Vancouver, British Columbia and Atlanta, Georgia--(Newsfile Corp. - February 19, 2026) - Stardust Solar Energy Inc. (TSXV: SUN) (OTCQB: SUNXF) (FSE: 6330) ("Stardust Solar" or the "Company") announces its expansion into the Atlanta, Georgia market, further advancing its U.S. growth strategy while reinforcing its broader commitment to scaling solar with battery solutions globally.Atlanta represents a strategically attractive market for solar and energy storage, supported by strong population growth, expandi ...

Core Insights - The article discusses the growing recognition and stability of master limited partnerships (MLPs), particularly highlighting the Alerian MLP ETF (AMLP) as a strong investment choice in a volatile market [2][3]. Group 1: MLPs and Market Position - MLPs have evolved from being relatively unknown to gaining significant investor recognition, with AMLP being a notable example [2]. - The underlying businesses of MLPs operate like essential infrastructure, focusing on pipelines and storage facilities, which are critical to the U.S. economy [3]. Group 2: Business Model and Stability - AMLP's stability is attributed to its fee-based business model, which charges a flat fee for the transportation of oil and gas, making it less sensitive to fluctuations in energy prices [4]. - The ETF has maintained a streak of 61 consecutive quarters of payouts, providing steady income that acts as a buffer during market volatility [5]. Group 3: Industry Dynamics - A significant driver for MLPs in 2026 is the surge in data-center construction, with long-term contracts being signed to transport natural gas for these facilities [5]. - AMLP consists of a concentrated portfolio with only 15 holdings, where the top seven companies represent a majority of the assets under management [6]. Group 4: Risk and Volatility - MLPs, particularly AMLP, offer a unique hedge against market volatility, with a beta of 0.7x, indicating it is historically 30% less volatile than the S&P 500 Index [8].

This story was originally published on C-Store Dive. To receive daily news and insights, subscribe to our free daily C-Store Dive newsletter. Matrix Capital Markets Group, an advisory firm focused on the energy and convenience retail sectors, has been acquired by banking company Citizens Financial Group, according to a Tuesday announcement. Matrix has advised retailers on more than 70 M&A transactions since 2021, including Jernigan Oil when it was bought by Sunoco, C&J Cox Corporation when it sold itsel ...

Core Viewpoint - Stardust Solar Energy Inc. has successfully closed a non-brokered private placement of senior secured convertible debenture units, raising a total of $1,000,000 to fund its solar project in Zambia and for general corporate purposes [1][9]. Group 1: Offering Details - The offering consisted of 1,000 Debenture Units priced at $1,000 each, resulting in gross proceeds of $1,000,000 [1]. - Each Debenture Unit includes a senior secured convertible debenture with a principal value of $1,020 and 6,800 common share purchase warrants, allowing the purchase of common shares at an exercise price of $0.21 for 24 months [2]. - The Debentures will mature on February 17, 2028, with a 10% annual interest rate, increasing to 25% upon default [3]. Group 2: Conversion and Adjustment Terms - The principal amount of the Debentures can be converted into common shares at a conversion price of $0.15, adjustable under certain conditions [3][4]. - The conversion price and exercise price of the warrants are subject to adjustments if the company issues shares or securities at lower prices, with a floor price of $0.115 [4]. Group 3: Security and Guarantees - The obligations under the Debentures are secured by a general security agreement covering all present and future property of the company, along with guarantees from its subsidiaries [6]. - The company has pledged shares for any securities held in its subsidiaries as additional collateral [6]. Group 4: Financial and Regulatory Aspects - The company reimbursed the investor $25,000 for expenses related to the offering [7]. - All securities issued are subject to a statutory hold period expiring on June 18, 2026 [7]. Group 5: Company Overview - Stardust Solar Energy Inc. is focused on developing multiple revenue streams in the solar energy sector, including residential, commercial, and utility-scale markets, with ongoing international expansion [9]. - The company aims to create scalable, recurring value through royalties, licensing, and clean-energy franchise operations, emphasizing sustainability-driven innovation [9].

