Sunoco LP(US:SUN)2025-11-05 12:11Financial Performance - Net income for Q3 2025 was $137 million, a significant increase from $2 million in Q3 2024[3] - Adjusted EBITDA for Q3 2025 was $489 million, compared to $456 million in Q3 2024, with one-time transaction-related expenses of $7 million and $14 million respectively[3] - Distributable Cash Flow, as adjusted, for Q3 2025 was $326 million, down from $349 million in Q3 2024[3] - Net income for the three months ended September 30, 2025, was $137 million, a significant increase from $2 million in the same period of 2024[18] - Adjusted EBITDA for the same period was $489 million, up from $456 million year-over-year, while Adjusted EBITDA excluding transaction-related expenses was $496 million compared to $470 million[18] - Distributable Cash Flow for Q3 2025 was $319 million, slightly down from $335 million in Q3 2024, while Distributable Cash Flow, as adjusted, was $326 million compared to $349 million[18] Segment Performance - Fuel Distribution segment's adjusted EBITDA was $232 million in Q3 2025, down from $253 million in Q3 2024, with fuel margin at 10.7 cents per gallon[3] - Pipeline Systems segment's adjusted EBITDA increased to $182 million in Q3 2025 from $136 million in Q3 2024, with throughput averaging 1.3 million barrels per day[3] - Fuel Distribution segment profit increased to $329 million in Q3 2025 from $164 million in Q3 2024, driven by higher motor fuel gallons sold[27] - Pipeline Systems segment profit rose to $189 million in Q3 2025 from $159 million in Q3 2024, with throughput increasing to 1,296 thousand barrels per day from 1,165 thousand barrels per day[29] - Terminals segment profit increased to $128 million in Q3 2025 from $101 million in Q3 2024, despite a decrease in throughput to 656 thousand barrels per day from 694 thousand barrels per day[32] Capital Expenditures and Debt - Total capital expenditures in Q3 2025 were $157 million, including $115 million for growth capital[8] - Long-term debt as of September 30, 2025, was approximately $9.5 billion, with a leverage ratio of 3.9 times[7] Distributions - Quarterly distribution declared at $0.9202 per unit, representing a 1.25% increase compared to the previous quarter[4] - Since 2022, distributions have increased by approximately 11%, with a target annual growth rate of at least 5% for 2025[5] - Total distributions to partners increased to $168 million in Q3 2025 from $155 million in Q3 2024[18] Acquisitions - The acquisition of Parkland Corporation has been completed, and the acquisition of TanQuid is expected to be finalized in Q4 2025[7] Transaction-related Expenses - Transaction-related expenses decreased to $7 million in Q3 2025 from $14 million in Q3 2024[24] Motor Fuel Sales - Motor fuel gallons sold increased to 2,295 million in Q3 2025 from 2,138 million in Q3 2024, although motor fuel profit per gallon decreased to 10.7 cents from 12.8 cents[28]