall, management portrayed confidence in continued accretive M&A and organic growth while acknowledging macro-driven uncertainty that affects near-term predictability.Company Guidance
Strong Quarterly Adjusted EBITDA
Second quarter adjusted EBITDA of $996 million (excluding ~ $14 million of one-time transaction expenses).
Raised Full-Year Adjusted EBITDA Guidance
Updated 2026 adjusted EBITDA guidance to $3.5 billion–$3.7 billion, an increase of $400 million from the original range.
Robust Distributable Cash Flow and Distribution Increase
Second quarter distributable cash flow as adjusted was $608 million; declared a distribution just over $1 per common unit, up 1.25% quarter-over-quarter and over 10% versus Q2 2025.
Healthy Coverage Ratio and Liquidity
Trailing 12-month coverage ratio of 2.1x and $2.3 billion available under the revolving credit facility at quarter end.
Balance Sheet and Leverage
Leverage approximately 3.7x, below the company long-term target (4.0x), supporting distribution growth and accretive M&A.
Fuel Distribution Segment Outperformance
Fuel Distribution adjusted EBITDA of $516 million vs $214 million in Q2 2025 (includes transaction expenses); distributed 4.1 billion gallons—up 9% versus last quarter and up 89% versus Q2 2025; reported margin $0.171/gal (vs $0.105/gal in Q2 2025, approx +63% YoY).
Pipeline Systems Stability and Growth
Pipeline Systems adjusted EBITDA of $190 million (up from $177 million in Q2 2025); throughput 1.3 million barrels per day, +4% QoQ and +9% YoY.
Terminals Segment Expansion
Terminals adjusted EBITDA of $115 million (excluding $2 million transaction expenses) vs $73 million in Q2 2025; throughput 1.1 million bpd, +5% QoQ and +52% YoY, supported by a full quarter contribution from the TanQuid acquisition.
Refining Segment Outperformance
Refinery adjusted EBITDA of $175 million (vs $43 million last quarter) with throughput of 57,000 bpd (vs 22,000 bpd last quarter); refining margin over $40/boe and operating expenses under $10/boe drove strong contribution.
Acquisition and Organic Growth Execution
Contributions and synergies from Parkland ahead of schedule; management expects to exceed a multi-year bolt-on target of at least $500 million per year in 2026 and to continue accretive roll-ups and quick-return organic projects.
Track Record of Unit-Level Growth
Delivered eight consecutive years of DCF per common unit growth and expects 2026 to deliver the ninth consecutive year.
SUN Earnings History
The table shows recent earnings report dates and whether the forecast was beat or missed. See the change in forecast and EPS from the previous year.
Beat
Missed