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Sunoco LP(SUN) - 2021 Q2 - Quarterly Report
2021-08-05 16:53
Washington, D.C. 20549 UNITED STATES SECURITIES AND EXCHANGE COMMISSION FORM 10-Q ☒ QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the Quarterly Period Ended: June 30, 2021 or ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the transition period from to Commission File Number: 001-35653 SUNOCO LP (Exact name of registrant as specified in its charter) (State or other jurisdiction of incorporation or organization) (I.R ...
Sunoco LP(SUN) - 2021 Q2 - Earnings Call Transcript
2021-08-03 17:05
Sunoco LP (NYSE:SUN) Q2 2021 Earnings Conference Call August 3, 2021 10:00 AM ET Company Participants Scott Grischow - Vice President, Investor Relations and Treasury Joe Kim - President and Chief Executive Officer Karl Fails - Chief Operations Officer Dylan Bramhall - Chief Financial Officer Conference Call Participants Theresa Chen - Barclays John Royall - JPMorgan Michelle Kenel - UBS Elvira Scotto - RBC Capital Markets Operator Greetings. Welcome to Sunoco LP's Second Quarter 2021 Earnings Conference Ca ...
Sunoco LP(SUN) - 2021 Q1 - Quarterly Report
2021-05-07 15:21
UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 10-Q (Mark One) ☒ QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the Quarterly Period Ended: March 31, 2021 or ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the transition period from to Commission File Number: 001-35653 SUNOCO LP (Exact name of registrant as specified in its charter) Delaware 30-0740483 (State or other jurisdiction of inc ...
Sunoco LP(SUN) - 2020 Q4 - Annual Report
2021-02-19 21:43
UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 _______________________________________________ FORM 10-K _____________________________________________________________ (Mark One) ☒ ANNUAL REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the Fiscal Year Ended: December 31, 2020 or ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the transition period from to Commission File Number: 001-35653 _______________ ...
Sunoco LP(SUN) - 2020 Q4 - Earnings Call Transcript
2021-02-18 19:08
Sunoco LP (NYSE:SUN) Q4 2020 Earnings Conference Call February 18, 2021 9:00 AM ET Company Participants Scott Grischow – Vice President-Investor Relations Joe Kim – President and Chief Executive Officer Karl Fails – Chief Operations Officer Dylan Bramhall – Chief Financial Officer Conference Call Participants Shneur Gershuni – UBS Theresa Chen – Barclays Gabe Moreen – Mizuho Spiro Dounis – Credit Suisse John Royall – JPMorgan Operator Greetings, and welcome to the Sunoco LP’s 2020 Fourth Quarter Earnings Co ...
Sunoco LP(SUN) - 2020 Q3 - Earnings Call Transcript
2020-11-05 19:01
Sunoco LP (NYSE:SUN) Q3 2020 Earnings Conference Call November 5, 2020 9:00 AM ET Company Participants Scott Grischow - Vice President, Investor Relations & Treasury Joe Kim - President & Chief Executive Officer Karl Fails - Chief Operations Officer Conference Call Participants Spiro Dounis - Credit Suisse John Royall - JPMorgan Gabe Moreen - Mizuho Operator Good morning ladies and gentlemen and thank you for standing by. Welcome to Sunoco LP's 2020 Third Quarter Earnings Call. At this time, all participant ...
Sunoco LP(SUN) - 2020 Q2 - Earnings Call Transcript
2020-08-06 17:21
Sunoco LP (NYSE:SUN) Q2 2020 Earnings Conference Call August 6, 2020 9:00 AM ET Company Participants Scott Grischow - Vice President of Investor Relations and Treasury Karl Fails - Chief Operations Officer Joseph Kim - President and Chief Executive Officer Conference Call Participants Shneur Gershuni - UBS Theresa Chen - Barclays Capital Spiro Dounis - Credit Suisse John Royall - JPMorgan Sharon Lui - Wells Fargo Securities, LLC Gabe Moreen - Mizuho Securities USA Operator Good morning, ladies and gentlemen ...