Core Viewpoint - Sunoco LP reported fourth-quarter earnings that significantly missed analyst expectations despite exceeding revenue forecasts [1] Financial Performance - The company recorded a net income of $97 million and adjusted earnings per share of $0.09, which fell short of the $1.52 consensus estimate [1] - Revenue for the quarter reached $8.6 billion, surpassing the forecast of $5.93 billion [1] - Adjusted EBITDA totaled $646 million, or $706 million excluding one-time transaction-related costs [1] Acquisition Impact - The results were influenced by Sunoco's acquisition of Parkland Corporation, which was completed on October 31, 2025 [2] - During the quarter, Sunoco sold approximately 3.3 billion gallons of fuel at a margin of 17.7 cents per gallon [2] Cash Flow and Distribution - Adjusted Distributable Cash Flow increased to $442 million, compared to $261 million in the fourth quarter of 2024 [3] - The company raised its quarterly distribution by 1.25% to $0.9317 per common unit and aims for annual distribution growth of at least 5% in 2026 [3] - Sunoco achieved its long-term leverage target of approximately four times and marked its eighth consecutive year of growth in Distributable Cash Flow per common unit [2]

Grischow said SUNC “will be an attractive option to invest in Sunoco,” particularly for investors outside the U.S., institutional investors, and retirement accounts. Management expects minimal corporate income taxes at SUNC for at least five years, which it said should allow SUNC’s distribution to remain “very similar” to Sunoco LP’s distribution during that period.Grischow emphasized that SUNC’s only asset is its limited partner interest in Sunoco LP and that SUNC consolidates Sunoco LP into its financial ...

Achieved record adjusted EBITDA of $2,120,000,000 for 2025, driven by the successful integration of NuStar and the initial two-month contribution from the Parkland acquisition. Expanded the operational footprint to 32 countries, transitioning from a U.S.-centric model to the largest independent fuel distributor in the Americas with new scale in Canada, the Caribbean, and Europe. Attributed fuel distribution outperformance to a 'gross profit optimization' playbook, which successfully grew legacy volume ...

Financial Data and Key Metrics Changes - The partnership achieved record adjusted EBITDA of $706 million in Q4 2025, excluding approximately $60 million of one-time transaction expenses, reflecting ongoing operational strength and contributions from the Parkland acquisition [5][6] - Full year 2025 adjusted EBITDA reached a record $2.12 billion, a 36% increase over the prior year, driven by solid growth in the base business and contributions from acquisitions [6][16] - The trailing twelve-month coverage ratio finished at a strong 1.9x, indicating robust cash flow relative to distributions [6] Business Line Data and Key Metrics Changes - In the fuel distribution segment, adjusted EBITDA was $391 million in Q4 2025, up from $238 million in Q3 and $192 million in Q4 2024, with a 44% increase in distributed gallons compared to the previous quarter [9][10] - The pipeline system segment reported adjusted EBITDA of $187 million in Q4, consistent with the previous year, while throughput remained stable at 1.4 million barrels per day [12] - The terminal segment's adjusted EBITDA was $87 million in Q4, up from $76 million in Q3 and $61 million in Q4 2024, benefiting from the Parkland acquisition [13] - The new refining segment generated adjusted EBITDA of $41 million in Q4, reflecting improved performance following the Parkland transaction [14] Market Data and Key Metrics Changes - The U.S. fuel distribution market showed flat to slightly declining demand, but the company outperformed these trends due to effective capital deployment [26] - Canadian refined product demand has been slightly up, with strong margins in regulated markets, indicating a favorable environment for growth [28] - The Caribbean market demonstrated strong demand, particularly in jurisdictions like Guyana, which has experienced significant GDP growth [30] Company Strategy and Development Direction - The company aims for a multi-year annual distribution growth rate of at least 5%, supported by a strong financial position and disciplined capital allocation [6][21] - The integration of Parkland and TanQuid is expected to enhance operational scale and synergies, contributing to future growth [15][19] - The company is positioned as both a defensive play and an attractive growth opportunity within the midstream sector, focusing on value-creating growth through acquisitions and capital projects [20][21] Management's Comments on Operating Environment and Future Outlook - Management expressed confidence in the resilience of the legacy Sunoco business and the expected strong performance of all segments in 2026 [17][18] - The company anticipates continued strong cash flow growth and a solid credit profile, with a focus on maintaining a healthy balance sheet while pursuing growth opportunities [18][19] - Management highlighted the importance of adapting to market complexities and regulatory changes, which could benefit the company in the long term [47] Other Important Information - The company declared a distribution of $0.9317 per common unit, marking a 1.25% increase over the prior quarter and the fifth consecutive quarterly distribution increase [5] - The company expects minimal corporate income taxes for at least five years, which will support distribution growth for both Sunoco and SunC unitholders [42][43] Q&A Session Summary Question: How is demand trending across your footprint pro forma Parkland? - Management noted that U.S. demand has been flat, but the company has outperformed due to effective capital deployment, while Canadian demand has been slightly up, and Caribbean markets show strong demand [26][28][30] Question: Can you walk us through the pro forma terminaling portfolio post-integration of Parkland and TanQuid? - Management indicated that critical infrastructure supports the fuel distribution business across various geographies, with opportunities for growth through capital projects and M&A [32][33] Question: Where do you see the greatest opportunity for bolt-on M&A? - Management stated that opportunities exist across all segments and geographies, emphasizing a disciplined approach to capital allocation and project selection [52][53] Question: How do you feel about your synergy target with Parkland? - Management expressed confidence in exceeding synergy targets, with a focus on delivering synergies quickly and maintaining a strong base business [57][58]