Sunoco LP(SUN) - 2020 Q1 - Earnings Call Transcript
2020-05-12 16:33
Financial Data and Key Metrics Changes - The company recorded a net loss of $128 million, which included a $227 million non-cash inventory adjustment due to a decline in RBOB prices [6] - Adjusted EBITDA was $209 million, an increase from $153 million in Q1 2019 [7] - Fuel volumes totaled 1.9 billion gallons, down 2% year-over-year [7] - Fuel margin increased to $0.131 per gallon from $0.099 per gallon in the same period last year [8] - Distributable cash flows adjusted were $159 million, yielding a coverage ratio of 1.84 times [10] Business Line Data and Key Metrics Changes - Total operating expenses increased to $143 million, which included a $16 million credit loss expense [9] - The increase in operating expenses was primarily due to the financial impact of COVID-19 and lower oil prices on the Energy Services business [9] Market Data and Key Metrics Changes - In April, fuel volume was down approximately 40% year-over-year, with a recovery trend noted in May showing a decrease of roughly 30% year-over-year [21][22] - The company observed that states lifting stay-at-home orders had a positive impact on volumes, while even states with ongoing restrictions showed a positive trend since mid-April [39] Company Strategy and Development Direction - The company has reduced its projected 2020 growth capital to $75 million, down over 40% from initial guidance of $130 million [16] - Maintenance capital was reduced to approximately $30 million, down a third from initial guidance of $45 million [16] - The company aims to manage operating costs and capital expenditures tightly as the economy recovers [18] - The strategy remains focused on organic growth rather than M&A, although opportunities in traditional midstream assets are not excluded [46] Management's Comments on Operating Environment and Future Outlook - Management withdrew previous guidance on 2020 fuel volume margin and adjusted EBITDA due to uncertainty from the COVID-19 pandemic [14] - The company believes it will weather the storm and emerge stronger, with a solid foundation and ample liquidity [23][45] - Management expects margins to remain robust due to current volatility in crude prices, which has historically supported higher margins [26][76] Other Important Information - The company declared a distribution of $0.8255 per unit, the same as the previous quarter [11] - The company has taken proactive measures to reduce capital and operating costs, aiming for cash savings between $125 million and $140 million [17] Q&A Session Summary Question: Outlook and expectations regarding margins - Management indicated that margins have remained above normal ranges and will depend on gasoline and diesel price movements and volume recovery [33][34] Question: Impact of stay-at-home orders on volumes - Management noted that states with lifted restrictions saw volume increases, while positive trends were also observed in states with ongoing restrictions [39] Question: M&A strategy and growth opportunities - Management stated that while the focus is on prudent decisions, they are open to M&A opportunities as the market stabilizes [46] Question: Credit loss provisions and ongoing issues - Management confirmed that the $16 million credit loss reserve was related to COVID-19 impacts and expectations around credit losses [58] Question: Diesel demand and West Texas exposure - Diesel demand declined later than gasoline, with West Texas showing resilience despite lower oil prices [62][64] Question: Legal settlements and future impacts - Management advised that the recent legal settlement should be viewed as a one-time item, with no large settlements anticipated on the horizon [68]
Sunoco LP(SUN) - 2019 Q4 - Earnings Call Transcript
2020-02-20 15:49
Sunoco LP (NYSE:SUN) Q4 2019 Earnings Conference Call February 20, 2020 9:00 AM ET Company Participants Scott Grischow - VP, IR Joe Kim - President and CEO Tom Miller - CFO Karl Fails - COO Conference Call Participants Sharon Lui - Wells Fargo Securities Operator Greetings, welcome to Sunoco LP Fourth Quarter Full-Year 2019 Earnings Call. [Operator Instructions] Please note this conference is being recorded. I will now turn the conference over to Scott Grischow, Vice President of Investor Relations. Thank y ...
Sunoco (SUN) Investor Presentation - Slideshow
2019-12-12 19:08
SUNOCOLP* Investor Presentation December 2019 Forward-Looking Statements Some of the statements in this presentation constitute "forward-looking statements" about Sunoco LP ("SUN", "we", "our," and "us") that involve risks, uncertainties and assumptions, including, without limitation, the expected future performance of SUN (including expected results of operations and financial guidance), and SUN's future financial condition, operating results, strategy and plans. These forward-looking statements generally ...