Financial Data and Key Metrics Changes - The partnership achieved record adjusted EBITDA of $706 million in Q4, excluding approximately $60 million of one-time transaction expenses [5] - For the full year 2025, adjusted EBITDA reached a record $2.12 billion, a 36% increase over the prior year [6] - Q4 distributable cash flow, as adjusted, was $442 million, with a trailing twelve-month coverage ratio finishing at 1.9x [5][6] Business Line Data and Key Metrics Changes - Fuel distribution segment adjusted EBITDA was $391 million in Q4, up from $238 million in the previous quarter and $192 million in Q4 of 2024 [9] - Pipeline system segment adjusted EBITDA for Q4 was $187 million, consistent with Q4 of last year [12] - Terminal segment adjusted EBITDA for Q4 was $87 million, compared to $76 million in Q3 and $61 million in Q4 of 2024 [13] - New refining segment adjusted EBITDA for Q4 was $41 million, reflecting approximately two months of operations following the Parkland transaction [14] Market Data and Key Metrics Changes - The company distributed 3.3 billion gallons in Q4, up 44% versus the previous quarter and up 54% versus Q4 of last year [9] - Canadian refined product demand has been flat to slightly up over the last couple of years, contrasting with the U.S. market [28][29] - Strong demand in the Caribbean, particularly in markets like Guyana, which has experienced over 20% GDP growth in the last three years [31] Company Strategy and Development Direction - The company aims for an annual distribution growth rate of at least 5% over the next several years, supported by a strong financial position and disciplined capital allocation [6][21] - The integration of Parkland is progressing well, with expectations of realizing $125 million of the total $250 million annual synergy target in 2026 [15] - The company is positioned as both a defensive play and an attractive growth story, with a focus on bolt-on acquisitions across its expanded footprint [20][41] Management's Comments on Operating Environment and Future Outlook - Management expressed confidence in the resilience of the legacy Sunoco business and the expected strong performance of all segments in 2026 [17][19] - The company is well-positioned to navigate macro challenges such as inflation and market volatility, with a strong track record of delivering results [18] - Management highlighted the importance of maintaining a healthy balance sheet while pursuing growth opportunities [7][21] Other Important Information - The company declared a distribution of $0.9317 per common unit for both Sunoco LP common units and SunocoCorp shares, marking a 1.25% increase over the prior quarter [5] - The company has a strong liquidity position with $2.5 billion available under its revolving credit facility at the end of the year [6] Q&A Session Summary Question: Demand trends across the footprint pro forma Parkland - Management noted that U.S. demand has been flat to slightly off, but Sunoco outperformed those trends due to effective capital deployment [26] Question: Outlook for bolt-on M&A - Management indicated that the $500 million annual target for bolt-on acquisitions is a floor and could be exceeded, with opportunities across the entire footprint [41][42] Question: Impact of greenhouse gases endangerment finding - Management stated that in the short run, there is no effect on Sun, but long-term, it is bullish for refined products [49] Question: Distribution growth potential beyond 5% - Management emphasized a multiyear growth strategy, with confidence in continued growth of DCF per common unit and cash flows [50][51] Question: Synergy target for Parkland acquisition - Management expressed optimism about exceeding the synergy target, with a focus on delivering synergies quickly [60][61]

Financial Data and Key Metrics Changes - The partnership achieved record adjusted EBITDA of $706 million in Q4 2025, excluding approximately $60 million of one-time transaction expenses, marking a 36% increase in full-year adjusted EBITDA to $2.12 billion compared to the prior year [5][6] - Fourth quarter distributable cash flow, as adjusted, was $442 million, with a trailing twelve-month coverage ratio finishing at 1.9x, indicating strong financial health [5][6] - A distribution of $0.9317 per common unit was declared, representing a 1.25% increase over the prior quarter, marking the fifth consecutive quarterly distribution increase [5] Business Line Data and Key Metrics Changes - The fuel distribution segment reported adjusted EBITDA of $391 million in Q4 2025, up from $238 million in Q3 2025 and $192 million in Q4 2024, driven by a 44% increase in distributed gallons [9][10] - The pipeline system segment's adjusted EBITDA was $187 million, consistent with Q4 2024, while throughput remained at 1.4 million barrels per day [12] - The terminal segment's adjusted EBITDA increased to $87 million, up from $76 million in Q3 2025 and $61 million in Q4 2024, benefiting from the Parkland acquisition [13] - The new refining segment generated adjusted EBITDA of $41 million, reflecting improved performance compared to previous years [14] Market Data and Key Metrics Changes - The U.S. fuel distribution market showed flat to slightly declining demand, while the Canadian market exhibited slightly increasing demand, indicating regional variations in market performance [27][28] - The Caribbean market demonstrated strong volume growth, particularly in jurisdictions like Guyana, which experienced significant GDP growth [30] Company Strategy and Development Direction - The company aims for a multi-year annual distribution growth rate of at least 5%, supported by disciplined expense management and a focus on optimizing gross profit [6][21] - The integration of Parkland and TanQuid is expected to enhance operational scale and synergies, with a target of realizing $125 million of the total $250 million annual synergy target in 2026 [16][19] - The company is positioned as both a defensive play and an attractive growth opportunity within the midstream sector, emphasizing its ability to deliver strong results amid market volatility [20] Management's Comments on Operating Environment and Future Outlook - Management expressed confidence in the company's ability to deliver sustained value for investors, highlighting a strong financial position and growth opportunities across various geographies [18][19] - The company anticipates continued strong performance across all segments, with the Parkland acquisition expected to significantly contribute to future growth [19][21] Other Important Information - The company has a strong balance sheet with $2.5 billion in availability under its revolving credit facility and a leverage ratio of approximately 4x, aligning with long-term targets [6][7] - Minimal corporate income taxes are expected for at least five years, which will support distribution growth for both Sunoco and SunC unitholders [44][45] Q&A Session Summary Question: Demand trends in the fuel distribution business post-Parkland acquisition - Management noted that while U.S. demand has been flat, Sunoco has outperformed trends due to effective capital deployment, and the Canadian market shows stronger demand [26][27] Question: Outlook for bolt-on M&A and its impact on guidance - Management indicated that the $500 million annual target for bolt-on acquisitions is a floor, with potential for upside based on execution across various geographies [39][41] Question: Synergy targets from the Parkland acquisition - Management expressed confidence in exceeding the $125 million synergy target, with activities already ramping up in Q4 2025 [60][62]